Lamar Advertising Company $LAMR Stock: Miller Howard Investments Inc. NY Decreases Stake

Miller Howard Investments Inc. NY decreased its stake in Lamar Advertising Company (NASDAQ:LAMR) by 0.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 465,454 shares of the real estate investment trust’s stock after selling 4,009 shares during the period. Lamar Advertising makes up 1.8% of Miller Howard Investments Inc. NY’s portfolio, making the stock its 13th largest holding. Miller Howard Investments Inc. NY owned approximately 0.46% of Lamar Advertising worth $67,077,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quantinno Capital Management LP increased its position in shares of Lamar Advertising by 49.7% during the first quarter. Quantinno Capital Management LP now owns 677,202 shares of the real estate investment trust’s stock valued at $85,774,000 after purchasing an additional 224,775 shares during the period. Diamond Hill Capital Management LLC Investment Advisor acquired a new position in Lamar Advertising in the second quarter worth $26,469,000. Public Employees Retirement System of Ohio acquired a new position in Lamar Advertising during the 2nd quarter worth about $20,052,000. Adelante Capital Management LLC acquired a new position in shares of Lamar Advertising during the second quarter worth approximately $19,122,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of Lamar Advertising in the first quarter valued at approximately $12,440,000. 93.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Lamar Advertising in a report on Wednesday, August 19th. Morgan Stanley set a $170.00 target price on shares of Lamar Advertising in a research note on Friday, August 7th. Wells Fargo & Company lifted their price objective on Lamar Advertising from $150.00 to $151.00 and gave the company an “equal weight” rating in a report on Wednesday, August 12th. Citigroup lowered shares of Lamar Advertising from a “buy” rating to a “neutral” rating and upped their target price for the stock from $145.00 to $160.00 in a research note on Friday, July 10th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Lamar Advertising from $153.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $160.17.

Lamar Advertising Stock Up 1.3%

NASDAQ:LAMR opened at $157.01 on Tuesday. The firm has a market capitalization of $15.94 billion, a price-to-earnings ratio of 18.11 and a beta of 1.20. Lamar Advertising Company has a twelve month low of $114.45 and a twelve month high of $166.33. The stock’s 50 day moving average price is $148.80 and its two-hundred day moving average price is $143.98. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 3.29.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Thursday, August 6th. The real estate investment trust reported $1.58 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.58. The firm had revenue of $616.75 million for the quarter, compared to analyst estimates of $606.61 million. Lamar Advertising had a net margin of 23.90% and a return on equity of 54.94%. Lamar Advertising has set its FY 2026 guidance at 5.950-5.990 EPS. Equities research analysts expect that Lamar Advertising Company will post 8.40 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Monday, September 21st were paid a $1.65 dividend. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.60. The ex-dividend date was Monday, September 21st. This represents a $6.60 dividend on an annualized basis and a yield of 4.2%. Lamar Advertising’s dividend payout ratio (DPR) is currently 120.44%.

Insider Activity at Lamar Advertising

In other news, Director Thomas Reifenheiser sold 8,099 shares of the stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $149.03, for a total value of $1,206,993.97. Following the transaction, the director directly owned 36,387 shares of the company’s stock, valued at $5,422,754.61. This represents a 18.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 15.24% of the stock is currently owned by corporate insiders.

Lamar Advertising Company Profile

Lamar Advertising Company is an outdoor advertising company that provides businesses with advertising displays across the United States. Its offerings include traditional and digital billboards, bulletin and poster displays, transit advertising, and other out-of-home media formats.

The company also provides logo sign and tourist-oriented directional signage services through displays located along highways and other major transportation routes. Its digital advertising network allows advertisers to deliver messages that can be updated more frequently than traditional static signage.

Lamar traces its roots to 1902 and is headquartered in Baton Rouge, Louisiana.