Beacon Financial Group Reduces Stake in 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 reduced its position in Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 5.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Hamlin Capital Management LLC increased its stake in Lamar Advertising by 3.4% in the 1st quarter. Hamlin Capital Management LLC now owns 1,311,526 shares of the real estate investment trust's stock valued at $149,225,000 after purchasing an additional 43,081 shares in the last quarter. Northern Trust Corp increased its position 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 buying an additional 4,495 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position 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 buying an additional 7,426 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position 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 buying an additional 50,004 shares in the last quarter. Finally, HighTower Advisors LLC increased its position in Lamar Advertising by 4.3% during 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 in the last quarter. 93.78% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Jay Lecoryelle Johnson sold 22,000 shares of Lamar Advertising stock in a transaction on Friday, August 22nd. The stock was 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. Insiders own 14.99% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on LAMR. JPMorgan Chase & Co. dropped their price target on Lamar Advertising from $125.00 to $122.00 and set a "neutral" rating for the company in a research report on Monday, August 11th. Morgan Stanley raised their price target on 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 Lamar Advertising from a "neutral" rating to a "buy" rating and raised their price target for the stock from $114.00 to $135.00 in a research report on Thursday, May 29th. Finally, Wells Fargo & Company dropped their price target on 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 equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $134.20.

Lamar Advertising Price Performance

LAMR stock opened at $127.74 on Tuesday. Lamar Advertising Company has a 52-week low of $99.84 and a 52-week high of $139.88. The stock's fifty day simple moving average is $124.49 and its 200-day simple moving average is $119.12. 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 stock has a market capitalization of $12.93 billion, a price-to-earnings ratio of 29.71 and a beta of 1.38.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last issued its earnings results 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. Lamar Advertising had a return on equity of 41.85% and a net margin of 19.72%.The firm had revenue of $579.31 million for the quarter, compared to analysts' expectations 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 year.

Lamar Advertising Dividend Announcement

The company also recently announced 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 (DPR) is presently 144.19%.

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.

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