Resona Asset Management Co. Ltd. Trims Stock Position 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 filing with the Securities and Exchange Commission. The institutional investor owned 35,218 shares of the real estate investment trust’s stock after selling 3,102 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Lamar Advertising were worth $4,258,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. 1248 Management LLC purchased a new position in shares of Lamar Advertising during the first quarter valued at about $26,000. Ameritas Advisory Services LLC purchased a new stake in Lamar Advertising in the second quarter worth about $28,000. HHM Wealth Advisors LLC boosted its position in 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 acquiring an additional 269 shares in the last quarter. Truvestments Capital LLC grew its holdings in shares of Lamar Advertising by 79.5% during the 1st quarter. Truvestments Capital LLC now owns 316 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 140 shares during the period. Finally, MAI Capital Management grew its holdings in shares of Lamar Advertising by 44.0% during the 1st quarter. MAI Capital Management now owns 360 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 110 shares during the period. Institutional investors own 93.78% of the company’s stock.

Insiders Place Their Bets

In other Lamar Advertising news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $124.28, for a total transaction of $2,734,160.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 14.99% of the company’s stock.

Lamar Advertising Stock Performance

Lamar Advertising stock opened at $126.35 on Monday. Lamar Advertising Company has a twelve month low of $99.84 and a twelve month high of $135.91. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 3.45. The company has a market capitalization of $12.79 billion, a P/E ratio of 29.38 and a beta of 1.36. The stock’s 50 day moving average is $122.45 and its 200 day moving average is $121.40.

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

Lamar Advertising Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have recently commented on LAMR shares. JPMorgan Chase & Co. lowered their target price on Lamar Advertising from $125.00 to $122.00 and set a “neutral” rating for the company in a research note on Monday, August 11th. Morgan Stanley increased their price objective on Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report on Monday, August 4th. Weiss Ratings lowered Lamar Advertising from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday. Finally, Wells Fargo & Company dropped 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. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Lamar Advertising currently has an average rating of “Hold” and a consensus price target of $134.20.

Lamar Advertising 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.