Quantinno Capital Management LP raised its position in Lamar Advertising Company (NASDAQ:LAMR – Free Report) by 49.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 677,202 shares of the real estate investment trust’s stock after purchasing an additional 224,775 shares during the period. Quantinno Capital Management LP owned 0.67% of Lamar Advertising worth $85,774,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. First Citizens Bank & Trust Co. increased its holdings in shares of Lamar Advertising by 0.9% in the first quarter. First Citizens Bank & Trust Co. now owns 8,821 shares of the real estate investment trust’s stock worth $1,117,000 after purchasing an additional 75 shares during the period. Praxis Investment Management Inc. boosted its stake in Lamar Advertising by 2.7% during the first quarter. Praxis Investment Management Inc. now owns 2,846 shares of the real estate investment trust’s stock valued at $360,000 after buying an additional 76 shares during the period. Gamco Investors INC. ET AL boosted its stake in Lamar Advertising by 1.0% during the first quarter. Gamco Investors INC. ET AL now owns 7,523 shares of the real estate investment trust’s stock valued at $953,000 after buying an additional 78 shares during the period. Argent Advisors Inc. grew its position in Lamar Advertising by 0.6% during the first quarter. Argent Advisors Inc. now owns 14,426 shares of the real estate investment trust’s stock worth $1,827,000 after buying an additional 80 shares in the last quarter. Finally, Glenmede Investment Management LP grew its position in Lamar Advertising by 3.2% during the third quarter. Glenmede Investment Management LP now owns 2,590 shares of the real estate investment trust’s stock worth $317,000 after buying an additional 81 shares in the last quarter. 93.78% of the stock is currently owned by hedge funds and other institutional investors.
Lamar Advertising Price Performance
LAMR opened at $160.99 on Tuesday. The stock has a 50-day moving average price of $154.82 and a 200-day moving average price of $140.99. Lamar Advertising Company has a 12-month low of $113.66 and a 12-month high of $164.38. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 3.33. The stock has a market capitalization of $16.34 billion, a P/E ratio of 29.70 and a beta of 1.19.
Lamar Advertising Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were paid a dividend of $1.60 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $6.40 annualized dividend and a dividend yield of 4.0%. Lamar Advertising’s dividend payout ratio (DPR) is 118.08%.
Wall Street Analyst Weigh In
LAMR has been the topic of several recent analyst reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $153.00 price target on shares of Lamar Advertising in a report on Wednesday, July 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 target price on shares of Lamar Advertising in a research report on Thursday, May 7th. Wells Fargo & Company boosted their price target on shares of Lamar Advertising from $136.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Lamar Advertising in a research note on Friday, May 22nd. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $154.67.
Check Out Our Latest Research Report on LAMR
Lamar Advertising Company 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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