Royal Bank of Canada Purchases 2,244 Shares of Lamar Advertising Company $LAMR

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 lifted its stake in Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 1.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. 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 approximately 0.14% of Lamar Advertising worth $15,984,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Nuveen LLC acquired a new position in Lamar Advertising during the first quarter worth approximately $40,699,000. Kayne Anderson Rudnick Investment Management LLC increased its position in Lamar Advertising by 181.7% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 363,949 shares of the real estate investment trust's stock worth $41,410,000 after buying an additional 234,735 shares during the last quarter. Easterly Investment Partners LLC increased its position in Lamar Advertising by 269.4% during the first quarter. Easterly Investment Partners LLC now owns 158,733 shares of the real estate investment trust's stock worth $18,061,000 after buying an additional 115,762 shares during the last quarter. Nuveen Asset Management LLC increased its position in Lamar Advertising by 39.8% during the fourth quarter. Nuveen Asset Management LLC now owns 313,629 shares of the real estate investment trust's stock worth $38,181,000 after buying an additional 89,236 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Lamar Advertising by 10,231.4% during the first quarter. GAMMA Investing LLC now owns 78,622 shares of the real estate investment trust's stock worth $8,946,000 after buying an additional 77,861 shares during the last quarter. Institutional investors and hedge funds own 93.78% of the company's stock.

Lamar Advertising Stock Performance

Shares of LAMR stock traded up $0.14 during trading hours on Monday, hitting $127.74. 450,059 shares of the company were exchanged, compared to its average volume of 560,773. The firm has a fifty day simple moving average of $124.49 and a 200 day simple moving average of $119.12. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 3.45. Lamar Advertising Company has a 52-week low of $99.84 and a 52-week high of $139.88. The stock has a market capitalization of $12.93 billion, a price-to-earnings ratio of 29.71 and a beta of 1.38.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last released 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 the consensus estimate 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 predict that Lamar Advertising Company will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Dividend Announcement

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

Insider Buying and Selling

In related news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were 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 can be accessed through the SEC website. Company insiders own 14.99% of the company's stock.

Wall Street Analysts Forecast Growth

LAMR has been the subject of several recent research reports. Wells Fargo & Company cut their price target 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. Morgan Stanley boosted their price target 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. Citigroup upgraded Lamar Advertising from a "neutral" rating to a "buy" rating and boosted their price target for the company from $114.00 to $135.00 in a research note on Thursday, May 29th. Finally, JPMorgan Chase & Co. cut their price target 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. 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, the company presently has an average rating of "Hold" and an average price target of $134.20.

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.