ExodusPoint Capital Management LP Makes New Investment in Lamar Advertising Company $LAMR

Key Points

• ExodusPoint Capital Management opened a new position in Lamar Advertising during the fourth quarter, buying 122,434 shares worth about $15.5 million.
• Institutional interest in Lamar remains strong, with several large funds increasing their stakes and institutional investors now owning 93.78% of the company.
• Lamar reported better-than-expected quarterly earnings and raised investor appeal with a $1.60 quarterly dividend ($6.40 annualized), though the payout ratio is high at 118.08%.

ExodusPoint Capital Management LP purchased a new position in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 122,434 shares of the real estate investment trust's stock, valued at approximately $15,498,000. ExodusPoint Capital Management LP owned about 0.12% of Lamar Advertising as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Boston Partners raised its holdings in Lamar Advertising by 2.0% during the 3rd quarter. Boston Partners now owns 2,384,715 shares of the real estate investment trust's stock worth $291,928,000 after purchasing an additional 46,361 shares during the last quarter. Geode Capital Management LLC raised its holdings in Lamar Advertising by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 2,382,137 shares of the real estate investment trust's stock worth $301,573,000 after purchasing an additional 32,542 shares during the last quarter. Northern Trust Corp raised its holdings in Lamar Advertising by 23.9% during the 3rd quarter. Northern Trust Corp now owns 1,629,554 shares of the real estate investment trust's stock worth $199,490,000 after purchasing an additional 314,235 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Lamar Advertising by 7.6% in the 3rd quarter. AQR Capital Management LLC now owns 1,587,887 shares of the real estate investment trust's stock valued at $193,166,000 after acquiring an additional 112,362 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of Lamar Advertising by 13.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 1,478,299 shares of the real estate investment trust's stock valued at $180,973,000 after acquiring an additional 178,880 shares during the period. Institutional investors own 93.78% of the company's stock.

Insider Activity

In other news, EVP Ross Lamar Reilly sold 5,969 shares of the company's stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $128.65, for a total value of $767,911.85. Following the completion of the sale, the executive vice president owned 15,850 shares in the company, valued at $2,039,102.50. This represents a 27.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 15.24% of the stock is currently owned by insiders.

Lamar Advertising Stock Performance

LAMR opened at $150.99 on Wednesday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 3.33. The company's fifty day moving average price is $144.09 and its two-hundred day moving average price is $135.21. Lamar Advertising Company has a 1-year low of $113.66 and a 1-year high of $158.69. The company has a market cap of $15.32 billion, a price-to-earnings ratio of 27.86 and a beta of 1.20.

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

Lamar Advertising Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be paid a $1.60 dividend. The ex-dividend date is Tuesday, June 16th. This represents a $6.40 annualized dividend and a dividend yield of 4.2%. Lamar Advertising's dividend payout ratio is presently 118.08%.

Wall Street Analysts Forecast Growth

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

Lamar Advertising Profile

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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