Vancity Investment Management Ltd Purchases New Stake 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 acquired a new position in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 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 modified their holdings of the company. 1248 Management LLC acquired a new stake in shares of Lamar Advertising during the 1st quarter valued at about $26,000. Golden State Wealth Management LLC acquired a new position in Lamar Advertising in the first quarter worth about $28,000. HHM Wealth Advisors LLC lifted its stake in Lamar Advertising by 26,900.0% during the first quarter. HHM Wealth Advisors LLC now owns 270 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 269 shares during the period. ST Germain D J Co. Inc. boosted its holdings in Lamar Advertising by 346.0% during the first quarter. ST Germain D J Co. Inc. now owns 281 shares of the real estate investment trust's stock valued at $32,000 after purchasing an additional 218 shares in the last quarter. Finally, Truvestments Capital LLC grew its stake in shares of Lamar Advertising by 79.5% in the 1st quarter. Truvestments Capital LLC now owns 316 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 140 shares during the period. 93.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Lamar Advertising Price Performance

Lamar Advertising stock traded down $1.34 on Wednesday, reaching $126.60. The company's stock had a trading volume of 429,568 shares, compared to its average volume of 645,380. The business's fifty day moving average price is $124.22 and its 200 day moving average price is $119.09. 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 company has a market cap of $12.81 billion, a price-to-earnings ratio of 29.44 and a beta of 1.38. Lamar Advertising Company has a twelve month low of $99.84 and a twelve month high of $139.88.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its earnings results on Friday, August 8th. The real estate investment trust reported $2.22 earnings per share for the quarter, beating analysts' consensus estimates of $1.48 by $0.74. The company had revenue of $579.31 million during the quarter, compared to analyst estimates of $580.72 million. Lamar Advertising had a return on equity of 41.85% and a net margin of 19.72%. Lamar Advertising has set its FY 2025 guidance at 6.090-6.11 EPS. Equities analysts expect that Lamar Advertising Company will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 19th will be paid a $1.55 dividend. The ex-dividend date of this dividend is Friday, September 19th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.9%. Lamar Advertising's payout ratio is currently 144.19%.

Insider Activity

In other news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $124.28, for a total transaction of $2,734,160.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 14.99% of the company's stock.

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.