Bayforest Capital Ltd Invests $172,000 in Lamar Advertising Company $LAMR

Bayforest Capital Ltd purchased a new position in Lamar Advertising Company (NASDAQ:LAMR) during the 2nd quarter, HoldingsChannel reports. The fund purchased 1,415 shares of the real estate investment trust’s stock, valued at approximately $172,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Hamlin Capital Management LLC lifted its stake in shares of Lamar Advertising by 3.4% in the first quarter. Hamlin Capital Management LLC now owns 1,311,526 shares of the real estate investment trust’s stock worth $149,225,000 after buying an additional 43,081 shares in the last quarter. Northern Trust Corp raised its stake in Lamar Advertising by 0.4% during the first quarter. Northern Trust Corp now owns 1,282,892 shares of the real estate investment trust’s stock worth $145,967,000 after purchasing an additional 4,495 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Lamar Advertising by 0.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,109,668 shares of the real estate investment trust’s stock worth $126,258,000 after purchasing an additional 7,426 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Lamar Advertising by 5.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 917,833 shares of the real estate investment trust’s stock worth $104,431,000 after purchasing an additional 50,004 shares during the period. Finally, HighTower Advisors LLC raised its stake in Lamar Advertising by 4.3% during the first quarter. HighTower Advisors LLC now owns 674,089 shares of the real estate investment trust’s stock worth $76,698,000 after purchasing an additional 27,823 shares during the period. 93.78% of the stock is owned by hedge funds and other institutional investors.

Lamar Advertising Price Performance

Lamar Advertising stock opened at $118.11 on Friday. The company’s 50 day simple moving average is $123.32 and its 200-day simple moving average is $120.00. The company has a market capitalization of $11.96 billion, a price-to-earnings ratio of 27.47 and a beta of 1.37. Lamar Advertising Company has a 1 year low of $99.84 and a 1 year high of $137.47. The company has a debt-to-equity ratio of 3.45, a quick ratio of 0.58 and a current ratio of 0.58.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings results on Friday, August 8th. The real estate investment trust reported $2.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.48 by $0.74. The business had revenue of $579.31 million for the quarter, compared to the consensus estimate of $580.72 million. Lamar Advertising had a net margin of 19.72% and a return on equity of 41.85%. Lamar Advertising has set its FY 2025 guidance at 6.090-6.11 EPS. As a group, equities research analysts expect that Lamar Advertising Company will post 7.92 earnings per share for the current year.

Lamar Advertising Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders 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 5.2%. The ex-dividend date of this dividend was Friday, September 19th. Lamar Advertising’s payout ratio is 144.19%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LAMR. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Lamar Advertising in a research note on Wednesday, October 8th. Wells Fargo & Company reduced their target price on shares of Lamar Advertising from $122.00 to $119.00 and set an “equal weight” rating on the stock in a research note on Monday, August 11th. Morgan Stanley lifted their target price on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Monday, August 4th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Lamar Advertising from $125.00 to $122.00 and set a “neutral” rating on the stock in a research note on Monday, August 11th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $134.20.

Insider Buying and Selling at Lamar Advertising

In related news, CFO Jay Lecoryelle Johnson sold 22,000 shares of Lamar Advertising stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $124.28, for a total value of $2,734,160.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 14.99% of the company’s stock.

About Lamar Advertising

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.