Lamar Advertising Company $LAMR Shares Purchased by Lazard Asset Management LLC

Lazard Asset Management LLC lifted its stake in Lamar Advertising Company (NASDAQ:LAMR) by 220.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,109 shares of the real estate investment trust’s stock after buying an additional 19,324 shares during the period. Lazard Asset Management LLC’s holdings in Lamar Advertising were worth $3,560,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Sivia Capital Partners LLC purchased a new position in shares of Lamar Advertising during the second quarter worth approximately $510,000. Arrowstreet Capital Limited Partnership grew its holdings in Lamar Advertising by 250.0% during the second 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 increased its holdings in shares of Lamar Advertising by 224.6% in the 2nd quarter. Amundi now owns 2,048 shares of the real estate investment trust’s stock valued at $255,000 after purchasing an additional 1,417 shares in the last quarter. Gamco Investors INC. ET AL purchased a new position in Lamar Advertising in the second quarter valued at about $873,000. Finally, Cerity Partners LLC raised 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 worth $4,510,000 after purchasing an additional 10,423 shares during the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Wall Street Analysts Forecast Growth

LAMR has been the subject of a number of research reports. TD Cowen lifted their target price on shares of Lamar Advertising from $150.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Wells Fargo & Company raised their price target on Lamar Advertising from $136.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Citigroup lowered shares of Lamar Advertising from a “buy” rating to a “neutral” rating and lifted their price target for the company from $145.00 to $160.00 in a report on Friday, July 10th. Morgan Stanley set a $145.00 target price on Lamar Advertising in a report on Thursday, May 7th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Lamar Advertising in a research report on Friday, May 22nd. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $154.67.

Lamar Advertising Stock Down 0.4%

LAMR stock opened at $159.96 on Friday. The company has a market capitalization of $16.23 billion, a P/E ratio of 29.51 and a beta of 1.19. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 3.33. Lamar Advertising Company has a twelve month low of $113.66 and a twelve month high of $166.33. The firm has a 50 day simple moving average of $155.62 and a 200-day simple moving average of $141.84.

Lamar Advertising (NASDAQ:LAMR) last issued its earnings results on Thursday, May 7th. The real estate investment trust reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $522.86 million. On average, equities research analysts predict that Lamar Advertising Company will post 8.41 earnings per share for the current fiscal year.

Lamar Advertising Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Tuesday, June 16th. Lamar Advertising’s dividend payout ratio is 118.08%.

About Lamar Advertising

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.