Lamar Advertising Company (NASDAQ:LAMR) Shares Bought by Centersquare Investment Management LLC

Key Points

• Centersquare Investment Management LLC increased its stake in Lamar Advertising by 8.8%, now owning 655,886 shares valued at approximately $74.6 million.
• Analysts have raised their price targets for Lamar Advertising, with Citigroup upgrading it to a "buy" rating and setting a new target of $135.00, while Morgan Stanley also increased their target to the same amount.
• The company announced a quarterly dividend of $1.55 per share, translating to an annualized dividend of $6.20, resulting in a yield of 4.9%.

Centersquare Investment Management LLC lifted its stake in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 8.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 655,886 shares of the real estate investment trust's stock after purchasing an additional 52,876 shares during the quarter. Centersquare Investment Management LLC owned about 0.64% of Lamar Advertising worth $74,627,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Bessemer Group Inc. raised its stake 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 in the last quarter. Golden State Wealth Management LLC acquired a new position in Lamar Advertising during the first quarter worth $28,000. Farther Finance Advisors LLC raised its position in Lamar Advertising by 101.2% in the first quarter. Farther Finance Advisors LLC now owns 2,446 shares of the real estate investment trust's stock worth $277,000 after acquiring an additional 1,230 shares in the last quarter. SG Americas Securities LLC purchased a new position in Lamar Advertising in the first quarter worth $1,007,000. Finally, Fifth Third Bancorp lifted its holdings in 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 valued at $635,000 after acquiring an additional 475 shares during the period. 93.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on LAMR shares. 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 note on Thursday, May 29th. Morgan Stanley boosted their price objective on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an "equal weight" rating in a report on Monday. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Lamar Advertising currently has an average rating of "Hold" and an average target price of $136.00.

Lamar Advertising Price Performance

LAMR traded down $9.25 during trading on Friday, reaching $115.50. 2,301,608 shares of the stock were exchanged, compared to its average volume of 436,382. The company has a debt-to-equity ratio of 2.89, a current ratio of 0.57 and a quick ratio of 0.57. The company has a market capitalization of $11.83 billion, a price-to-earnings ratio of 28.03 and a beta of 1.36. Lamar Advertising Company has a 1 year low of $99.84 and a 1 year high of $139.88. The business's 50 day moving average price is $122.60 and its two-hundred day moving average price is $119.51.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The real estate investment trust reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.06. Lamar Advertising had a return on equity of 37.62% and a net margin of 19.08%. The business had revenue of $505.43 million during the quarter, compared to the consensus estimate of $509.72 million. As a group, equities research analysts anticipate that Lamar Advertising Company will post 7.92 earnings per share for the current year.

Lamar Advertising Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were given a dividend of $1.55 per share. The ex-dividend date was Monday, June 16th. This represents a $6.20 dividend on an annualized basis and a yield of 5.4%. Lamar Advertising's payout ratio is presently 150.49%.

About Lamar Advertising

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.