Sei Investments Co. grew its stake in Lamar Advertising Company (NASDAQ:LAMR – Free Report) by 8.4% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 86,715 shares of the real estate investment trust’s stock after buying an additional 6,724 shares during the period. Sei Investments Co.’s holdings in Lamar Advertising were worth $10,983,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently made changes to their positions in the company. Sivia Capital Partners LLC bought a new position in shares of Lamar Advertising during the 2nd quarter valued at approximately $510,000. Arrowstreet Capital Limited Partnership raised its stake in Lamar Advertising by 250.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 47,604 shares of the real estate investment trust’s stock worth $5,777,000 after acquiring an additional 34,002 shares during the period. Amundi raised its stake in Lamar Advertising by 224.6% during the 2nd quarter. Amundi now owns 2,048 shares of the real estate investment trust’s stock worth $255,000 after acquiring an additional 1,417 shares during the period. Gamco Investors INC. ET AL purchased a new position in Lamar Advertising during the second quarter valued at approximately $873,000. Finally, Cerity Partners LLC lifted its holdings in Lamar Advertising by 39.0% during the second quarter. Cerity Partners LLC now owns 37,166 shares of the real estate investment trust’s stock valued at $4,510,000 after purchasing an additional 10,423 shares in the last quarter. Institutional investors own 93.78% of the company’s stock.
Lamar Advertising Stock Performance
LAMR opened at $159.96 on Friday. The stock has a market capitalization of $16.23 billion, a price-to-earnings ratio of 29.51 and a beta of 1.19. The company has a fifty day moving average of $155.62 and a 200 day moving average of $141.84. Lamar Advertising Company has a fifty-two week low of $113.66 and a fifty-two week high of $166.33. The company has a debt-to-equity ratio of 3.33, a quick ratio of 0.58 and a current ratio of 0.58.
Lamar Advertising Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors 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 dividend on an annualized basis and a yield of 4.0%. Lamar Advertising’s dividend payout ratio is presently 118.08%.
Analyst Ratings Changes
LAMR has been the subject of a number of analyst reports. Wells Fargo & Company increased 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 note on Friday, May 8th. JPMorgan Chase & Co. restated a “neutral” rating and set a $153.00 target price on shares of Lamar Advertising in a research note on Wednesday, July 22nd. Morgan Stanley set a $145.00 target price on shares of Lamar Advertising in a report on Thursday, May 7th. Citigroup cut Lamar Advertising from a “buy” rating to a “neutral” rating and raised their price target for the company from $145.00 to $160.00 in a report on Friday, July 10th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Lamar Advertising in a research report on Friday, May 22nd. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Lamar Advertising currently has a consensus rating of “Hold” and an average price target of $154.67.
Check Out Our Latest Stock Report on Lamar Advertising
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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