Renaissance Technologies LLC Acquires New Stake in Lamar Advertising Company $LAMR

Renaissance Technologies LLC bought a new position in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 98,212 shares of the real estate investment trust's stock, valued at approximately $12,440,000. Renaissance Technologies LLC owned 0.10% of Lamar Advertising at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Gabelli Funds LLC raised its position in shares of Lamar Advertising by 6.5% during the first quarter. Gabelli Funds LLC now owns 74,678 shares of the real estate investment trust's stock worth $9,459,000 after acquiring an additional 4,582 shares during the last quarter. Gamco Investors INC. ET AL increased its position in Lamar Advertising by 1.0% during the 1st quarter. Gamco Investors INC. ET AL now owns 7,523 shares of the real estate investment trust's stock valued at $953,000 after purchasing an additional 78 shares during the period. Public Employees Retirement System of Ohio raised its holdings in Lamar Advertising by 109.3% during the 1st quarter. Public Employees Retirement System of Ohio now owns 131,749 shares of the real estate investment trust's stock worth $16,687,000 after purchasing an additional 68,806 shares during the last quarter. Compound Planning Inc. raised its holdings in Lamar Advertising by 7.3% during the 1st quarter. Compound Planning Inc. now owns 6,588 shares of the real estate investment trust's stock worth $834,000 after purchasing an additional 449 shares during the last quarter. Finally, Klingman & Associates LLC lifted its position in shares of Lamar Advertising by 7.5% in the 1st quarter. Klingman & Associates LLC now owns 20,424 shares of the real estate investment trust's stock worth $2,587,000 after purchasing an additional 1,427 shares during the period. Institutional investors own 93.78% of the company's stock.

Wall Street Analyst Weigh In

LAMR has been the topic of a number of analyst reports. Morgan Stanley set a $145.00 price objective on shares of Lamar Advertising in a research note on Thursday, May 7th. Wells Fargo & Company upped their price target 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. TD Cowen increased their price target on Lamar Advertising from $150.00 to $170.00 and gave the stock a "buy" rating in a report on Thursday, May 14th. Citigroup lowered Lamar Advertising from a "buy" rating to a "neutral" rating and lifted their price objective for the stock from $145.00 to $160.00 in a research report on Friday, July 10th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Lamar Advertising in a research note on Friday, May 22nd. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $154.67.

Lamar Advertising Price Performance

Shares of NASDAQ LAMR opened at $159.96 on Friday. The firm's 50-day moving average price is $155.62 and its 200-day moving average price is $141.84. Lamar Advertising Company has a 1-year low of $113.66 and a 1-year high of $166.33. The firm has a market capitalization of $16.23 billion, a P/E ratio of 29.51 and a beta of 1.19. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 3.33.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last issued its earnings results on Thursday, May 7th. The real estate investment trust reported $1.00 EPS for the quarter, beating the consensus estimate of $0.82 by $0.18. Lamar Advertising had a return on equity of 55.53% and a net margin of 24.01%.The company had revenue of $528.00 million during the quarter, compared to the consensus estimate of $522.86 million. Equities research analysts anticipate that Lamar Advertising Company will post 8.41 earnings per share for the current fiscal year.

Lamar Advertising Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Tuesday, June 16th. Lamar Advertising's dividend payout ratio is presently 118.08%.

Lamar Advertising Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.