Lamar Advertising Company (NASDAQ:LAMR – Get Free Report) announced a quarterly dividend on Thursday, May 14th. Shareholders of record on Tuesday, June 16th will be given a dividend of 1.60 per share by the real estate investment trust on Tuesday, June 30th. This represents a c) annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Tuesday, June 16th.
Lamar Advertising has increased its dividend by an average of 0.2%per year over the last three years and has increased its dividend every year for the last 5 years. Lamar Advertising has a payout ratio of 117.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Lamar Advertising to earn $8.81 per share next year, which means the company should continue to be able to cover its $6.40 annual dividend with an expected future payout ratio of 72.6%.
Lamar Advertising Stock Performance
LAMR opened at $147.41 on Friday. The business’s 50-day moving average price is $134.52 and its two-hundred day moving average price is $130.93. Lamar Advertising has a 1 year low of $113.05 and a 1 year high of $158.69. The company has a market capitalization of $14.94 billion, a price-to-earnings ratio of 27.20 and a beta of 1.18. The company has a debt-to-equity ratio of 3.33, a current ratio of 0.58 and a quick ratio of 0.58.
Insider Activity
In related news, EVP Ross Lamar Reilly sold 5,969 shares of Lamar Advertising stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $128.65, for a total value of $767,911.85. Following the sale, the executive vice president owned 15,850 shares of the company’s stock, valued at approximately $2,039,102.50. The trade was a 27.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 15.24% of the company’s stock.
Hedge Funds Weigh In On Lamar Advertising
A number of institutional investors have recently bought and sold shares of the business. Boston Partners increased its position in Lamar Advertising by 2.0% during the third quarter. Boston Partners now owns 2,384,715 shares of the real estate investment trust’s stock worth $291,928,000 after buying an additional 46,361 shares during the last quarter. Geode Capital Management LLC increased its position in Lamar Advertising by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 2,382,137 shares of the real estate investment trust’s stock worth $301,573,000 after buying an additional 32,542 shares during the last quarter. Wellington Management Group LLP increased its position in Lamar Advertising by 3.3% during the fourth quarter. Wellington Management Group LLP now owns 2,027,080 shares of the real estate investment trust’s stock worth $256,588,000 after buying an additional 64,824 shares during the last quarter. Northern Trust Corp increased its position in Lamar Advertising by 23.9% during the third quarter. Northern Trust Corp now owns 1,629,554 shares of the real estate investment trust’s stock worth $199,490,000 after buying an additional 314,235 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in Lamar Advertising by 7.6% during the third quarter. AQR Capital Management LLC now owns 1,587,887 shares of the real estate investment trust’s stock worth $193,166,000 after buying an additional 112,362 shares during the last quarter. Institutional investors and hedge funds own 93.78% of the company’s stock.
About Lamar Advertising
Lamar Advertising Company (NASDAQ: LAMR) is one of North America’s largest outdoor advertising firms, specializing in out-of-home media solutions. Since its founding in 1902, the company has grown through a combination of organic expansion and strategic acquisitions to offer a broad portfolio of advertising products. Its core business centers on billboard advertising, encompassing traditional static billboards and a rapidly expanding network of digital displays. These assets enable advertisers to reach consumers with high-impact messaging along highways, in urban centers, and at high-traffic intersections.
In addition to highway billboards, Lamar offers a variety of supplemental out-of-home formats, including transit advertising on buses and shelters, and logo signage at travel plazas and gas stations.
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