Gateway Investment Advisers LLC Has $4.76 Million Stake in Lamar Advertising Company $LAMR

Key Points

• Gateway Investment Advisers LLC increased its holdings in Lamar Advertising Company by 118.4%, acquiring an additional 21,253 shares, bringing its total to 39,206 shares valued at approximately $4.76 million.
• Lamar Advertising announced a quarterly dividend of $1.55, which translates to a 4.9% yield, with a payout ratio of 144.19%.
• Analyst ratings for Lamar Advertising are mixed, with two analysts rating it as a Buy and three as a Hold, while the average price target stands at $134.20.

Gateway Investment Advisers LLC raised its position in Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 118.4% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 39,206 shares of the real estate investment trust's stock after acquiring an additional 21,253 shares during the period. Gateway Investment Advisers LLC's holdings in Lamar Advertising were worth $4,758,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of LAMR. MassMutual Private Wealth & Trust FSB grew its stake in Lamar Advertising by 55.5% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 356 shares of the real estate investment trust's stock worth $43,000 after purchasing an additional 127 shares during the period. Gallacher Capital Management LLC purchased a new stake in shares of Lamar Advertising in the 2nd quarter worth approximately $746,000. Parallel Advisors LLC lifted its holdings in shares of Lamar Advertising by 27.6% during the 2nd quarter. Parallel Advisors LLC now owns 1,068 shares of the real estate investment trust's stock valued at $130,000 after buying an additional 231 shares during the period. Kera Capital Partners Inc. purchased a new position in Lamar Advertising in the second quarter worth about $354,000. Finally, Pensionfund DSM Netherlands increased its position in shares of Lamar Advertising by 6.9% during the second quarter. Pensionfund DSM Netherlands now owns 15,500 shares of the real estate investment trust's stock worth $1,881,000 after purchasing an additional 1,000 shares in the last quarter. 93.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LAMR has been the subject of several recent research reports. Citigroup raised shares of Lamar Advertising from a "neutral" rating to a "buy" rating and raised their price target for the company from $114.00 to $135.00 in a research report on Thursday, May 29th. JPMorgan Chase & Co. dropped their target price on shares of Lamar Advertising from $125.00 to $122.00 and set a "neutral" rating on the stock in a report on Monday, August 11th. Morgan Stanley raised their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Monday, August 4th. Finally, Wells Fargo & Company lowered their price target on shares of 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 investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $134.20.

Insider Activity

In related news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the company's stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 14.99% of the company's stock.

Lamar Advertising Trading Down 1.3%

Shares of NASDAQ LAMR traded down $1.57 during trading hours on Friday, hitting $123.75. 999,957 shares of the company traded hands, compared to its average volume of 528,267. Lamar Advertising Company has a 12 month low of $99.84 and a 12 month high of $139.88. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 3.45. The company's 50 day moving average price is $124.55 and its 200 day moving average price is $119.21. The stock has a market capitalization of $12.53 billion, a price-to-earnings ratio of 28.78 and a beta of 1.38.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its quarterly earnings results on Friday, August 8th. The real estate investment trust reported $2.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.48 by $0.74. The company had revenue of $579.31 million during the quarter, compared to analyst estimates of $580.72 million. Lamar Advertising had a net margin of 19.72% and a return on equity of 41.85%. Lamar Advertising has set its FY 2025 guidance at 6.090-6.11 EPS. On average, equities research analysts anticipate that Lamar Advertising Company will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 19th will be paid a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, September 19th. This represents a $6.20 annualized dividend and a yield of 5.0%. Lamar Advertising's dividend payout ratio is currently 144.19%.

Lamar Advertising 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.