Mutual of America Capital Management LLC Has $6.35 Million Position in Lamar Advertising (NASDAQ:LAMR)

Mutual of America Capital Management LLC lessened its position in Lamar Advertising (NASDAQ:LAMR) by 5.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 47,497 shares of the real estate investment trust’s stock after selling 2,786 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Lamar Advertising were worth $6,346,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of LAMR. Massachusetts Financial Services Co. MA increased its stake in Lamar Advertising by 81.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 937,440 shares of the real estate investment trust’s stock valued at $112,052,000 after buying an additional 420,311 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Lamar Advertising in the 3rd quarter valued at about $43,665,000. International Assets Investment Management LLC increased its position in shares of Lamar Advertising by 49,140.4% in the third quarter. International Assets Investment Management LLC now owns 285,102 shares of the real estate investment trust’s stock valued at $38,090,000 after acquiring an additional 284,523 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in Lamar Advertising by 42,096.3% during the third quarter. Asset Management One Co. Ltd. now owns 126,167 shares of the real estate investment trust’s stock worth $16,856,000 after acquiring an additional 125,868 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new position in Lamar Advertising during the third quarter valued at approximately $12,838,000. Institutional investors own 93.78% of the company’s stock.

Analyst Ratings Changes

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

Lamar Advertising Stock Performance

NASDAQ LAMR opened at $127.68 on Wednesday. The stock has a market cap of $13.07 billion, a PE ratio of 25.54 and a beta of 1.52. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a 50-day moving average of $132.20 and a 200-day moving average of $123.48. Lamar Advertising has a 52-week low of $97.21 and a 52-week high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings data on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The firm had revenue of $564.10 million for the quarter, compared to the consensus estimate of $568.91 million. During the same quarter in the prior year, the firm earned $2.04 EPS. The company’s revenue was up 4.0% on a year-over-year basis. On average, sell-side analysts anticipate that Lamar Advertising will post 7.75 EPS for the current year.

Lamar Advertising Increases Dividend

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

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.