Legal & General Group Plc boosted its stake in Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 4.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 232,235 shares of the real estate investment trust's stock after buying an additional 10,265 shares during the period. Legal & General Group Plc owned 0.23% of Lamar Advertising worth $29,396,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Glenmede Investment Management LP grew its position in Lamar Advertising by 3.2% in the 3rd quarter. Glenmede Investment Management LP now owns 2,590 shares of the real estate investment trust's stock valued at $317,000 after buying an additional 81 shares in the last quarter. REAP Financial Group LLC grew its position in Lamar Advertising by 16.3% in the 3rd quarter. REAP Financial Group LLC now owns 622 shares of the real estate investment trust's stock valued at $76,000 after buying an additional 87 shares in the last quarter. Greenleaf Trust grew its position in Lamar Advertising by 1.6% in the 4th quarter. Greenleaf Trust now owns 5,540 shares of the real estate investment trust's stock valued at $701,000 after buying an additional 87 shares in the last quarter. Northwestern Mutual Investment Management Company LLC grew its position in Lamar Advertising by 0.5% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 19,435 shares of the real estate investment trust's stock valued at $2,460,000 after buying an additional 88 shares in the last quarter. Finally, Alliance Wealth Advisors LLC grew its position in Lamar Advertising by 2.8% in the 4th quarter. Alliance Wealth Advisors LLC now owns 3,510 shares of the real estate investment trust's stock valued at $444,000 after buying an additional 94 shares in the last quarter. Institutional investors own 93.78% of the company's stock.
Insider Buying and Selling at Lamar Advertising
In other news, EVP Ross Lamar Reilly sold 5,969 shares of the firm's stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $128.65, for a total transaction of $767,911.85. Following the completion of the transaction, the executive vice president owned 15,850 shares in the company, valued at approximately $2,039,102.50. This trade represents a 27.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 15.24% of the company's stock.
Wall Street Analysts Forecast Growth
LAMR has been the subject of a number of recent analyst reports. Wells Fargo & Company increased 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 report on Friday, May 8th. Weiss Ratings reiterated a "buy (b)" rating on shares of Lamar Advertising in a research report on Friday, May 22nd. Morgan Stanley set a $145.00 target price on shares of Lamar Advertising in a research report on Thursday, May 7th. UBS Group set a $150.00 target price on shares of Lamar Advertising in a research report on Monday, February 23rd. Finally, TD Cowen upped their price target on shares of Lamar Advertising from $150.00 to $170.00 and gave the company a "buy" rating in a report on Thursday, May 14th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $148.00.
Check Out Our Latest Analysis on LAMR
Lamar Advertising Stock Performance
NASDAQ:LAMR opened at $152.46 on Friday. Lamar Advertising Company has a twelve month low of $113.66 and a twelve month high of $158.69. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 3.33. The company has a 50-day moving average of $138.07 and a 200-day moving average of $133.29. The firm has a market cap of $15.47 billion, a price-to-earnings ratio of 28.13 and a beta of 1.18.
Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported $1.00 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $522.86 million. Analysts forecast that Lamar Advertising Company will post 8.41 earnings per share for the current fiscal year.
Lamar Advertising Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a dividend of $1.60 per share. The ex-dividend date is Tuesday, June 16th. This represents a $6.40 annualized dividend and a dividend yield of 4.2%. Lamar Advertising's dividend payout ratio (DPR) is 118.08%.
Lamar Advertising Profile
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Free Report)
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.
See Also
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