Hsbc Holdings PLC Decreases Stake in Lamar Advertising Company $LAMR

Key Points

• HSBC Holdings PLC reduced its stake in Lamar Advertising by 70.6% in the fourth quarter, selling 22,664 shares and leaving it with 9,425 shares worth about $1.19 million.
• Lamar Advertising reported strong quarterly results, with earnings of $1.00 per share versus expectations of $0.82 and revenue of $528 million, slightly above estimates.
• The company paid a quarterly dividend of $1.60 per share, equal to an annualized yield of about 4.1%, while analysts currently rate the stock a consensus Hold with a $150.50 price target.

Hsbc Holdings PLC cut its holdings in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 70.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,425 shares of the real estate investment trust's stock after selling 22,664 shares during the period. Hsbc Holdings PLC's holdings in Lamar Advertising were worth $1,190,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Boston Partners boosted its holdings in Lamar Advertising by 2.0% in the third quarter. Boston Partners now owns 2,384,715 shares of the real estate investment trust's stock valued at $291,928,000 after purchasing an additional 46,361 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Lamar Advertising by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 2,382,137 shares of the real estate investment trust's stock valued at $301,573,000 after purchasing an additional 32,542 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Lamar Advertising by 3.3% during the 4th quarter. Wellington Management Group LLP now owns 2,027,080 shares of the real estate investment trust's stock valued at $256,588,000 after buying an additional 64,824 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Lamar Advertising by 23.9% during the 3rd quarter. Northern Trust Corp now owns 1,629,554 shares of the real estate investment trust's stock valued at $199,490,000 after buying an additional 314,235 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Lamar Advertising by 7.6% during the third quarter. AQR Capital Management LLC now owns 1,587,887 shares of the real estate investment trust's stock worth $193,166,000 after buying an additional 112,362 shares in the last quarter. 93.78% of the stock is owned by hedge funds and other institutional investors.

Lamar Advertising Price Performance

LAMR stock opened at $155.18 on Monday. 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 $162.96. The firm has a fifty day moving average price of $151.93 and a two-hundred day moving average price of $138.39. The firm has a market cap of $15.75 billion, a price-to-earnings ratio of 28.63 and a beta of 1.19.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last issued its earnings results on Thursday, May 7th. The real estate investment trust reported $1.00 earnings per share for the quarter, topping analysts' consensus estimates of $0.82 by $0.18. Lamar Advertising had a net margin of 24.01% and a return on equity of 55.53%. The company had revenue of $528.00 million for the quarter, compared to analysts' expectations of $522.86 million. Research analysts predict that Lamar Advertising Company will post 8.41 EPS for the current year.

Lamar Advertising Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were issued a $1.60 dividend. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $6.40 dividend on an annualized basis and a yield of 4.1%. Lamar Advertising's dividend payout ratio (DPR) is currently 118.08%.

Analysts Set New Price Targets

Several research analysts have weighed in on LAMR shares. Weiss Ratings reissued a "buy (b)" rating on shares of Lamar Advertising in a report on Friday, May 22nd. Wells Fargo & Company upped their target price on shares of Lamar Advertising from $136.00 to $150.00 and gave the company an "equal weight" rating in a research note on Friday, May 8th. Citigroup cut shares of Lamar Advertising from a "buy" rating to a "neutral" rating and increased their price target for the stock from $145.00 to $160.00 in a research report on Friday. Morgan Stanley set a $145.00 price objective on Lamar Advertising in a report on Thursday, May 7th. Finally, TD Cowen upped their price objective on Lamar Advertising from $150.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, May 14th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Lamar Advertising has an average rating of "Hold" and a consensus price target of $150.50.

Lamar Advertising 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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