Lamar Advertising (NASDAQ:LAMR) Shares Sold by Amalgamated Bank

Amalgamated Bank cut its position in Lamar Advertising (NASDAQ:LAMR) by 2.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,023 shares of the real estate investment trust’s stock after selling 1,541 shares during the quarter. Amalgamated Bank’s holdings in Lamar Advertising were worth $6,379,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cary Street Partners Investment Advisory LLC acquired a new position in Lamar Advertising in the 3rd quarter valued at about $30,000. Signaturefd LLC boosted its holdings in Lamar Advertising by 43.7% in the third quarter. Signaturefd LLC now owns 493 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 150 shares during the period. Arlington Trust Co LLC purchased a new stake in Lamar Advertising during the 4th quarter worth about $57,000. Sunbelt Securities Inc. raised its position in Lamar Advertising by 249.0% in the 3rd quarter. Sunbelt Securities Inc. now owns 705 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 503 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Lamar Advertising in the 3rd quarter valued at about $108,000. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Insider Activity

In related news, CFO Jay Lecoryelle Johnson sold 5,000 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $118.97, for a total transaction of $594,850.00. Following the completion of the sale, the chief financial officer now 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 can be accessed through the SEC website. Corporate insiders own 14.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on LAMR shares. StockNews.com upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Tuesday, March 5th. Morgan Stanley boosted their target price on shares of Lamar Advertising from $105.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Monday, February 26th. Finally, JPMorgan Chase & Co. increased their target price on Lamar Advertising from $92.00 to $109.00 and gave the company a “neutral” rating in a report on Monday, February 26th.

Lamar Advertising Stock Down 3.0 %

Shares of NASDAQ:LAMR opened at $115.08 on Monday. The firm has a 50 day simple moving average of $114.99 and a 200-day simple moving average of $105.99. Lamar Advertising has a twelve month low of $77.21 and a twelve month high of $121.99. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 2.39. The company has a market capitalization of $11.75 billion, a PE ratio of 23.63 and a beta of 1.49.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.47 by ($0.71). The firm had revenue of $498.15 million for the quarter, compared to analysts’ expectations of $496.98 million. Lamar Advertising had a return on equity of 41.86% and a net margin of 23.29%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.41 EPS. On average, equities analysts predict that Lamar Advertising will post 7.92 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a dividend of $1.30 per share. The ex-dividend date was Thursday, March 14th. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.25. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.52%. Lamar Advertising’s dividend payout ratio (DPR) is 106.78%.

Lamar Advertising Company 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.