Lamar Advertising Company $LAMR Shares Bought by Royal Bank of Canada

Key Points

• Royal Bank of Canada increased its holdings in Lamar Advertising by 1.6% in the first quarter, owning approximately 140,481 shares valued at $15,984,000.
• Lamar Advertising reported earnings of $2.22 per share for the latest quarter, significantly exceeding analysts' expectations of $1.48.
• The company declared a quarterly dividend of $1.55, which will be paid on September 30th, representing an annualized yield of 4.8%.

Royal Bank of Canada increased its holdings in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 1.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 140,481 shares of the real estate investment trust's stock after acquiring an additional 2,244 shares during the quarter. Royal Bank of Canada owned about 0.14% of Lamar Advertising worth $15,984,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Bessemer Group Inc. increased its holdings in shares of Lamar Advertising by 33.9% in the first quarter. Bessemer Group Inc. now owns 371 shares of the real estate investment trust's stock valued at $42,000 after purchasing an additional 94 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Lamar Advertising in the first quarter valued at approximately $28,000. Farther Finance Advisors LLC increased its holdings in shares of Lamar Advertising by 101.2% in the first quarter. Farther Finance Advisors LLC now owns 2,446 shares of the real estate investment trust's stock valued at $277,000 after purchasing an additional 1,230 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Lamar Advertising in the first quarter valued at approximately $1,007,000. Finally, Fifth Third Bancorp increased its holdings in shares of Lamar Advertising by 9.3% in the first quarter. Fifth Third Bancorp now owns 5,584 shares of the real estate investment trust's stock valued at $635,000 after purchasing an additional 475 shares during the last quarter. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LAMR has been the subject of several recent analyst reports. Citigroup raised Lamar Advertising from a "neutral" rating to a "buy" rating and raised their target price for the stock from $114.00 to $135.00 in a research note on Thursday, May 29th. Wells Fargo & Company dropped their price objective on Lamar Advertising from $122.00 to $119.00 and set an "equal weight" rating for the company in a research note on Monday, August 11th. JPMorgan Chase & Co. dropped their price objective on Lamar Advertising from $125.00 to $122.00 and set a "neutral" rating for the company in a research note on Monday, August 11th. Finally, Morgan Stanley lifted their price objective on Lamar Advertising from $125.00 to $135.00 and gave the company an "equal weight" rating in a research note on Monday, August 4th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Lamar Advertising currently has an average rating of "Hold" and a consensus target price of $134.20.

Insider Buying and Selling at Lamar Advertising

In other news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the business's stock in a transaction dated 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 available through this hyperlink. Insiders own 14.99% of the company's stock.

Lamar Advertising Stock Down 0.9%

NASDAQ LAMR traded down $1.22 during trading on Friday, reaching $127.60. 298,934 shares of the company's stock were exchanged, compared to its average volume of 624,994. Lamar Advertising Company has a 1 year low of $99.84 and a 1 year high of $139.88. 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 market cap of $12.92 billion, a P/E ratio of 29.67 and a beta of 1.38. The company has a 50 day moving average price of $124.38 and a two-hundred day moving average price of $119.14.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its earnings results on Friday, August 8th. The real estate investment trust reported $2.22 earnings per share 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 during 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. On average, equities research analysts anticipate that Lamar Advertising Company will post 7.92 EPS for the current fiscal year.

Lamar Advertising Dividend Announcement

The company also recently announced 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 payout ratio is presently 144.19%.

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.