Ieq Capital LLC Acquires 26,339 Shares of Lamar Advertising Company $LAMR

Key Points

• Ieq Capital LLC significantly increased its stake in Lamar Advertising Company by 1,269.3%, owning 28,414 shares worth approximately $3.23 million as of the end of the last quarter.
• Lamar Advertising reported earnings per share of $2.22 for the last quarter, significantly exceeding the consensus estimate of $1.48, while revenues came in at $579.31 million, slightly below expectations.
• The company declared a quarterly dividend of $1.55, which translates to a 4.9% dividend yield, with a payout ratio of 144.19% currently.

Ieq Capital LLC boosted its position in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 1,269.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 28,414 shares of the real estate investment trust's stock after purchasing an additional 26,339 shares during the period. Ieq Capital LLC's holdings in Lamar Advertising were worth $3,233,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in LAMR. Golden State Wealth Management LLC purchased a new stake in shares of Lamar Advertising during the first quarter worth $28,000. HHM Wealth Advisors LLC increased its stake in shares of 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 purchasing an additional 269 shares during the period. ST Germain D J Co. Inc. increased its position in Lamar Advertising by 346.0% during the first quarter. ST Germain D J Co. Inc. now owns 281 shares of the real estate investment trust's stock worth $32,000 after acquiring an additional 218 shares during the period. Bessemer Group Inc. raised its position in shares of Lamar Advertising by 33.9% during the first quarter. Bessemer Group Inc. now owns 371 shares of the real estate investment trust's stock valued at $42,000 after buying an additional 94 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of Lamar Advertising by 172.7% during the first quarter. Smartleaf Asset Management LLC now owns 390 shares of the real estate investment trust's stock valued at $44,000 after purchasing an additional 247 shares during the period. Institutional investors and hedge funds own 93.78% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LAMR. 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 report on Monday, August 4th. Citigroup upgraded shares of Lamar Advertising from a "neutral" rating to a "buy" rating and increased their target price for the stock from $114.00 to $135.00 in a 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. Finally, Wells Fargo & Company cut their price target on Lamar Advertising from $122.00 to $119.00 and set an "equal weight" rating on the stock in a 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. According to MarketBeat, Lamar Advertising presently has an average rating of "Hold" and an average target price of $134.20.

Lamar Advertising Stock Performance

LAMR traded up $0.61 during midday trading on Thursday, reaching $126.89. The company had a trading volume of 172,961 shares, compared to its average volume of 624,000. The business has a 50-day moving average price of $123.66 and a two-hundred day moving average price of $119.09. Lamar Advertising Company has a 12-month low of $99.84 and a 12-month high of $139.88. The stock has a market cap of $12.84 billion, a PE ratio of 29.51 and a beta of 1.38. 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 results on Friday, August 8th. The real estate investment trust reported $2.22 EPS for the quarter, topping analysts' consensus estimates of $1.48 by $0.74. The firm 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, sell-side analysts expect that Lamar Advertising Company will post 7.92 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, September 30th. Shareholders of record on Friday, September 19th will be issued a $1.55 dividend. The ex-dividend date is Friday, September 19th. This represents a $6.20 dividend on an annualized basis and a yield of 4.9%. Lamar Advertising's dividend payout ratio is 144.19%.

Insider Transactions at Lamar Advertising

In other Lamar Advertising news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the stock in a transaction 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 14.99% of the company's stock.

Lamar Advertising Company 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.