Thrivent Financial for Lutherans boosted its position in Lamar Advertising Company (NASDAQ:LAMR – Free Report) by 67.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 34,586 shares of the real estate investment trust’s stock after purchasing an additional 13,974 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Lamar Advertising were worth $4,378,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Boston Partners lifted its stake in Lamar Advertising by 2.0% in the 3rd quarter. Boston Partners now owns 2,384,715 shares of the real estate investment trust’s stock worth $291,928,000 after purchasing an additional 46,361 shares in the last quarter. Northern Trust Corp lifted its stake in Lamar Advertising by 23.9% in the 3rd quarter. Northern Trust Corp now owns 1,629,554 shares of the real estate investment trust’s stock worth $199,490,000 after purchasing an additional 314,235 shares in the last quarter. AQR Capital Management LLC lifted its stake in Lamar Advertising by 7.6% in the 3rd quarter. AQR Capital Management LLC now owns 1,587,887 shares of the real estate investment trust’s stock worth $193,166,000 after purchasing an additional 112,362 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in Lamar Advertising by 13.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 1,478,299 shares of the real estate investment trust’s stock worth $180,973,000 after purchasing an additional 178,880 shares in the last quarter. Finally, Hamlin Capital Management LLC lifted its stake in Lamar Advertising by 6.5% in the 3rd quarter. Hamlin Capital Management LLC now owns 1,425,045 shares of the real estate investment trust’s stock worth $174,454,000 after purchasing an additional 86,626 shares in the last quarter. 93.78% of the stock is currently owned by hedge funds and other institutional investors.
Lamar Advertising Price Performance
Shares of NASDAQ:LAMR opened at $153.10 on Friday. The company’s fifty day moving average price is $136.12 and its 200-day moving average price is $132.18. The firm has a market capitalization of $15.54 billion, a price-to-earnings ratio of 28.25 and a beta of 1.18. Lamar Advertising Company has a one year low of $113.05 and a one year high of $158.69. The company has a debt-to-equity ratio of 3.33, a current ratio of 0.58 and a quick ratio of 0.58.
Lamar Advertising Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be issued a $1.60 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 4.2%. Lamar Advertising’s dividend payout ratio is presently 118.08%.
Insider Activity at Lamar Advertising
In other news, EVP Ross Lamar Reilly sold 5,969 shares of the stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $128.65, for a total value of $767,911.85. Following the transaction, the executive vice president owned 15,850 shares of the company’s stock, valued at $2,039,102.50. This represents a 27.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 15.24% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Several research firms have issued reports on LAMR. Wells Fargo & Company increased their target price 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. Morgan Stanley set a $145.00 target price on shares of Lamar Advertising in a research note on Thursday, May 7th. TD Cowen increased their price target on shares of Lamar Advertising from $150.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. UBS Group set a $150.00 price target on shares of Lamar Advertising in a report on Monday, February 23rd. Finally, Weiss Ratings raised shares of Lamar Advertising from a “hold (c+)” rating to a “buy (b)” rating in a report on Monday, February 23rd. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $148.00.
Check Out Our Latest Stock 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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