Resona Asset Management Co. Ltd. Lowers Stake in Lamar Advertising Company $LAMR

Resona Asset Management Co. Ltd. cut its stake in Lamar Advertising Company (NASDAQ:LAMR) by 8.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 35,218 shares of the real estate investment trust’s stock after selling 3,102 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Lamar Advertising were worth $4,258,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. 1248 Management LLC bought a new stake in Lamar Advertising during the first quarter worth about $26,000. Ameritas Advisory Services LLC purchased a new position in shares of Lamar Advertising during the 2nd quarter valued at about $28,000. HHM Wealth Advisors LLC raised its holdings in shares of Lamar Advertising by 26,900.0% during the 1st quarter. HHM Wealth Advisors LLC now owns 270 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 269 shares in the last quarter. Truvestments Capital LLC lifted its position in Lamar Advertising by 79.5% in the 1st quarter. Truvestments Capital LLC now owns 316 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 140 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its stake in Lamar Advertising by 55.5% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 356 shares of the real estate investment trust’s stock worth $43,000 after buying an additional 127 shares in the last quarter. Institutional investors own 93.78% of the company’s stock.

Wall Street Analysts Forecast Growth

LAMR has been the topic of several research reports. Weiss Ratings downgraded shares of Lamar Advertising from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Wells Fargo & Company reduced their target price on shares of Lamar Advertising from $122.00 to $119.00 and set an “equal weight” rating on the stock in a report on Monday, August 11th. JPMorgan Chase & Co. decreased their target price on shares of Lamar Advertising from $125.00 to $122.00 and set a “neutral” rating on the stock in a research report on Monday, August 11th. Finally, Morgan Stanley upped their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research report on Monday, August 4th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Lamar Advertising currently has an average rating of “Hold” and a consensus target price of $134.20.

Lamar Advertising Stock Performance

NASDAQ:LAMR opened at $126.35 on Monday. The company has a debt-to-equity ratio of 3.45, a quick ratio of 0.58 and a current ratio of 0.58. Lamar Advertising Company has a fifty-two week low of $99.84 and a fifty-two week high of $135.91. The firm has a market cap of $12.79 billion, a PE ratio of 29.38 and a beta of 1.36. The business has a 50 day moving average price of $122.45 and a 200-day moving average price of $121.40.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Thursday, November 6th. The real estate investment trust reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.06. The company had revenue of $585.54 million during the quarter, compared to analyst estimates of $584.00 million. Lamar Advertising had a net margin of 19.72% and a return on equity of 41.85%. Equities research analysts predict that Lamar Advertising Company will post 7.92 earnings per share for the current year.

Lamar Advertising Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 19th were paid a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend was Friday, September 19th. Lamar Advertising’s dividend payout ratio is 145.54%.

Insider Buying and Selling at Lamar Advertising

In related news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $124.28, for a total value of $2,734,160.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 14.99% of the company’s stock.

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.