Millennium Management LLC Boosts Stock Position in Lamar Advertising Company $LAMR

Key Points

• Millennium Management LLC increased its stake in Lamar Advertising Company by 158.6% during Q1, owning approximately 0.30% of the company valued at $34.9 million.
• Insider activity included CFO Jay Lecoryelle Johnson selling 22,000 shares for a total of $2.73 million.
• Lamar Advertising recently announced a quarterly dividend of $1.55, representing a 4.9% dividend yield and a significant payout ratio of 144.19%.

Millennium Management LLC increased its position in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 158.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 306,887 shares of the real estate investment trust's stock after buying an additional 188,213 shares during the quarter. Millennium Management LLC owned about 0.30% of Lamar Advertising worth $34,918,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. 1248 Management LLC acquired a new position in Lamar Advertising during the 1st quarter worth approximately $26,000. Golden State Wealth Management LLC bought a new stake in Lamar Advertising during the 1st quarter worth approximately $28,000. HHM Wealth Advisors LLC increased its holdings in Lamar Advertising by 26,900.0% during the 1st quarter. HHM Wealth Advisors LLC now owns 270 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 269 shares in the last quarter. ST Germain D J Co. Inc. increased its holdings in Lamar Advertising by 346.0% during the 1st quarter. ST Germain D J Co. Inc. now owns 281 shares of the real estate investment trust's stock worth $32,000 after purchasing an additional 218 shares in the last quarter. Finally, Truvestments Capital LLC increased its holdings 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 and hedge funds.

Wall Street Analysts Forecast Growth

LAMR has been the subject of a number of recent research reports. Wells Fargo & Company decreased their price objective on Lamar Advertising from $122.00 to $119.00 and set an "equal weight" rating for the company in a report on Monday, August 11th. Citigroup raised Lamar Advertising from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $114.00 to $135.00 in a report on Thursday, May 29th. Morgan Stanley upped their target price on Lamar Advertising from $125.00 to $135.00 and gave the company an "equal weight" rating in a report on Monday, August 4th. Finally, JPMorgan Chase & Co. reduced their target price on Lamar Advertising from $125.00 to $122.00 and set a "neutral" rating for the company in a report on Monday, August 11th. Two equities 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 company has an average rating of "Hold" and a consensus target price of $134.20.

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 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 SEC, which is available at this hyperlink. Insiders own 14.99% of the company's stock.

Lamar Advertising Stock Performance

Lamar Advertising stock traded down $1.38 during trading on Tuesday, hitting $126.36. The stock had a trading volume of 941,665 shares, compared to its average volume of 531,038. Lamar Advertising Company has a 1 year low of $99.84 and a 1 year high of $139.88. 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 stock's 50 day moving average is $124.55 and its two-hundred day moving average is $119.17. The stock has a market cap of $12.79 billion, a price-to-earnings ratio of 29.39 and a beta of 1.38.

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, beating the consensus estimate of $1.48 by $0.74. Lamar Advertising had a return on equity of 41.85% and a net margin of 19.72%.The business had revenue of $579.31 million for the quarter, compared to the consensus estimate of $580.72 million. Lamar Advertising has set its FY 2025 guidance at 6.090-6.11 EPS. As a group, analysts predict that Lamar Advertising Company will post 7.92 EPS for the current year.

Lamar Advertising Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 19th will be paid a $1.55 dividend. The ex-dividend date is Friday, September 19th. This represents a $6.20 annualized dividend and a yield of 4.9%. Lamar Advertising's dividend payout ratio is presently 144.19%.

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.