Atticus Wealth Management LLC Invests $344,000 in Lamar Advertising Company $LAMR

Key Points

• Atticus Wealth Management LLC purchased 2,831 shares of Lamar Advertising Company, valued at approximately $344,000, during the second quarter.
• Several institutional investors have also increased their stakes in LAMR, with AQR Capital Management raising its holdings by 426% in the first quarter.
• Lamar Advertising recently announced a quarterly dividend of $1.55 per share, representing an annualized yield of 4.9%.

Atticus Wealth Management LLC purchased a new stake in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,831 shares of the real estate investment trust's stock, valued at approximately $344,000.

A number of other hedge funds also recently made changes to their positions in LAMR. Hamlin Capital Management LLC raised its holdings in Lamar Advertising by 3.4% during the first quarter. Hamlin Capital Management LLC now owns 1,311,526 shares of the real estate investment trust's stock worth $149,225,000 after purchasing an additional 43,081 shares in the last quarter. Northern Trust Corp raised its holdings in Lamar Advertising by 0.4% during the first quarter. Northern Trust Corp now owns 1,282,892 shares of the real estate investment trust's stock worth $145,967,000 after purchasing an additional 4,495 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Lamar Advertising by 0.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,109,668 shares of the real estate investment trust's stock worth $126,258,000 after purchasing an additional 7,426 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Lamar Advertising by 5.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 917,833 shares of the real estate investment trust's stock worth $104,431,000 after purchasing an additional 50,004 shares in the last quarter. Finally, HighTower Advisors LLC grew its position in Lamar Advertising by 4.3% in the first quarter. HighTower Advisors LLC now owns 674,089 shares of the real estate investment trust's stock worth $76,698,000 after buying an additional 27,823 shares during the last quarter. Institutional investors own 93.78% of the company's stock.

Wall Street Analyst Weigh In

LAMR has been the topic of several recent research reports. Morgan Stanley lifted 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. Citigroup raised shares of Lamar Advertising from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $114.00 to $135.00 in a research note on Thursday, May 29th. JPMorgan Chase & Co. reduced their price objective on shares of Lamar Advertising from $125.00 to $122.00 and set a "neutral" rating for the company in a research note on Monday, August 11th. Finally, Wells Fargo & Company cut their target price 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. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $134.20.

Lamar Advertising Price Performance

Lamar Advertising stock traded down $1.57 during trading hours on Friday, hitting $123.75. 999,957 shares of the stock were exchanged, compared to its average volume of 528,267. 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 stock has a market capitalization of $12.53 billion, a P/E ratio of 28.78 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. The business's 50-day moving average is $124.55 and its two-hundred day moving average is $119.24.

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

Lamar Advertising Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 19th will be given 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 yield of 5.0%. Lamar Advertising's dividend payout ratio (DPR) is 144.19%.

Insider Buying and Selling

In other Lamar Advertising news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the 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 at this link. 14.99% of the stock is currently owned by corporate insiders.

Lamar Advertising 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.