HighTower Advisors LLC Has $97.72 Million Position in Lamar Advertising Company $LAMR

Key Points

• HighTower Advisors LLC increased its stake in Lamar Advertising by 3.8% in the fourth quarter, ending with 771,959 shares valued at about $97.7 million.
• Lamar Advertising reported better-than-expected quarterly results, posting EPS of $1.00 versus estimates of $0.82 and revenue of $528 million, while analysts now see full-year EPS of 8.24.
• The company also announced a quarterly dividend of $1.60 per share, equal to an annualized yield of about 4.3%, though the payout ratio is high at 118.08%.

HighTower Advisors LLC grew its holdings in Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 3.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 771,959 shares of the real estate investment trust's stock after purchasing an additional 27,907 shares during the quarter. HighTower Advisors LLC owned about 0.76% of Lamar Advertising worth $97,715,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Assetmark Inc. lifted its stake in shares of Lamar Advertising by 31.3% during the third quarter. Assetmark Inc. now owns 102,270 shares of the real estate investment trust's stock valued at $12,520,000 after acquiring an additional 24,391 shares during the period. SG Americas Securities LLC lifted its stake in shares of Lamar Advertising by 323.6% during the fourth quarter. SG Americas Securities LLC now owns 75,297 shares of the real estate investment trust's stock valued at $9,531,000 after acquiring an additional 57,520 shares during the period. Berkshire Hathaway Inc lifted its stake in shares of Lamar Advertising by 2.8% during the third quarter. Berkshire Hathaway Inc now owns 1,202,110 shares of the real estate investment trust's stock valued at $147,162,000 after acquiring an additional 32,603 shares during the period. Markel Group Inc. lifted its stake in shares of Lamar Advertising by 7.6% during the third quarter. Markel Group Inc. now owns 170,000 shares of the real estate investment trust's stock valued at $20,811,000 after acquiring an additional 12,000 shares during the period. Finally, Tudor Investment Corp ET AL acquired a new position in shares of Lamar Advertising during the third quarter valued at $22,262,000. Institutional investors and hedge funds own 93.78% of the company's stock.

Lamar Advertising Trading Up 1.3%

NASDAQ LAMR opened at $149.41 on Wednesday. The firm has a market cap of $15.16 billion, a P/E ratio of 27.57 and a beta of 1.18. The company has a debt-to-equity ratio of 3.33, a current ratio of 0.58 and a quick ratio of 0.58. The stock's 50-day moving average is $135.10 and its 200-day moving average is $131.54. Lamar Advertising Company has a one year low of $113.05 and a one year high of $158.69.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported $1.00 EPS for the quarter, topping analysts' consensus estimates of $0.82 by $0.18. The company had revenue of $528.00 million for the quarter, compared to analyst estimates of $522.86 million. Lamar Advertising had a return on equity of 55.53% and a net margin of 24.01%. Sell-side analysts anticipate that Lamar Advertising Company will post 8.24 earnings per share for the current fiscal year.

Lamar Advertising Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be issued a dividend of $1.60 per share. The ex-dividend date is Tuesday, June 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 4.3%. Lamar Advertising's dividend payout ratio (DPR) is presently 118.08%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Morgan Stanley set a $145.00 price target on Lamar Advertising in a research note on Thursday, May 7th. TD Cowen upped their price target on Lamar Advertising from $150.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, May 14th. UBS Group set a $150.00 price target on Lamar Advertising in a research note on Monday, February 23rd. Wells Fargo & Company upped their price target on Lamar Advertising from $136.00 to $150.00 and gave the company an "equal weight" rating in a research note on Friday, May 8th. Finally, Weiss Ratings raised Lamar Advertising from a "hold (c+)" rating to a "buy (b)" rating in a research note on Monday, February 23rd. Three equities research 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 an average rating of "Moderate Buy" and a consensus target price of $148.00.

Insider Activity

In related news, EVP Ross Lamar Reilly sold 5,969 shares of the stock in a transaction dated Monday, March 23rd. The stock was sold at an average price of $128.65, for a total transaction of $767,911.85. Following the completion of the transaction, the executive vice president directly owned 15,850 shares in the company, valued at approximately $2,039,102.50. This trade represents a 27.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 15.24% of the company's stock.

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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