Mutual of America Capital Management LLC Sells 2,786 Shares of Lamar Advertising (NASDAQ:LAMR)

Mutual of America Capital Management LLC trimmed its holdings in Lamar Advertising (NASDAQ:LAMR) by 5.5% in the third quarter, Holdings Channel reports. The institutional investor owned 47,497 shares of the real estate investment trust’s stock after selling 2,786 shares during the period. Mutual of America Capital Management LLC’s holdings in Lamar Advertising were worth $6,346,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Blue Trust Inc. lifted its position in shares of Lamar Advertising by 444.1% during the 3rd quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 151 shares during the period. Concord Wealth Partners bought a new stake in Lamar Advertising during the third quarter worth about $26,000. Whittier Trust Co. grew its stake in Lamar Advertising by 144.4% during the second quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 130 shares in the last quarter. Assetmark Inc. increased its holdings in Lamar Advertising by 109.3% in the 3rd quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 117 shares during the period. Finally, MFA Wealth Advisors LLC acquired a new position in shares of Lamar Advertising in the 2nd quarter valued at approximately $30,000. Institutional investors and hedge funds own 93.78% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on LAMR shares. Morgan Stanley increased their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Wells Fargo & Company decreased their price target on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. TD Cowen upped their price objective on Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. lifted their target price on Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, StockNews.com cut shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $132.40.

Lamar Advertising Trading Up 0.1 %

NASDAQ LAMR opened at $127.68 on Wednesday. The company has a market cap of $13.07 billion, a price-to-earnings ratio of 25.54 and a beta of 1.52. Lamar Advertising has a twelve month low of $97.21 and a twelve month high of $139.88. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48. The business’s fifty day moving average is $132.20 and its 200 day moving average is $123.48.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings results on Friday, November 8th. The real estate investment trust reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. The firm had revenue of $564.10 million for the quarter, compared to analyst estimates of $568.91 million. During the same period in the previous year, the business posted $2.04 earnings per share. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, sell-side analysts expect that Lamar Advertising will post 7.75 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th were given a $1.40 dividend. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30. This represents a $5.60 annualized dividend and a yield of 4.39%. The ex-dividend date of this dividend was Wednesday, September 18th. Lamar Advertising’s dividend payout ratio is 112.00%.

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.