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

Amalgamated Bank cut its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 8.0% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 44,632 shares of the real estate investment trust’s stock after selling 3,872 shares during the period. Amalgamated Bank’s holdings in Lamar Advertising were worth $5,335,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Gilbert & Cook Inc. lifted its position in shares of Lamar Advertising by 4.9% during the fourth quarter. Gilbert & Cook Inc. now owns 4,730 shares of the real estate investment trust’s stock worth $503,000 after purchasing an additional 219 shares in the last quarter. Norges Bank purchased a new position in Lamar Advertising in the 4th quarter valued at about $38,406,000. PNC Financial Services Group Inc. boosted its position in Lamar Advertising by 2.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 57,652 shares of the real estate investment trust’s stock valued at $6,127,000 after buying an additional 1,643 shares during the last quarter. Coldstream Capital Management Inc. grew its stake in shares of Lamar Advertising by 10.9% during the fourth quarter. Coldstream Capital Management Inc. now owns 3,587 shares of the real estate investment trust’s stock valued at $381,000 after acquiring an additional 353 shares in the last quarter. Finally, Balentine LLC purchased a new stake in shares of Lamar Advertising during the fourth quarter worth about $211,000. 93.78% of the stock is owned by institutional investors and hedge funds.

Lamar Advertising Trading Up 1.5 %

Shares of NASDAQ LAMR opened at $133.54 on Friday. Lamar Advertising has a 12-month low of $77.21 and a 12-month high of $134.09. The company has a market cap of $13.65 billion, a price-to-earnings ratio of 27.42 and a beta of 1.52. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 2.31. The stock’s 50 day simple moving average is $121.49 and its 200 day simple moving average is $118.44.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.67). The firm had revenue of $565.25 million during the quarter, compared to analyst estimates of $564.96 million. Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The firm’s revenue was up 4.5% on a year-over-year basis. During the same period last year, the business earned $1.90 EPS. Equities research analysts expect that Lamar Advertising will post 7.75 EPS for the current year.

Lamar Advertising Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Wednesday, September 18th will be paid a $1.40 dividend. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $5.60 annualized dividend and a dividend yield of 4.19%. Lamar Advertising’s dividend payout ratio is presently 114.99%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Wells Fargo & Company assumed coverage on Lamar Advertising in a report on Thursday. They set an “equal weight” rating and a $132.00 price objective on the stock. Citigroup lowered shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price target for the company. in a research note on Thursday, July 11th. TD Cowen increased their price objective on shares of Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Friday, August 9th. StockNews.com upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday, May 31st. Finally, JPMorgan Chase & Co. increased their target price on Lamar Advertising from $117.00 to $121.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $125.00.

About Lamar Advertising

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.