Ameriprise Financial Inc. Sells 54,433 Shares of Lamar Advertising Company $LAMR

Key Points

• Ameriprise Financial Inc. has reduced its stake in Lamar Advertising Company by 6.2%, selling 54,433 shares and holding a total of 829,556 shares worth approximately $94.39 million.
• Analysts have mixed ratings on Lamar Advertising, with JPMorgan and Wells Fargo lowering their price targets, while Citigroup upgraded the stock to a "buy" rating.
• Lamar Advertising announced earnings results surpassing expectations, reporting $2.22 EPS and guiding for 6.090-6.11 EPS in FY 2025, positioning itself favorably in the market.

Ameriprise Financial Inc. trimmed its stake in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 6.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 829,556 shares of the real estate investment trust's stock after selling 54,433 shares during the quarter. Ameriprise Financial Inc. owned about 0.81% of Lamar Advertising worth $94,387,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LAMR. Stifel Financial Corp raised its position in shares of Lamar Advertising by 26.1% during the 4th quarter. Stifel Financial Corp now owns 45,933 shares of the real estate investment trust's stock worth $5,592,000 after buying an additional 9,511 shares in the last quarter. Hsbc Holdings PLC raised its position in shares of Lamar Advertising by 19.1% during the 4th quarter. Hsbc Holdings PLC now owns 16,988 shares of the real estate investment trust's stock worth $2,055,000 after buying an additional 2,729 shares in the last quarter. Voya Investment Management LLC raised its position in shares of Lamar Advertising by 1.1% during the 4th quarter. Voya Investment Management LLC now owns 70,316 shares of the real estate investment trust's stock worth $8,560,000 after buying an additional 774 shares in the last quarter. Northern Trust Corp raised its position in shares of Lamar Advertising by 50.5% during the 4th quarter. Northern Trust Corp now owns 1,278,397 shares of the real estate investment trust's stock worth $155,632,000 after buying an additional 428,744 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Lamar Advertising by 3.1% during the 4th quarter. AQR Capital Management LLC now owns 125,349 shares of the real estate investment trust's stock worth $15,260,000 after buying an additional 3,720 shares in the last quarter. 93.78% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Transactions at Lamar Advertising

In related news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the company's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $124.28, for a total value of $2,734,160.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 14.99% of the company's stock.

Lamar Advertising Stock Up 0.9%

Shares of NASDAQ:LAMR traded up $1.12 during midday trading on Friday, hitting $127.25. 497,449 shares of the stock were exchanged, compared to its average volume of 807,395. The company has a debt-to-equity ratio of 3.45, a quick ratio of 0.58 and a current ratio of 0.58. Lamar Advertising Company has a 52-week low of $99.84 and a 52-week high of $139.88. The business's fifty day simple moving average is $123.32 and its two-hundred day simple moving average is $119.13. The company has a market capitalization of $12.88 billion, a PE ratio of 29.59 and a beta of 1.36.

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

Lamar Advertising Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 19th will be issued a $1.55 dividend. The ex-dividend date is Friday, September 19th. This represents a $6.20 dividend on an annualized basis and a yield of 4.9%. Lamar Advertising's dividend payout ratio is currently 144.19%.

About Lamar Advertising

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.