Natixis Advisors LLC cut its stake in Lamar Advertising Company (NASDAQ:LAMR – Free Report) by 16.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 49,961 shares of the real estate investment trust’s stock after selling 9,813 shares during the quarter. Natixis Advisors LLC’s holdings in Lamar Advertising were worth $6,324,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the stock. M&T Bank Corp grew its stake in Lamar Advertising by 12,278.7% in the fourth quarter. M&T Bank Corp now owns 1,147,876 shares of the real estate investment trust’s stock valued at $145,298,000 after purchasing an additional 1,138,603 shares during the last quarter. Norges Bank purchased a new stake in shares of Lamar Advertising during the fourth quarter valued at about $104,705,000. AQR Capital Management LLC boosted its holdings in shares of Lamar Advertising by 123.8% in the 2nd quarter. AQR Capital Management LLC now owns 1,475,525 shares of the real estate investment trust’s stock valued at $177,152,000 after buying an additional 816,217 shares in the last quarter. Egerton Capital UK LLP bought a new stake in shares of Lamar Advertising in the 3rd quarter valued at about $88,615,000. Finally, Invesco Ltd. boosted its holdings in shares of Lamar Advertising by 97.8% in the 3rd quarter. Invesco Ltd. now owns 991,990 shares of the real estate investment trust’s stock valued at $121,439,000 after buying an additional 490,463 shares in the last quarter. 93.78% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on LAMR. Wells Fargo & Company lifted their price objective on shares of Lamar Advertising from $136.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Weiss Ratings restated a “buy (b)” rating on shares of Lamar Advertising in a research note on Friday, May 22nd. TD Cowen raised their target price on shares of Lamar Advertising from $150.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Morgan Stanley set a $145.00 price objective on Lamar Advertising in a research report on Thursday, May 7th. Finally, UBS Group set a $150.00 target price on Lamar Advertising in a research note on Monday, February 23rd. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.
Lamar Advertising Stock Down 1.1%
Lamar Advertising stock opened at $149.69 on Tuesday. The company has a debt-to-equity ratio of 3.33, a quick ratio of 0.58 and a current ratio of 0.58. The business’s 50-day simple moving average is $140.93 and its two-hundred day simple moving average is $134.30. The company has a market cap of $15.19 billion, a PE ratio of 27.62 and a beta of 1.20. Lamar Advertising Company has a fifty-two week low of $113.66 and a fifty-two week high of $158.69.
Lamar Advertising (NASDAQ:LAMR – Get Free Report) last released its earnings results on Thursday, May 7th. The real estate investment trust reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.18. The firm had revenue of $528.00 million during the quarter, compared to the consensus estimate of $522.86 million. Lamar Advertising had a return on equity of 55.53% and a net margin of 24.01%. Equities analysts anticipate that Lamar Advertising Company will post 8.41 EPS for the current year.
Lamar Advertising Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be given a $1.60 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $6.40 dividend on an annualized basis and a yield of 4.3%. Lamar Advertising’s dividend payout ratio is currently 118.08%.
Insider Buying and Selling
In related news, EVP Ross Lamar Reilly sold 5,969 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $2,039,102.50. This represents a 27.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 15.24% of the stock is currently owned by corporate insiders.
Lamar Advertising Profile
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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