Aristeia Capital L.L.C. Takes $376,000 Position in Lamar Advertising Company $LAMR

Key Points

• Aristeia Capital L.L.C. acquired 3,301 shares of Lamar Advertising Company, valued at about $376,000, as part of its first-quarter investments.
• Lamar Advertising recently reported $2.22 EPS for the latest quarter, surpassing expectations, and has announced a quarterly dividend of $1.55 per share.
• Several hedge funds increased their stakes in Lamar Advertising, with AQR Capital Management lifting its holdings by 426.0% during the first quarter.

Aristeia Capital L.L.C. acquired a new position in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 3,301 shares of the real estate investment trust's stock, valued at approximately $376,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bessemer Group Inc. increased its holdings 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 worth $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 1st quarter worth $28,000. Farther Finance Advisors LLC boosted its position in Lamar Advertising by 101.2% during the 1st 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 purchased a new stake in Lamar Advertising during the 1st quarter worth $1,007,000. Finally, Fifth Third Bancorp boosted its position in Lamar Advertising by 9.3% during the 1st 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 during the period. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LAMR has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their price target on shares of Lamar Advertising from $125.00 to $122.00 and set a "neutral" rating for the company in a research report on Monday, August 11th. Wells Fargo & Company decreased their price target 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. Morgan Stanley upped 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. Finally, Citigroup raised shares of Lamar Advertising from a "neutral" rating to a "buy" rating and upped their price target for the stock from $114.00 to $135.00 in a research report on Thursday, May 29th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $134.20.

Lamar Advertising Stock Down 0.9%

NASDAQ:LAMR traded down $1.22 on Friday, reaching $127.60. The stock had a trading volume of 298,859 shares, compared to its average volume of 622,912. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 3.45. The company has a 50-day moving average of $124.31 and a 200 day moving average of $119.13. The stock has a market cap of $12.92 billion, a P/E ratio of 29.67 and a beta of 1.38. Lamar Advertising Company has a 12-month low of $99.84 and a 12-month high of $139.88.

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

Lamar Advertising Announces Dividend

The business 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. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date is Friday, September 19th. Lamar Advertising's dividend payout ratio is 144.19%.

Insider Activity

In other news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the company's stock in a transaction dated 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 document filed with the SEC, which is accessible through the SEC website. Company insiders own 14.99% of the company's stock.

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.