First Trust Advisors LP Acquires 31,430 Shares of Lamar Advertising Company $LAMR

Key Points

• First Trust Advisors LP more than doubled its Lamar Advertising stake by acquiring 31,430 additional shares in the first quarter, bringing its holdings to 57,909 shares valued at approximately $7.34 million. Institutional investors own 93.78% of the company.
• Lamar Advertising exceeded quarterly expectations, reporting $1.00 in earnings per share versus the $0.82 consensus estimate and revenue of $528 million, above forecasts of $522.86 million.
• The company pays a quarterly dividend of $1.60 per share, or $6.40 annually, yielding about 4.0%. Analysts maintain a consensus “Hold” rating with an average price target of $154.67, below the reported share price of $159.96.

First Trust Advisors LP grew its holdings in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 118.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 57,909 shares of the real estate investment trust's stock after acquiring an additional 31,430 shares during the quarter. First Trust Advisors LP owned 0.06% of Lamar Advertising worth $7,335,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in LAMR. Sivia Capital Partners LLC purchased a new position in Lamar Advertising in the 2nd quarter worth $510,000. Arrowstreet Capital Limited Partnership lifted its stake in Lamar Advertising by 250.0% in the second quarter. Arrowstreet Capital Limited Partnership now owns 47,604 shares of the real estate investment trust's stock worth $5,777,000 after purchasing an additional 34,002 shares during the last quarter. Amundi boosted its position in Lamar Advertising by 224.6% during the second quarter. Amundi now owns 2,048 shares of the real estate investment trust's stock valued at $255,000 after buying an additional 1,417 shares during the period. Gamco Investors INC. ET AL bought a new position in shares of Lamar Advertising during the second quarter valued at about $873,000. Finally, Cerity Partners LLC increased its holdings in shares of Lamar Advertising by 39.0% in the second quarter. Cerity Partners LLC now owns 37,166 shares of the real estate investment trust's stock worth $4,510,000 after buying an additional 10,423 shares during the period. 93.78% of the stock is currently owned by institutional investors.

Lamar Advertising Price Performance

LAMR stock opened at $159.96 on Friday. The company has a debt-to-equity ratio of 3.33, a current ratio of 0.58 and a quick ratio of 0.58. Lamar Advertising Company has a 1 year low of $113.66 and a 1 year high of $166.33. The firm has a 50-day moving average of $155.62 and a 200 day moving average of $141.84. The company has a market cap of $16.23 billion, a P/E ratio of 29.51 and a beta of 1.19.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported $1.00 earnings per share for the quarter, beating 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 analysts' expectations of $522.86 million. On average, sell-side analysts forecast that Lamar Advertising Company will post 8.41 EPS for the current year.

Lamar Advertising Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were given a dividend of $1.60 per share. The ex-dividend date was Tuesday, June 16th. This represents a $6.40 annualized dividend and a dividend yield of 4.0%. Lamar Advertising's payout ratio is currently 118.08%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LAMR. Citigroup lowered Lamar Advertising from a "buy" rating to a "neutral" rating and raised their price target for the stock from $145.00 to $160.00 in a research report on Friday, July 10th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $153.00 target price on shares of Lamar Advertising in a report on Wednesday, July 22nd. Morgan Stanley set a $145.00 price target on shares of Lamar Advertising in a report on Thursday, May 7th. TD Cowen boosted their price target on Lamar Advertising from $150.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, May 14th. Finally, Wells Fargo & Company raised their price target on Lamar Advertising from $136.00 to $150.00 and gave the stock an "equal weight" rating in a research note on Friday, May 8th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Lamar Advertising presently has a consensus rating of "Hold" and an average price target of $154.67.

Lamar Advertising Company 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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