Victory Capital Management Inc. Has $396.45 Million Position in Lamar Advertising Company $LAMR

Key Points

• Victory Capital Management trimmed its Lamar Advertising stake slightly in the fourth quarter, but still held 3.13 million shares valued at about $396.4 million, equal to roughly 3.09% ownership.
• Lamar Advertising reported strong quarterly results, posting EPS of $1.00 versus the $0.82 consensus and revenue of $528 million, while analysts now see full-year EPS of 8.41.
• The company declared a quarterly dividend of $1.60 per share, or $6.40 annualized, which implies a 4.1% yield; analysts currently rate the stock a Moderate Buy with a $148 average target price.

Victory Capital Management Inc. reduced its stake in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 0.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,131,989 shares of the real estate investment trust's stock after selling 25,489 shares during the quarter. Victory Capital Management Inc. owned approximately 3.09% of Lamar Advertising worth $396,447,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in LAMR. Sivia Capital Partners LLC acquired a new stake in shares of Lamar Advertising during the second quarter worth approximately $510,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Lamar Advertising by 250.0% during the second quarter. Arrowstreet Capital Limited Partnership now owns 47,604 shares of the real estate investment trust's stock worth $5,777,000 after purchasing an additional 34,002 shares during the period. Amundi lifted its stake in Lamar Advertising by 224.6% in the second quarter. Amundi now owns 2,048 shares of the real estate investment trust's stock valued at $255,000 after acquiring an additional 1,417 shares during the last quarter. Gamco Investors INC. ET AL acquired a new stake in Lamar Advertising in the second quarter valued at approximately $873,000. Finally, Cerity Partners LLC lifted its stake in Lamar Advertising by 39.0% in the second quarter. Cerity Partners LLC now owns 37,166 shares of the real estate investment trust's stock valued at $4,510,000 after acquiring an additional 10,423 shares during the last quarter. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Lamar Advertising

In other news, EVP Ross Lamar Reilly sold 5,969 shares of Lamar Advertising stock in a transaction that occurred on Monday, March 23rd. The shares were sold at an average price of $128.65, for a total value of $767,911.85. Following the transaction, the executive vice president owned 15,850 shares of the company's stock, valued at $2,039,102.50. This trade represents a 27.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 15.24% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Wells Fargo & Company lifted their target price on shares of Lamar Advertising from $136.00 to $150.00 and gave the company an "equal weight" rating in a research note on Friday, May 8th. UBS Group set a $150.00 target price on shares of Lamar Advertising in a research note on Monday, February 23rd. Weiss Ratings reiterated a "buy (b)" rating on shares of Lamar Advertising in a research note on Friday, May 22nd. Morgan Stanley set a $145.00 target price on shares of Lamar Advertising in a research note on Thursday, May 7th. Finally, TD Cowen lifted their target price on shares of Lamar Advertising from $150.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, May 14th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $148.00.

Lamar Advertising Trading Up 1.3%

NASDAQ:LAMR opened at $154.35 on Friday. Lamar Advertising Company has a 12 month low of $113.66 and a 12 month high of $158.69. The firm has a market cap of $15.66 billion, a price-to-earnings ratio of 28.48 and a beta of 1.20. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 3.33. The company's 50 day moving average is $143.09 and its 200-day moving average is $134.91.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported $1.00 EPS for the quarter, beating analysts' consensus estimates of $0.82 by $0.18. Lamar Advertising had a net margin of 24.01% and a return on equity of 55.53%. The company had revenue of $528.00 million for the quarter, compared to analyst estimates of $522.86 million. Equities analysts anticipate that Lamar Advertising Company will post 8.41 EPS for the current year.

Lamar Advertising Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a $1.60 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 4.1%. Lamar Advertising's dividend payout ratio (DPR) is currently 118.08%.

Lamar Advertising Profile

Lamar Advertising Company NASDAQ: LAMR is one of North America's largest outdoor advertising firms, specializing in out-of-home media solutions. Since its founding in 1902, the company has grown through a combination of organic expansion and strategic acquisitions to offer a broad portfolio of advertising products. Its core business centers on billboard advertising, encompassing traditional static billboards and a rapidly expanding network of digital displays. These assets enable advertisers to reach consumers with high-impact messaging along highways, in urban centers, and at high-traffic intersections.

In addition to highway billboards, Lamar offers a variety of supplemental out-of-home formats, including transit advertising on buses and shelters, and logo signage at travel plazas and gas stations.

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