Citigroup Inc. Raises Holdings in Lamar Advertising Company $LAMR

Key Points

• Citigroup Inc. increased its stake in Lamar Advertising Company by 47.6% during the first quarter, bringing its total ownership to 82,350 shares valued at approximately $9.37 million.
• Several other institutional investors also adjusted their holdings, with institutions owning 93.78% of the company's stock, indicating strong institutional interest in Lamar Advertising.
• Analyst ratings for the stock have varied, with Citigroup upgrading it to a "buy" rating and raising the target price from $114.00 to $135.00 as of late May.

Citigroup Inc. raised its stake in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 47.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 82,350 shares of the real estate investment trust's stock after acquiring an additional 26,569 shares during the period. Citigroup Inc. owned approximately 0.08% of Lamar Advertising worth $9,370,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of LAMR. Northern Trust Corp lifted its stake in shares of Lamar Advertising by 50.5% in the 4th quarter. Northern Trust Corp now owns 1,278,397 shares of the real estate investment trust's stock worth $155,632,000 after purchasing an additional 428,744 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Lamar Advertising by 0.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,109,668 shares of the real estate investment trust's stock worth $126,258,000 after acquiring an additional 7,426 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Lamar Advertising by 5.8% during the 1st 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 buying an additional 50,004 shares in the last quarter. Centersquare Investment Management LLC grew its holdings in Lamar Advertising by 8.8% during the 1st quarter. Centersquare Investment Management LLC now owns 655,886 shares of the real estate investment trust's stock valued at $74,627,000 after buying an additional 52,876 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in Lamar Advertising by 5.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 454,396 shares of the real estate investment trust's stock valued at $51,701,000 after buying an additional 22,671 shares in the last quarter. Institutional investors own 93.78% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on LAMR. JPMorgan Chase & Co. cut their price objective on shares of Lamar Advertising from $125.00 to $122.00 and set a "neutral" rating for the company in a report on Monday, August 11th. Morgan Stanley increased their price objective 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 cut their target price on shares of Lamar Advertising from $122.00 to $119.00 and set an "equal weight" rating for the company in a report on Monday, August 11th. Finally, Citigroup raised shares of Lamar Advertising from a "neutral" rating to a "buy" rating and raised their target price for the company from $114.00 to $135.00 in a report 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, the company currently has a consensus rating of "Hold" and a consensus target price of $134.20.

Lamar Advertising Trading Up 1.6%

NASDAQ LAMR traded up $1.9450 on Wednesday, hitting $122.4950. 282,655 shares of the stock were exchanged, compared to its average volume of 628,685. The company has a debt-to-equity ratio of 3.45, a quick ratio of 0.58 and a current ratio of 0.58. The stock has a fifty day moving average price of $122.47 and a two-hundred day moving average price of $119.14. The firm has a market capitalization of $12.40 billion, a P/E ratio of 28.49 and a beta of 1.36. Lamar Advertising Company has a 52-week low of $99.84 and a 52-week high of $139.88.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its quarterly earnings data on Friday, August 8th. The real estate investment trust reported $2.22 EPS for the quarter, topping the consensus estimate of $1.48 by $0.74. The company 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. Research analysts forecast that Lamar Advertising Company will post 7.92 EPS for the current fiscal year.

About Lamar Advertising

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.