Mutual of America Capital Management LLC Sells 2,790 Shares of Lamar Advertising (NASDAQ:LAMR)

Mutual of America Capital Management LLC decreased its holdings in Lamar Advertising (NASDAQ:LAMR) by 4.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 54,112 shares of the real estate investment trust’s stock after selling 2,790 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Lamar Advertising were worth $5,751,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of LAMR. Invesco Ltd. boosted its holdings in Lamar Advertising by 186.6% in the first quarter. Invesco Ltd. now owns 1,418,785 shares of the real estate investment trust’s stock valued at $164,834,000 after acquiring an additional 923,689 shares during the last quarter. Norges Bank bought a new position in Lamar Advertising during the 4th quarter worth approximately $79,703,000. Morgan Stanley raised its holdings in Lamar Advertising by 50.3% during the 4th quarter. Morgan Stanley now owns 1,384,858 shares of the real estate investment trust’s stock worth $130,731,000 after purchasing an additional 463,212 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Lamar Advertising by 97.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 738,168 shares of the real estate investment trust’s stock worth $73,737,000 after purchasing an additional 364,900 shares during the last quarter. Finally, Balyasny Asset Management LLC raised its holdings in Lamar Advertising by 2,099.1% during the 3rd quarter. Balyasny Asset Management LLC now owns 308,338 shares of the real estate investment trust’s stock worth $25,435,000 after purchasing an additional 294,317 shares during the last quarter. Institutional investors own 93.78% of the company’s stock.

Insider Buying and Selling at Lamar Advertising

In other Lamar Advertising news, CFO Jay Lecoryelle Johnson sold 5,000 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $118.97, for a total transaction of $594,850.00. Following the transaction, the chief financial officer now directly owns 10,000 shares in the company, valued at approximately $1,189,700. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 14.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on LAMR. StockNews.com upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a report on Tuesday, March 5th. JPMorgan Chase & Co. raised their price objective on shares of Lamar Advertising from $92.00 to $109.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. Finally, Morgan Stanley raised their price objective on shares of Lamar Advertising from $105.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th.

Lamar Advertising Stock Performance

Shares of LAMR stock opened at $111.67 on Friday. The company has a market cap of $11.40 billion, a price-to-earnings ratio of 23.02 and a beta of 1.50. Lamar Advertising has a 52 week low of $77.21 and a 52 week high of $121.99. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 2.55. The firm has a 50 day moving average of $112.87 and a 200-day moving average of $102.31.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Friday, February 23rd. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.49). Lamar Advertising had a net margin of 23.49% and a return on equity of 41.88%. The business had revenue of $555.91 million during the quarter, compared to analyst estimates of $549.84 million. During the same period in the previous year, the business posted $1.91 EPS. On average, equities analysts forecast that Lamar Advertising will post 7.54 earnings per share for the current year.

Lamar Advertising Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a dividend of $1.30 per share. The ex-dividend date was Thursday, March 14th. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.25. This represents a $5.20 annualized dividend and a yield of 4.66%. Lamar Advertising’s dividend payout ratio (DPR) is 107.22%.

Lamar Advertising Profile

Lamar Advertising Company operates as an outdoor advertising company in the United States and Canada. The company owns and operates billboards, logo signs, and transit advertising displays, as well as rents space for advertising on billboards, buses, shelters, benches, logo plates, and in airport terminals.