Amalgamated Bank Lowers Position in Lamar Advertising (NASDAQ:LAMR)

Amalgamated Bank decreased its position in shares of Lamar Advertising (NASDAQ:LAMR) by 2.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 60,023 shares of the real estate investment trust’s stock after selling 1,541 shares during the period. Amalgamated Bank owned about 0.06% of Lamar Advertising worth $6,379,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Invesco Ltd. lifted its position in Lamar Advertising by 43.4% during the third quarter. Invesco Ltd. now owns 1,693,447 shares of the real estate investment trust’s stock valued at $141,352,000 after buying an additional 512,182 shares during the period. JPMorgan Chase & Co. boosted its stake in Lamar Advertising by 2.8% during the third quarter. JPMorgan Chase & Co. now owns 1,441,668 shares of the real estate investment trust’s stock worth $120,336,000 after acquiring an additional 39,292 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Lamar Advertising by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,009,456 shares of the real estate investment trust’s stock valued at $84,259,000 after purchasing an additional 6,314 shares in the last quarter. Makaira Partners LLC increased its stake in shares of Lamar Advertising by 31.7% during the third quarter. Makaira Partners LLC now owns 756,662 shares of the real estate investment trust’s stock valued at $63,159,000 after purchasing an additional 182,111 shares in the last quarter. Finally, HighTower Advisors LLC lifted its holdings in shares of Lamar Advertising by 23.7% during the third quarter. HighTower Advisors LLC now owns 600,059 shares of the real estate investment trust’s stock valued at $50,128,000 after purchasing an additional 115,006 shares during the last quarter. Institutional investors own 93.78% of the company’s stock.

Lamar Advertising Price Performance

NASDAQ LAMR opened at $115.08 on Monday. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.39. The firm has a market capitalization of $11.75 billion, a P/E ratio of 23.63 and a beta of 1.49. The company has a 50-day moving average price of $114.99 and a 200-day moving average price of $105.99. Lamar Advertising has a 52 week low of $77.21 and a 52 week high of $121.99.

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 analysts’ consensus estimates of $1.47 by ($0.71). Lamar Advertising had a net margin of 23.29% and a return on equity of 41.86%. The business had revenue of $498.15 million for the quarter, compared to the consensus estimate of $496.98 million. During the same period in the previous year, the firm earned $1.41 EPS. The company’s revenue was up 5.7% on a year-over-year basis. Equities research analysts anticipate that Lamar Advertising will post 7.92 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. Investors of record on Friday, March 15th were paid a dividend of $1.30 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase 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 payout ratio is 106.78%.

Insiders Place Their Bets

In related news, CFO Jay Lecoryelle Johnson sold 5,000 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $118.97, for a total value of $594,850.00. Following the completion of the transaction, the chief financial officer now owns 10,000 shares of the company’s stock, valued at approximately $1,189,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 14.98% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

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.