MTM Investment Management LLC increased its position in shares of Lamar Advertising Company (NASDAQ:LAMR – Free Report) by 121.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,760 shares of the real estate investment trust’s stock after buying an additional 3,160 shares during the period. MTM Investment Management LLC’s holdings in Lamar Advertising were worth $730,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of LAMR. Simon Quick Advisors LLC bought a new position in Lamar Advertising in the 1st quarter worth $253,000. Kera Capital Partners Inc. boosted its holdings in Lamar Advertising by 4.4% during the first quarter. Kera Capital Partners Inc. now owns 7,269 shares of the real estate investment trust’s stock valued at $921,000 after acquiring an additional 307 shares during the period. Assetmark Inc. boosted its holdings in Lamar Advertising by 13.5% during the first quarter. Assetmark Inc. now owns 137,988 shares of the real estate investment trust’s stock valued at $17,478,000 after acquiring an additional 16,365 shares during the period. Prosperity Consulting Group LLC grew its position in shares of Lamar Advertising by 12.1% in the first quarter. Prosperity Consulting Group LLC now owns 2,486 shares of the real estate investment trust’s stock valued at $315,000 after purchasing an additional 268 shares during the last quarter. Finally, D.A. Davidson & CO. grew its position in shares of Lamar Advertising by 18.4% in the first quarter. D.A. Davidson & CO. now owns 3,366 shares of the real estate investment trust’s stock valued at $426,000 after purchasing an additional 524 shares during the last quarter. 93.78% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on LAMR. Citigroup cut Lamar Advertising from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $145.00 to $160.00 in a research report on Friday, July 10th. TD Cowen raised their target price on Lamar Advertising from $150.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Lamar Advertising in a research report on Friday, May 22nd. Morgan Stanley set a $145.00 price target on Lamar Advertising in a report on Thursday, May 7th. Finally, Wells Fargo & Company increased their price objective on Lamar Advertising from $136.00 to $150.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Lamar Advertising presently has an average rating of “Hold” and a consensus price target of $150.50.
Lamar Advertising Stock Performance
NASDAQ:LAMR opened at $162.32 on Friday. The firm’s 50-day moving average is $153.39 and its 200-day moving average is $139.47. Lamar Advertising Company has a 52-week low of $113.66 and a 52-week high of $164.38. 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 company has a market cap of $16.47 billion, a price-to-earnings ratio of 29.95 and a beta of 1.19.
Lamar Advertising (NASDAQ:LAMR – Get Free Report) last released its earnings results on Thursday, May 7th. The real estate investment trust reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.18. Lamar Advertising had a net margin of 24.01% and a return on equity of 55.53%. The business had revenue of $528.00 million during the quarter, compared to analysts’ expectations of $522.86 million. Equities research analysts anticipate that Lamar Advertising Company will post 8.41 earnings per share for the current year.
Lamar Advertising Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were issued a $1.60 dividend. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $6.40 annualized dividend and a yield of 3.9%. Lamar Advertising’s dividend payout ratio is 118.08%.
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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