Vancity Investment Management Ltd Takes Position in Lamar Advertising Company $LAMR

Key Points

• Vancity Investment Management Ltd has invested approximately $3.29 million in Lamar Advertising Company by acquiring 28,919 shares during the first quarter.
• A recent earnings report showed Lamar Advertising exceeded expectations with an EPS of $2.22, significantly higher than the consensus estimate of $1.48.
• The company declared a quarterly dividend of $1.55 per share, which represents a yield of 4.8%, set to be paid on September 30th.

Vancity Investment Management Ltd purchased a new stake in Lamar Advertising Company (NASDAQ:LAMR - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 28,919 shares of the real estate investment trust's stock, valued at approximately $3,290,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LAMR. AQR Capital Management LLC boosted its holdings in Lamar Advertising by 426.0% in the first quarter. AQR Capital Management LLC now owns 659,308 shares of the real estate investment trust's stock valued at $74,340,000 after purchasing an additional 533,959 shares during the last quarter. Nuveen LLC purchased a new position in Lamar Advertising in the first quarter valued at about $40,699,000. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Lamar Advertising by 181.7% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 363,949 shares of the real estate investment trust's stock valued at $41,410,000 after purchasing an additional 234,735 shares during the last quarter. Millennium Management LLC lifted its holdings in Lamar Advertising by 158.6% during the 1st quarter. Millennium Management LLC now owns 306,887 shares of the real estate investment trust's stock worth $34,918,000 after buying an additional 188,213 shares during the last quarter. Finally, Easterly Investment Partners LLC lifted 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 worth $18,061,000 after buying an additional 115,762 shares during the last quarter. Hedge funds and other institutional investors own 93.78% of the company's stock.

Insider Activity

In other news, CFO Jay Lecoryelle Johnson sold 22,000 shares of Lamar Advertising stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $124.28, for a total transaction of $2,734,160.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 14.99% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. JPMorgan Chase & Co. reduced their target price on Lamar Advertising from $125.00 to $122.00 and set a "neutral" rating on the stock in a report on Monday, August 11th. Morgan Stanley increased their target price on Lamar Advertising from $125.00 to $135.00 and gave the stock an "equal weight" rating in a report on Monday, August 4th. Wells Fargo & Company reduced their target price on Lamar Advertising from $122.00 to $119.00 and set an "equal weight" rating on the stock in a report on Monday, August 11th. Finally, Citigroup raised Lamar Advertising from a "neutral" rating to a "buy" rating and increased their target price for the stock from $114.00 to $135.00 in a report on Thursday, May 29th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $134.20.

Lamar Advertising Stock Performance

Shares of NASDAQ LAMR traded down $1.22 during mid-day trading on Friday, hitting $127.60. The company had a trading volume of 298,934 shares, compared to its average volume of 624,994. The stock has a market cap of $12.92 billion, a price-to-earnings ratio of 29.67 and a beta of 1.38. Lamar Advertising Company has a 12 month low of $99.84 and a 12 month high of $139.88. The company has a debt-to-equity ratio of 3.45, a current ratio of 0.58 and a quick ratio of 0.58. The firm's 50 day simple moving average is $124.38 and its two-hundred day simple moving average is $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 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 firm had revenue of $579.31 million for the quarter, compared to analysts' expectations of $580.72 million. Lamar Advertising has set its FY 2025 guidance at 6.090-6.11 EPS. As a group, equities research analysts forecast that Lamar Advertising Company will post 7.92 earnings per share for the current year.

Lamar Advertising Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 19th will be given a dividend of $1.55 per share. The ex-dividend date is Friday, September 19th. This represents a $6.20 annualized dividend and a dividend yield of 4.9%. Lamar Advertising's dividend payout ratio (DPR) is 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.