Lamar Advertising Company $LAMR Shares Sold by Easterly Investment Partners LLC

Key Points

• Easterly Investment Partners sharply reduced its Lamar Advertising stake by 98.6% in the fourth quarter, selling 129,468 shares and leaving it with 1,880 shares worth about $238,000.
• Lamar Advertising reported strong quarterly results, posting EPS of $1.00 versus the $0.82 estimate and revenue of $528 million, both ahead of expectations.
• The company declared a quarterly dividend of $1.60 per share, payable June 30, which annualizes to $6.40 per share for a 4.3% yield.

Easterly Investment Partners LLC lessened its stake in Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 98.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,880 shares of the real estate investment trust's stock after selling 129,468 shares during the period. Easterly Investment Partners LLC's holdings in Lamar Advertising were worth $238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Tucker Asset Management LLC acquired a new position in Lamar Advertising in the fourth quarter valued at $25,000. Sound Income Strategies LLC boosted its stake in Lamar Advertising by 151.0% in the fourth quarter. Sound Income Strategies LLC now owns 251 shares of the real estate investment trust's stock valued at $33,000 after acquiring an additional 151 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Lamar Advertising in the third quarter valued at $33,000. Beacon Financial Strategies CORP acquired a new position in Lamar Advertising in the fourth quarter valued at $35,000. Finally, Larson Financial Group LLC boosted its stake in Lamar Advertising by 48.1% in the fourth quarter. Larson Financial Group LLC now owns 317 shares of the real estate investment trust's stock valued at $40,000 after acquiring an additional 103 shares in the last quarter. Institutional investors and hedge funds own 93.78% of the company's stock.

Insider Transactions at Lamar Advertising

In other Lamar Advertising news, EVP Ross Lamar Reilly sold 5,969 shares of the stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $128.65, for a total value of $767,911.85. Following the completion of the transaction, the executive vice president directly owned 15,850 shares of the company's stock, valued at approximately $2,039,102.50. This trade represents a 27.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 15.24% of the company's stock.

Lamar Advertising Price Performance

Shares of NASDAQ:LAMR opened at $150.47 on Tuesday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 3.33. The company has a market cap of $15.27 billion, a P/E ratio of 27.76 and a beta of 1.20. Lamar Advertising Company has a 52 week low of $113.66 and a 52 week high of $158.69. The company has a 50-day moving average price of $138.53 and a 200 day moving average price of $133.51.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported $1.00 EPS for the quarter, beating 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 firm had revenue of $528.00 million during the quarter, compared to the consensus estimate of $522.86 million. Research analysts predict that Lamar Advertising Company will post 8.41 earnings per share for the current year.

Lamar Advertising Announces Dividend

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

Analysts Set New Price Targets

LAMR has been the subject of several recent research reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Lamar Advertising in a research note on Friday, May 22nd. Wells Fargo & Company increased their target price on shares of Lamar Advertising from $136.00 to $150.00 and gave the stock an "equal weight" rating in a research note on Friday, May 8th. UBS Group set a $150.00 target price on shares of Lamar Advertising in a research note on Monday, February 23rd. TD Cowen increased their target price on shares of Lamar Advertising from $150.00 to $170.00 and gave the stock a "buy" rating in a research note on Thursday, May 14th. Finally, Morgan Stanley set a $145.00 target price on shares of Lamar Advertising in a research note on Thursday, May 7th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $148.00.

About Lamar Advertising

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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