Mitsubishi UFJ Asset Management Co. Ltd. Increases Position in Lamar Advertising Company $LAMR

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Lamar Advertising Company (NASDAQ:LAMR) by 3.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,211 shares of the real estate investment trust’s stock after purchasing an additional 1,998 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.06% of Lamar Advertising worth $7,671,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of LAMR. Prospera Financial Services Inc purchased a new stake in Lamar Advertising in the 2nd quarter worth $235,000. Van Cleef Asset Management Inc boosted its stake in shares of Lamar Advertising by 1.2% in the second quarter. Van Cleef Asset Management Inc now owns 212,582 shares of the real estate investment trust’s stock worth $25,799,000 after acquiring an additional 2,466 shares during the period. True Wealth Design LLC boosted its stake in shares of Lamar Advertising by 466.7% in the second quarter. True Wealth Design LLC now owns 204 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 168 shares during the period. Wedbush Securities Inc. grew its position in shares of Lamar Advertising by 21.6% during the second quarter. Wedbush Securities Inc. now owns 2,262 shares of the real estate investment trust’s stock worth $275,000 after purchasing an additional 402 shares in the last quarter. Finally, Savant Capital LLC raised its stake in Lamar Advertising by 100.5% during the 2nd quarter. Savant Capital LLC now owns 27,240 shares of the real estate investment trust’s stock valued at $3,306,000 after purchasing an additional 13,652 shares during the period. Institutional investors own 93.78% of the company’s stock.

Insider Buying and Selling at Lamar Advertising

In other Lamar Advertising news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $124.28, for a total transaction of $2,734,160.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 14.99% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

LAMR has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their price target on Lamar Advertising from $122.00 to $119.00 and set an “equal weight” rating on the stock in a report on Monday, August 11th. Weiss Ratings cut shares of Lamar Advertising from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, November 7th. Morgan Stanley boosted their target price on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report on Monday, August 4th. Finally, JPMorgan Chase & Co. raised their target price on shares of Lamar Advertising from $122.00 to $128.00 and gave the company a “neutral” rating in a research note on Wednesday. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Lamar Advertising currently has an average rating of “Hold” and a consensus target price of $129.25.

Lamar Advertising Stock Performance

NASDAQ LAMR opened at $128.09 on Thursday. The company has a debt-to-equity ratio of 3.45, a current ratio of 0.58 and a quick ratio of 0.58. Lamar Advertising Company has a 1-year low of $99.84 and a 1-year high of $135.91. The business has a 50 day simple moving average of $122.49 and a two-hundred day simple moving average of $121.64. The stock has a market capitalization of $12.97 billion, a PE ratio of 29.79 and a beta of 1.36.

Lamar Advertising (NASDAQ:LAMR) last posted its 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. Lamar Advertising had a return on equity of 41.85% and a net margin of 19.72%.The firm had revenue of $585.54 million during the quarter, compared to the consensus estimate of $584.00 million. On average, research analysts predict that Lamar Advertising Company will post 7.92 EPS for the current fiscal year.

Lamar Advertising Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 19th were paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend was Friday, September 19th. Lamar Advertising’s dividend payout ratio (DPR) is presently 145.54%.

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.