AQR Capital Management LLC Buys 533,959 Shares of Lamar Advertising Company $LAMR

Key Points

• AQR Capital Management LLC increased its holdings in Lamar Advertising Company by 426.0% during the first quarter, owning a total of 659,308 shares worth approximately $74.34 million.
• Lamar Advertising's quarterly earnings surpassed analysts' estimates, reporting $2.22 earnings per share, however, revenue slightly missed expectations at $579.31 million.
• The company announced a quarterly dividend of $1.55, with an ex-dividend date on September 19th, resulting in an annualized yield of 4.8%.

AQR Capital Management LLC increased its stake in Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 426.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 659,308 shares of the real estate investment trust's stock after purchasing an additional 533,959 shares during the quarter. AQR Capital Management LLC owned approximately 0.64% of Lamar Advertising worth $74,340,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Bessemer Group Inc. lifted its position in shares of Lamar Advertising by 33.9% during the 1st quarter. Bessemer Group Inc. now owns 371 shares of the real estate investment trust's stock valued at $42,000 after buying an additional 94 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in Lamar Advertising during the first quarter valued at about $28,000. Farther Finance Advisors LLC boosted its position in Lamar Advertising by 101.2% during the first quarter. Farther Finance Advisors LLC now owns 2,446 shares of the real estate investment trust's stock worth $277,000 after purchasing an additional 1,230 shares during the period. SG Americas Securities LLC bought a new position in Lamar Advertising during the first quarter worth about $1,007,000. Finally, Fifth Third Bancorp increased its stake in shares of Lamar Advertising by 9.3% in the first quarter. Fifth Third Bancorp now owns 5,584 shares of the real estate investment trust's stock worth $635,000 after purchasing an additional 475 shares in the last quarter. 93.78% of the stock is owned by institutional investors.

Lamar Advertising Price Performance

LAMR traded down $1.43 on Wednesday, reaching $126.52. The company had a trading volume of 242,902 shares, compared to its average volume of 623,922. Lamar Advertising Company has a 52-week low of $99.84 and a 52-week high of $139.88. The company has a market cap of $12.81 billion, a price-to-earnings ratio of 29.42 and a beta of 1.38. The company has a debt-to-equity ratio of 3.45, a quick ratio of 0.58 and a current ratio of 0.58. The business has a 50 day simple moving average of $124.17 and a 200 day simple moving average of $119.04.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last issued its quarterly earnings results 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. 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. As a group, sell-side analysts anticipate that Lamar Advertising Company will post 7.92 EPS for the current year.

Lamar Advertising Dividend Announcement

The firm also recently disclosed 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 of this dividend is Friday, September 19th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.9%. Lamar Advertising's dividend payout ratio is 144.19%.

Insider Activity at Lamar Advertising

In related news, CFO Jay Lecoryelle Johnson sold 22,000 shares of Lamar Advertising 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 SEC, which is accessible through this hyperlink. Corporate insiders own 14.99% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented 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 report on Monday, August 11th. JPMorgan Chase & Co. cut their price target on Lamar Advertising from $125.00 to $122.00 and set a "neutral" rating for the company in a report on Monday, August 11th. Citigroup upgraded Lamar Advertising from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $114.00 to $135.00 in a research note on Thursday, May 29th. Finally, Morgan Stanley raised their target price on Lamar Advertising from $125.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Monday, August 4th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target 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.