Alliancebernstein L.P. Has $18.21 Million Stock Holdings in Lamar Advertising Company $LAMR

Key Points

• Alliancebernstein L.P. has increased its holdings in Lamar Advertising Company by 29.4%, now owning 160,055 shares valued at approximately $18.2 million.
• Lamar Advertising reported a quarterly earnings per share (EPS) of $2.22, significantly exceeding analysts' expectations, while revenue was slightly below forecast.
• The company has announced a quarterly dividend of $1.55 per share, representing an annual yield of 4.9%, with a payout ratio of 144.19%.

Alliancebernstein L.P. increased its holdings in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 29.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 160,055 shares of the real estate investment trust's stock after purchasing an additional 36,366 shares during the quarter. Alliancebernstein L.P. owned 0.16% of Lamar Advertising worth $18,211,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Bessemer Group Inc. increased its stake in Lamar Advertising by 33.9% during the 1st quarter. Bessemer Group Inc. now owns 371 shares of the real estate investment trust's stock worth $42,000 after purchasing an additional 94 shares in the last quarter. MAI Capital Management increased its stake in Lamar Advertising by 44.0% during the 1st quarter. MAI Capital Management now owns 360 shares of the real estate investment trust's stock worth $41,000 after purchasing an additional 110 shares in the last quarter. Gilbert & Cook Inc. increased its stake in Lamar Advertising by 2.7% during the 1st quarter. Gilbert & Cook Inc. now owns 4,455 shares of the real estate investment trust's stock worth $507,000 after purchasing an additional 117 shares in the last quarter. Tocqueville Asset Management L.P. increased its stake in Lamar Advertising by 0.5% during the 1st quarter. Tocqueville Asset Management L.P. now owns 21,993 shares of the real estate investment trust's stock worth $2,502,000 after purchasing an additional 120 shares in the last quarter. Finally, Truvestments Capital LLC increased its stake 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 owned by institutional investors.

Analysts Set New Price Targets

LAMR has been the subject of a number of research reports. Citigroup raised 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 research note on Thursday, May 29th. Morgan Stanley upped their price target on Lamar Advertising from $125.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Monday, August 4th. Wells Fargo & Company reduced their price target on Lamar Advertising from $122.00 to $119.00 and set an "equal weight" rating for the company in a research report on Monday, August 11th. Finally, JPMorgan Chase & Co. reduced their price target on Lamar Advertising from $125.00 to $122.00 and set a "neutral" rating for the company in a research report on Monday, August 11th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $134.20.

Lamar Advertising Stock Down 1.1%

Shares of NASDAQ LAMR traded down $1.38 during trading hours on Tuesday, hitting $126.36. The company had a trading volume of 941,665 shares, compared to its average volume of 531,038. The stock has a market capitalization of $12.79 billion, a P/E ratio of 29.39 and a beta of 1.38. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 3.45. Lamar Advertising Company has a 1-year low of $99.84 and a 1-year high of $139.88. The firm's 50 day moving average is $124.55 and its 200-day moving average is $119.17.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last released its quarterly earnings data on Friday, August 8th. The real estate investment trust reported $2.22 EPS for the quarter, beating the consensus estimate of $1.48 by $0.74. The company had revenue of $579.31 million during the quarter, compared to the consensus estimate 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, analysts expect that Lamar Advertising Company will post 7.92 earnings per share for the current fiscal 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 issued a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend is Friday, September 19th. Lamar Advertising's dividend payout ratio is presently 144.19%.

Insider Activity at Lamar Advertising

In other news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the stock in a transaction that occurred 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 this hyperlink. 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.