Hamlin Capital Management LLC Grows Stock Position in Lamar Advertising Company $LAMR

Key Points

• Hamlin Capital Management LLC increased its stake in Lamar Advertising Company by 2.1% during the second quarter, acquiring an additional 26,893 shares and now holding about 1.31% of the company's stock valued at $162.4 million.
• Lamar Advertising has received varied analyst ratings, with a consensus rating of "Moderate Buy" and a price target ranging from $119.00 to $135.00 based on recent reports from firms including Wells Fargo and Morgan Stanley.
• The company reported earnings of $2.22 per share for the most recent quarter, exceeding estimates, and announced a quarterly dividend of $1.55 per share, indicating a 5.2% yield.

Hamlin Capital Management LLC boosted its position in Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 2.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,338,419 shares of the real estate investment trust's stock after buying an additional 26,893 shares during the quarter. Lamar Advertising makes up about 3.8% of Hamlin Capital Management LLC's holdings, making the stock its 14th largest position. Hamlin Capital Management LLC owned about 1.31% of Lamar Advertising worth $162,431,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. 1248 Management LLC purchased a new stake in Lamar Advertising in the first quarter worth $26,000. Ameritas Advisory Services LLC purchased a new stake in Lamar Advertising in the second quarter worth $28,000. Golden State Wealth Management LLC purchased a new stake in Lamar Advertising in the first quarter worth $28,000. HHM Wealth Advisors LLC increased its position in Lamar Advertising by 26,900.0% in the first quarter. HHM Wealth Advisors LLC now owns 270 shares of the real estate investment trust's stock worth $31,000 after buying an additional 269 shares during the last quarter. Finally, Truvestments Capital LLC grew its position in shares of Lamar Advertising by 79.5% in the first quarter. Truvestments Capital LLC now owns 316 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 140 shares in the last quarter. 93.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LAMR has been the subject of several recent research reports. Weiss Ratings reiterated a "buy (b-)" rating on shares of Lamar Advertising in a research report on Wednesday, October 8th. Wells Fargo & Company reduced their price target on 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. JPMorgan Chase & Co. reduced their price target on Lamar Advertising from $125.00 to $122.00 and set a "neutral" rating for the company in a research report on Monday, August 11th. Finally, Morgan Stanley lifted their price target on Lamar Advertising from $125.00 to $135.00 and gave the company an "equal weight" rating in a research report on Monday, August 4th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $134.20.

Insider Transactions at Lamar Advertising

In related news, CFO Jay Lecoryelle Johnson sold 22,000 shares of Lamar Advertising stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $124.28, for a total transaction of $2,734,160.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 14.99% of the company's stock.

Lamar Advertising Price Performance

NASDAQ:LAMR opened at $119.02 on Friday. The firm has a market capitalization of $12.05 billion, a price-to-earnings ratio of 27.68 and a beta of 1.37. Lamar Advertising Company has a 52-week low of $99.84 and a 52-week high of $137.47. The stock has a fifty day moving average of $123.39 and a 200 day moving average of $120.04. The company has a debt-to-equity ratio of 3.45, a quick ratio of 0.58 and a current ratio of 0.58.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its quarterly earnings data on Friday, August 8th. The real estate investment trust reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 41.85% and a net margin of 19.72%. Lamar Advertising has set its FY 2025 guidance at 6.090-6.11 EPS. On average, research analysts expect that Lamar Advertising Company will post 7.92 EPS for the current fiscal year.

Lamar Advertising Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, September 19th were paid a dividend of $1.55 per share. The ex-dividend date of this dividend was Friday, September 19th. This represents a $6.20 annualized dividend and a yield of 5.2%. Lamar Advertising's dividend payout ratio (DPR) is currently 144.19%.

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.

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