Makaira Partners LLC reduced its stake in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 57.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 224,260 shares of the real estate investment trust's stock after selling 306,223 shares during the quarter. Lamar Advertising accounts for approximately 8.6% of Makaira Partners LLC's portfolio, making the stock its 4th largest holding. Makaira Partners LLC owned 0.22% of Lamar Advertising worth $25,516,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of the business. Hamlin Capital Management LLC lifted its holdings in shares of Lamar Advertising by 3.4% in the first quarter. Hamlin Capital Management LLC now owns 1,311,526 shares of the real estate investment trust's stock valued at $149,225,000 after purchasing an additional 43,081 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Lamar Advertising by 0.4% in the first quarter. Northern Trust Corp now owns 1,282,892 shares of the real estate investment trust's stock valued at $145,967,000 after purchasing an additional 4,495 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Lamar Advertising by 0.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,109,668 shares of the real estate investment trust's stock valued at $126,258,000 after purchasing an additional 7,426 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Lamar Advertising by 5.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 917,833 shares of the real estate investment trust's stock valued at $104,431,000 after purchasing an additional 50,004 shares in the last quarter. Finally, HighTower Advisors LLC lifted its holdings in shares of Lamar Advertising by 4.3% in the first quarter. HighTower Advisors LLC now owns 674,089 shares of the real estate investment trust's stock valued at $76,698,000 after purchasing an additional 27,823 shares in the last quarter. Hedge funds and other institutional investors own 93.78% of the company's stock.
Insider Buying and Selling
In related news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the company's stock in a transaction that occurred on 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 available at the SEC website. Company insiders own 14.99% of the company's stock.
Lamar Advertising Trading Up 0.9%
Shares of LAMR traded up $1.12 on Friday, hitting $127.25. 497,449 shares of the stock traded hands, compared to its average volume of 807,395. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 3.45. The firm has a market capitalization of $12.88 billion, a P/E ratio of 29.59 and a beta of 1.36. The stock's 50 day moving average is $123.32 and its two-hundred day moving average is $119.13. Lamar Advertising Company has a 1 year low of $99.84 and a 1 year high of $139.88.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its quarterly earnings data on Friday, August 8th. The real estate investment trust reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.74. The business had revenue of $579.31 million for the quarter, compared to the consensus estimate 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, sell-side analysts predict that Lamar Advertising Company will post 7.92 earnings per share for the current year.
Lamar Advertising Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors 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 annualized dividend and a yield of 4.9%. Lamar Advertising's dividend payout ratio is 144.19%.
Wall Street Analyst Weigh In
LAMR has been the topic of several recent research reports. Wells Fargo & Company reduced 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. Morgan Stanley upped 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. JPMorgan Chase & Co. reduced their price objective on shares of Lamar Advertising from $125.00 to $122.00 and set a "neutral" rating on the stock in a research note on Monday, August 11th. Finally, Citigroup raised shares of Lamar Advertising from a "neutral" rating to a "buy" rating and upped their price objective for the company from $114.00 to $135.00 in a research note on Thursday, May 29th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $134.20.
Check Out Our Latest Report on LAMR
Lamar Advertising Company Profile
(
Free Report)
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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