Beacon Financial Group Sells 2,720 Shares of Lamar Advertising Company $LAMR

Key Points

• Beacon Financial Group reduced its stake in Lamar Advertising Company by 5.1%, holding 50,345 shares valued at approximately $6.11 million after selling 2,720 shares in the second quarter.
• Lamar Advertising reported $2.22 earnings per share for the last quarter, exceeding analysts' expectations of $1.48, with revenue slightly below projections at $579.31 million.
• The company announced a quarterly dividend of $1.55, which will be paid on September 30th, representing an annualized dividend yield of 4.9% and a payout ratio of 144.19%.

Beacon Financial Group lessened its stake in Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 5.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,345 shares of the real estate investment trust's stock after selling 2,720 shares during the period. Beacon Financial Group's holdings in Lamar Advertising were worth $6,110,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. 1248 Management LLC bought a new stake in Lamar Advertising in the 1st quarter worth approximately $26,000. Golden State Wealth Management LLC purchased a new position in shares of Lamar Advertising during the 1st quarter worth $28,000. HHM Wealth Advisors LLC boosted its stake in shares of Lamar Advertising by 26,900.0% during the 1st quarter. HHM Wealth Advisors LLC now owns 270 shares of the real estate investment trust's stock worth $31,000 after acquiring an additional 269 shares during the last quarter. ST Germain D J Co. Inc. boosted its stake in shares of Lamar Advertising by 346.0% during the 1st quarter. ST Germain D J Co. Inc. now owns 281 shares of the real estate investment trust's stock worth $32,000 after acquiring an additional 218 shares during the last quarter. Finally, Truvestments Capital LLC boosted its stake in shares of Lamar Advertising by 79.5% during the 1st quarter. Truvestments Capital LLC now owns 316 shares of the real estate investment trust's stock worth $36,000 after acquiring an additional 140 shares during the last quarter. Institutional investors own 93.78% of the company's stock.

Insider Buying and Selling at Lamar Advertising

In other news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the business'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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. 14.99% of the stock is currently owned by company insiders.

Lamar Advertising Price Performance

LAMR stock traded down $1.57 during mid-day trading on Friday, hitting $123.75. The company had a trading volume of 999,957 shares, compared to its average volume of 528,267. The company has a market capitalization of $12.53 billion, a price-to-earnings 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 company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 3.45. The company has a 50-day moving average price of $124.55 and a 200 day moving average price of $119.24.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its quarterly earnings results on Friday, August 8th. The real estate investment trust reported $2.22 EPS for the quarter, topping the consensus estimate of $1.48 by $0.74. The business had revenue of $579.31 million for 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 anticipate that Lamar Advertising Company will post 7.92 earnings per share for the current year.

Lamar Advertising Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders 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 yield of 5.0%. Lamar Advertising's payout ratio is presently 144.19%.

Wall Street Analysts Forecast Growth

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

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.