Lamar Advertising Company $LAMR Holdings Trimmed by Wedge Capital Management L L P NC

Key Points

• Wedge Capital Management L L P NC reduced its stake in Lamar Advertising Company by 22.0%, selling 2,094 shares during the 2nd quarter, leaving them with 7,414 shares worth approximately $900,000.
• Lamar Advertising recently reported a quarterly earnings per share of $2.22, exceeding analysts' expectations by $0.74, while also setting its FY 2025 guidance at 6.090-6.11 EPS.
• The company announced a quarterly dividend of $1.55 per share, which represents an annualized dividend yield of 5.0%, with a payout ratio currently at 144.19%.

Wedge Capital Management L L P NC trimmed its position in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 22.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,414 shares of the real estate investment trust's stock after selling 2,094 shares during the period. Wedge Capital Management L L P NC's holdings in Lamar Advertising were worth $900,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LAMR. 1248 Management LLC purchased a new position in Lamar Advertising during the 1st quarter worth approximately $26,000. Golden State Wealth Management LLC purchased a new position in Lamar Advertising during the 1st quarter worth approximately $28,000. HHM Wealth Advisors LLC grew its position in Lamar Advertising by 26,900.0% during the 1st 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 in the last quarter. ST Germain D J Co. Inc. grew its position in Lamar Advertising by 346.0% during the 1st quarter. ST Germain D J Co. Inc. now owns 281 shares of the real estate investment trust's stock worth $32,000 after purchasing an additional 218 shares in the last quarter. Finally, Truvestments Capital LLC grew its position in Lamar Advertising by 79.5% during the 1st quarter. Truvestments Capital LLC now owns 316 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 140 shares in the last quarter. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on LAMR shares. Morgan Stanley boosted their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an "equal weight" rating in a report on Monday, August 4th. Wells Fargo & Company lowered their price target on shares of Lamar Advertising from $122.00 to $119.00 and set an "equal weight" rating on the stock in a report on Monday, August 11th. Citigroup upgraded shares of Lamar Advertising from a "neutral" rating to a "buy" rating and boosted their price target for the company from $114.00 to $135.00 in a report on Thursday, May 29th. Finally, JPMorgan Chase & Co. lowered their price target 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. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $134.20.

Lamar Advertising Stock Up 0.4%

Lamar Advertising stock opened at $124.23 on Tuesday. The firm has a market cap of $12.57 billion, a price-to-earnings ratio of 28.89 and a beta of 1.38. The company has a debt-to-equity ratio of 3.45, a current ratio of 0.58 and a quick ratio of 0.58. Lamar Advertising Company has a fifty-two week low of $99.84 and a fifty-two week high of $139.88. The firm has a fifty day moving average price of $124.52 and a two-hundred day moving average price of $119.17.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last released its earnings results on Friday, August 8th. The real estate investment trust reported $2.22 earnings per share 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 net margin of 19.72% and a return on equity of 41.85%. Lamar Advertising has set its FY 2025 guidance at 6.090-6.11 EPS. As a group, analysts forecast that Lamar Advertising Company will post 7.92 earnings per share for the current year.

Lamar Advertising Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 19th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, September 19th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.0%. Lamar Advertising's dividend payout ratio is currently 144.19%.

Insider Activity at Lamar Advertising

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

Lamar Advertising 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.

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