Headlands Technologies LLC Reduces Position in Lamar Advertising Company (NASDAQ:LAMR)

Key Points

• Headlands Technologies LLC has reduced its holdings in Lamar Advertising Company by 50.9%, now owning 2,488 shares valued at approximately $283,000.
• Lamar Advertising's stock has seen a 7.4% decline, with the current share price opening at $115.50 and a market cap of $11.83 billion.
• The company reported an EPS of $2.22 for the quarter, exceeding expectations, alongside an annualized dividend yield of 5.4%, with a payout ratio of 150.49%.

Headlands Technologies LLC trimmed its holdings in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 50.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,488 shares of the real estate investment trust's stock after selling 2,579 shares during the quarter. Headlands Technologies LLC's holdings in Lamar Advertising were worth $283,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Cohen & Steers Inc. increased its position in shares of Lamar Advertising by 453.6% during the fourth quarter. Cohen & Steers Inc. now owns 2,660,664 shares of the real estate investment trust's stock worth $323,900,000 after acquiring an additional 2,180,011 shares during the last quarter. Northern Trust Corp increased its holdings in Lamar Advertising by 50.5% in the fourth quarter. Northern Trust Corp now owns 1,278,397 shares of the real estate investment trust's stock valued at $155,632,000 after buying an additional 428,744 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Lamar Advertising by 0.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,109,668 shares of the real estate investment trust's stock valued at $126,258,000 after buying an additional 7,426 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Lamar Advertising by 5.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 917,833 shares of the real estate investment trust's stock valued at $104,431,000 after buying an additional 50,004 shares during the last quarter. Finally, Centersquare Investment Management LLC increased its holdings in Lamar Advertising by 8.8% in the first quarter. Centersquare Investment Management LLC now owns 655,886 shares of the real estate investment trust's stock valued at $74,627,000 after buying an additional 52,876 shares during the last quarter. 93.78% of the stock is owned by hedge funds and other institutional investors.

Lamar Advertising Stock Down 7.4%

NASDAQ:LAMR opened at $115.50 on Friday. The firm has a market capitalization of $11.83 billion, a PE ratio of 26.86 and a beta of 1.36. The stock has a 50 day moving average of $122.60 and a 200-day moving average of $119.47. Lamar Advertising Company has a 52 week low of $99.84 and a 52 week high of $139.88. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 2.89.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its earnings results on Friday, August 8th. The real estate investment trust reported $2.22 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 37.62% and a net margin of 19.08%. Analysts predict that Lamar Advertising Company will post 7.92 EPS for the current year.

Lamar Advertising Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a dividend of $1.55 per share. The ex-dividend date was Monday, June 16th. This represents a $6.20 annualized dividend and a dividend yield of 5.4%. Lamar Advertising's payout ratio is currently 150.49%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Morgan Stanley boosted their price objective on Lamar Advertising from $125.00 to $135.00 and gave the company an "equal weight" rating in a report on Monday, August 4th. Citigroup raised Lamar Advertising from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $114.00 to $135.00 in a report on Thursday, May 29th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $136.00.

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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