Bleakley Financial Group LLC Grows Position in Lamar Advertising Company $LAMR

Bleakley Financial Group LLC boosted its position in Lamar Advertising Company (NASDAQ:LAMR) by 20.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,698 shares of the real estate investment trust’s stock after purchasing an additional 3,553 shares during the quarter. Bleakley Financial Group LLC’s holdings in Lamar Advertising were worth $2,622,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LAMR. Sivia Capital Partners LLC purchased a new stake in shares of Lamar Advertising in the 2nd quarter worth approximately $510,000. Arrowstreet Capital Limited Partnership raised its stake 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 valued at $5,777,000 after buying an additional 34,002 shares during the last quarter. Amundi raised its stake in Lamar Advertising by 224.6% during the second quarter. Amundi now owns 2,048 shares of the real estate investment trust’s stock valued at $255,000 after buying an additional 1,417 shares during the last quarter. Gamco Investors INC. ET AL bought a new stake in Lamar Advertising in the second quarter worth $873,000. Finally, Cerity Partners LLC grew its stake in shares of Lamar Advertising by 39.0% in the second quarter. Cerity Partners LLC now owns 37,166 shares of the real estate investment trust’s stock worth $4,510,000 after acquiring 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 analyst reports. Wells Fargo & Company raised their price objective on shares of Lamar Advertising from $136.00 to $150.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Lamar Advertising in a research report on Friday, May 22nd. Morgan Stanley set a $145.00 price objective on shares of Lamar Advertising in a report on Thursday, May 7th. TD Cowen upped their price objective on Lamar Advertising from $150.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Finally, Citigroup downgraded Lamar Advertising from a “buy” rating to a “neutral” rating and increased their target price for the company from $145.00 to $160.00 in a research note on Friday, July 10th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $150.50.

Lamar Advertising Stock Performance

Shares of LAMR opened at $160.29 on Thursday. 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 Company has a one year low of $113.66 and a one year high of $162.96. The firm has a market capitalization of $16.26 billion, a P/E ratio of 29.57 and a beta of 1.19. The business has a fifty day moving average of $153.07 and a 200 day moving average of $139.06.

Lamar Advertising (NASDAQ:LAMR) last posted its earnings results on Thursday, May 7th. The real estate investment trust reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.18. The company had revenue of $528.00 million for the quarter, compared to the consensus estimate of $522.86 million. Lamar Advertising had a return on equity of 55.53% and a net margin of 24.01%. As a group, sell-side analysts anticipate that Lamar Advertising Company will post 8.41 EPS for the current year.

Lamar Advertising Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors 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 dividend on an annualized basis and a dividend yield of 4.0%. Lamar Advertising’s dividend payout ratio (DPR) is presently 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.