Cohen & Steers Inc. Sells 383,696 Shares of Lamar Advertising Company $LAMR

Key Points

• Cohen & Steers Inc. reduced its Lamar Advertising stake by 14.1% in Q4, selling 383,696 shares and leaving it with about 2.31% ownership valued at roughly $295.9 million.
• Lamar Advertising reported strong quarterly earnings, posting $1.00 EPS versus the $0.82 consensus estimate and revenue of $528 million, both above analyst expectations.
• The company declared a quarterly dividend of $1.60 per share, implying a 4.1% annualized yield, while analysts currently rate the stock a consensus Moderate Buy with a $148 target price.

Cohen & Steers Inc. trimmed its position in Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 14.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,337,480 shares of the real estate investment trust's stock after selling 383,696 shares during the quarter. Cohen & Steers Inc. owned approximately 2.31% of Lamar Advertising worth $295,882,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of LAMR. Glenmede Investment Management LP grew its stake in Lamar Advertising by 3.2% in the 3rd quarter. Glenmede Investment Management LP now owns 2,590 shares of the real estate investment trust's stock valued at $317,000 after acquiring an additional 81 shares during the period. REAP Financial Group LLC grew its stake in Lamar Advertising by 13.5% in the 4th quarter. REAP Financial Group LLC now owns 706 shares of the real estate investment trust's stock valued at $89,000 after acquiring an additional 84 shares during the period. Greenleaf Trust grew its stake in Lamar Advertising by 1.6% in the 4th quarter. Greenleaf Trust now owns 5,540 shares of the real estate investment trust's stock valued at $701,000 after acquiring an additional 87 shares during the period. Northwestern Mutual Investment Management Company LLC grew its stake in Lamar Advertising by 0.5% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 19,435 shares of the real estate investment trust's stock valued at $2,460,000 after acquiring an additional 88 shares during the period. Finally, Alliance Wealth Advisors LLC grew its stake in Lamar Advertising by 2.8% in the 4th quarter. Alliance Wealth Advisors LLC now owns 3,510 shares of the real estate investment trust's stock valued at $444,000 after acquiring an additional 94 shares during the period. 93.78% of the stock is owned by institutional investors.

Lamar Advertising Trading Up 1.3%

Shares of LAMR stock opened at $154.35 on Friday. The stock's fifty day moving average is $143.09 and its two-hundred day moving average is $134.91. The company has a debt-to-equity ratio of 3.33, a quick ratio of 0.58 and a current ratio of 0.58. The firm has a market capitalization of $15.66 billion, a P/E ratio of 28.48 and a beta of 1.20. Lamar Advertising Company has a fifty-two week low of $113.66 and a fifty-two week high of $158.69.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported $1.00 EPS for the quarter, topping the consensus estimate of $0.82 by $0.18. Lamar Advertising had a return on equity of 55.53% and a net margin of 24.01%.The business had revenue of $528.00 million for the quarter, compared to analyst estimates of $522.86 million. Research analysts expect that Lamar Advertising Company will post 8.41 earnings per share for the current fiscal year.

Lamar Advertising Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Tuesday, June 16th. Lamar Advertising's payout ratio is currently 118.08%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on LAMR shares. Morgan Stanley set a $145.00 price objective on Lamar Advertising in a report on Thursday, May 7th. Weiss Ratings restated a "buy (b)" rating on shares of Lamar Advertising in a report on Friday, May 22nd. Wells Fargo & Company raised their price objective on Lamar Advertising from $136.00 to $150.00 and gave the company an "equal weight" rating in a report on Friday, May 8th. UBS Group set a $150.00 price objective on Lamar Advertising in a report on Monday, February 23rd. Finally, TD Cowen raised their price objective on Lamar Advertising from $150.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, May 14th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $148.00.

Insider Activity at Lamar Advertising

In related news, EVP Ross Lamar Reilly sold 5,969 shares of the firm's stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $128.65, for a total transaction of $767,911.85. Following the completion of the sale, the executive vice president directly owned 15,850 shares of the company's stock, valued at approximately $2,039,102.50. This trade represents a 27.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 15.24% of the stock is currently owned by corporate insiders.

About Lamar Advertising

Lamar Advertising Company NASDAQ: LAMR is one of North America's largest outdoor advertising firms, specializing in out-of-home media solutions. Since its founding in 1902, the company has grown through a combination of organic expansion and strategic acquisitions to offer a broad portfolio of advertising products. Its core business centers on billboard advertising, encompassing traditional static billboards and a rapidly expanding network of digital displays. These assets enable advertisers to reach consumers with high-impact messaging along highways, in urban centers, and at high-traffic intersections.

In addition to highway billboards, Lamar offers a variety of supplemental out-of-home formats, including transit advertising on buses and shelters, and logo signage at travel plazas and gas stations.

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