Amalgamated Bank Lowers Stock Holdings in Lamar Advertising (NASDAQ:LAMR)

Amalgamated Bank reduced its position in Lamar Advertising (NASDAQ:LAMR) by 5.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 42,155 shares of the real estate investment trust’s stock after selling 2,477 shares during the period. Amalgamated Bank’s holdings in Lamar Advertising were worth $5,632,000 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 LAMR. Allspring Global Investments Holdings LLC grew its stake in Lamar Advertising by 25.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,628 shares of the real estate investment trust’s stock worth $314,000 after acquiring an additional 535 shares during the period. Private Advisor Group LLC grew its stake in shares of Lamar Advertising by 5.2% during the 1st quarter. Private Advisor Group LLC now owns 11,630 shares of the real estate investment trust’s stock valued at $1,389,000 after buying an additional 576 shares during the period. Texas Permanent School Fund Corp grew its stake in shares of Lamar Advertising by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 76,647 shares of the real estate investment trust’s stock valued at $9,152,000 after buying an additional 1,025 shares during the period. Empowered Funds LLC grew its stake in shares of Lamar Advertising by 17.2% during the 1st quarter. Empowered Funds LLC now owns 13,115 shares of the real estate investment trust’s stock valued at $1,566,000 after buying an additional 1,929 shares during the period. Finally, Heartland Advisors Inc. grew its stake in shares of Lamar Advertising by 1.3% during the 1st quarter. Heartland Advisors Inc. now owns 63,479 shares of the real estate investment trust’s stock valued at $7,580,000 after buying an additional 793 shares during the period. 93.78% of the stock is owned by hedge funds and other institutional investors.

Lamar Advertising Stock Performance

NASDAQ:LAMR opened at $134.99 on Friday. 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 firm has a market capitalization of $13.81 billion, a price-to-earnings ratio of 27.38 and a beta of 1.52. The firm’s fifty day simple moving average is $131.69 and its 200 day simple moving average is $122.74. Lamar Advertising has a twelve month low of $91.20 and a twelve month high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.67). Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The firm had revenue of $565.25 million during the quarter, compared to analyst estimates of $564.96 million. During the same quarter in the prior year, the firm earned $1.90 EPS. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. As a group, equities research analysts expect that Lamar Advertising will post 7.75 earnings per share for the current fiscal 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 issued a $1.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $5.60 dividend on an annualized basis and a yield of 4.15%. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s payout ratio is currently 113.59%.

Analyst Ratings Changes

LAMR has been the subject of several research reports. JPMorgan Chase & Co. boosted their price objective 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. StockNews.com raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. TD Cowen boosted 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. Citigroup lowered shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 target price on the stock. in a report on Thursday, July 11th. Finally, Wells Fargo & Company started coverage on shares of Lamar Advertising in a report on Thursday, September 19th. They set an “equal weight” rating and a $132.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Lamar Advertising presently has a consensus rating of “Hold” and an average price target of $125.00.

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.