Lamar Advertising Company $LAMR Stock Position Increased by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management Co. Ltd. increased its stake in Lamar Advertising Company by 9.5% during the first quarter, now holding 38,320 shares valued at approximately $4.31 million.
• Lamar Advertising posted better-than-expected earnings of $2.22 EPS for the last quarter, beating analysts' estimates of $1.48, though revenue fell slightly short of expectations at $579.31 million.
• The stock currently holds an average rating of "Hold" with a price target range, with some analysts upgrading their ratings while others lowered their targets for the shares.

Resona Asset Management Co. Ltd. lifted its holdings in Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 9.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,320 shares of the real estate investment trust's stock after acquiring an additional 3,329 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Lamar Advertising were worth $4,314,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in LAMR. Northern Trust Corp grew its holdings in Lamar Advertising by 50.5% during the 4th quarter. Northern Trust Corp now owns 1,278,397 shares of the real estate investment trust's stock valued at $155,632,000 after purchasing an additional 428,744 shares in the last quarter. Nuveen LLC acquired a new stake in Lamar Advertising during the 1st quarter valued at $40,699,000. Public Employees Retirement Association of Colorado grew its holdings in Lamar Advertising by 2,424.4% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 229,422 shares of the real estate investment trust's stock valued at $27,930,000 after purchasing an additional 220,334 shares in the last quarter. Easterly Investment Partners LLC grew its holdings in Lamar Advertising by 269.4% during the 1st quarter. Easterly Investment Partners LLC now owns 158,733 shares of the real estate investment trust's stock valued at $18,061,000 after purchasing an additional 115,762 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in Lamar Advertising by 39.8% during the 4th quarter. Nuveen Asset Management LLC now owns 313,629 shares of the real estate investment trust's stock valued at $38,181,000 after purchasing an additional 89,236 shares in the last quarter. 93.78% of the stock is owned by institutional investors and hedge funds.

Lamar Advertising Stock Performance

Shares of Lamar Advertising stock traded down $0.19 during trading hours on Thursday, reaching $122.42. The company's stock had a trading volume of 478,863 shares, compared to its average volume of 747,561. The company's 50 day simple moving average is $122.51 and its 200 day simple moving average is $119.14. The company has a debt-to-equity ratio of 3.45, a quick ratio of 0.58 and a current ratio of 0.58. Lamar Advertising Company has a one year low of $99.84 and a one year high of $139.88. The stock has a market cap of $12.39 billion, a P/E ratio of 28.47 and a beta of 1.36.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its quarterly earnings results on Friday, August 8th. The real estate investment trust reported $2.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.48 by $0.74. Lamar Advertising had a net margin of 19.72% and a return on equity of 41.85%. The company 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 expect that Lamar Advertising Company will post 7.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their price target 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. Citigroup upgraded shares of Lamar Advertising from a "neutral" rating to a "buy" rating and increased their price objective for the company from $114.00 to $135.00 in a research note on Thursday, May 29th. 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 research note on Monday, August 4th. Finally, Wells Fargo & Company reduced their price objective on shares of Lamar Advertising from $122.00 to $119.00 and set an "equal weight" rating on the stock in a research note on Monday, August 11th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $134.20.

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.