Adelante Capital Management LLC Sells 4,976 Shares of Lamar Advertising Company $LAMR

Key Points

• Adelante Capital Management LLC reduced its holdings in Lamar Advertising Company by 8.3%, owning approximately 54,787 shares valued at $6.23 million after selling off 4,976 shares.
• Lamar Advertising reported an earnings per share of $2.22 for the last quarter, exceeding analyst estimates of $1.48, although revenue fell slightly short at $579.31 million.
• The company recently announced a quarterly dividend of $1.55, resulting in an annualized dividend yield of 4.8%.

Adelante Capital Management LLC trimmed its holdings in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 8.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 54,787 shares of the real estate investment trust's stock after selling 4,976 shares during the quarter. Adelante Capital Management LLC owned about 0.05% of Lamar Advertising worth $6,234,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Bank of America Corp DE increased its holdings in shares of Lamar Advertising by 3.7% during the fourth quarter. Bank of America Corp DE now owns 414,176 shares of the real estate investment trust's stock worth $50,422,000 after purchasing an additional 14,676 shares during the period. Baird Financial Group Inc. raised its holdings in Lamar Advertising by 21.2% in the 4th quarter. Baird Financial Group Inc. now owns 2,184 shares of the real estate investment trust's stock valued at $266,000 after acquiring an additional 382 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of Lamar Advertising by 3.6% during the 4th quarter. Cetera Investment Advisers now owns 63,789 shares of the real estate investment trust's stock valued at $7,766,000 after acquiring an additional 2,210 shares during the period. Crestline Management LP grew its holdings in shares of Lamar Advertising by 101.0% during the 4th quarter. Crestline Management LP now owns 5,123 shares of the real estate investment trust's stock worth $624,000 after purchasing an additional 2,574 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of Lamar Advertising by 394.5% during the 4th quarter. Deutsche Bank AG now owns 69,138 shares of the real estate investment trust's stock worth $8,417,000 after purchasing an additional 55,157 shares in the last quarter. Institutional investors own 93.78% of the company's stock.

Insider Activity at Lamar Advertising

In related news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $124.28, for a total transaction of $2,734,160.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 14.99% of the stock is currently owned by corporate insiders.

Lamar Advertising Stock Down 1.0%

Shares of NASDAQ:LAMR traded down $1.34 during midday trading on Wednesday, hitting $126.60. 429,568 shares of the company's stock were exchanged, compared to its average volume of 645,380. Lamar Advertising Company has a 12 month low of $99.84 and a 12 month high of $139.88. The company has a market cap of $12.81 billion, a PE ratio of 15.64 and a beta of 1.38. The company has a debt-to-equity ratio of 3.45, a current ratio of 0.58 and a quick ratio of 0.58. The stock has a 50 day moving average price of $124.22 and a 200-day moving average price of $119.09.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last issued its quarterly earnings data on Friday, August 8th. The real estate investment trust reported $2.22 EPS for the quarter, topping analysts' consensus estimates of $1.48 by $0.74. The firm had revenue of $579.31 million during the quarter, compared to analyst estimates of $580.72 million. Lamar Advertising had a return on equity of 41.85% and a net margin of 19.72%. Lamar Advertising has set its FY 2025 guidance at 6.090-6.11 EPS. On average, sell-side analysts anticipate that Lamar Advertising Company will post 7.92 EPS for the current fiscal year.

Lamar Advertising Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 19th will be paid a $1.55 dividend. The ex-dividend date is Friday, September 19th. This represents a $6.20 annualized dividend and a dividend yield of 4.9%. Lamar Advertising's dividend payout ratio is presently 144.19%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on LAMR shares. Wells Fargo & Company cut their price objective on shares of Lamar Advertising from $122.00 to $119.00 and set an "equal weight" rating for the company in a research report on Monday, August 11th. Citigroup upgraded Lamar Advertising from a "neutral" rating to a "buy" rating and increased their target price for the company from $114.00 to $135.00 in a research report on Thursday, May 29th. JPMorgan Chase & Co. decreased their price objective on Lamar Advertising from $125.00 to $122.00 and set a "neutral" rating for the company in a report on Monday, August 11th. Finally, Morgan Stanley boosted their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Monday, August 4th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $134.20.

Lamar Advertising Company Profile

Lamar Advertising Company operates as an outdoor advertising company in the United States and Canada. The company owns and operates billboards, logo signs, and transit advertising displays, as well as rents space for advertising on billboards, buses, shelters, benches, logo plates, and in airport terminals.