Principal Financial Group Inc. Has $23.53 Million Stock Position in Lamar Advertising Company $LAMR

Principal Financial Group Inc. reduced its holdings in shares of Lamar Advertising Company (NASDAQ:LAMR) by 4.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 192,183 shares of the real estate investment trust’s stock after selling 8,094 shares during the quarter. Principal Financial Group Inc.’s holdings in Lamar Advertising were worth $23,527,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Sivia Capital Partners LLC acquired a new position in Lamar Advertising during the second quarter worth about $510,000. Ameritas Advisory Services LLC acquired a new stake in shares of Lamar Advertising in the 2nd quarter valued at approximately $28,000. Blair William & Co. IL grew its holdings in shares of Lamar Advertising by 1.5% during the 2nd quarter. Blair William & Co. IL now owns 5,358 shares of the real estate investment trust’s stock valued at $650,000 after purchasing an additional 81 shares during the last quarter. IFP Advisors Inc increased its position in Lamar Advertising by 304.0% during the 2nd quarter. IFP Advisors Inc now owns 703 shares of the real estate investment trust’s stock worth $85,000 after purchasing an additional 529 shares in the last quarter. Finally, Concurrent Investment Advisors LLC lifted its stake in Lamar Advertising by 15.8% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 2,060 shares of the real estate investment trust’s stock valued at $250,000 after purchasing an additional 281 shares during the last quarter. Institutional investors own 93.78% of the company’s stock.

Wall Street Analyst Weigh In

LAMR has been the topic of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of Lamar Advertising from $122.00 to $128.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 12th. Citigroup boosted their price objective on Lamar Advertising from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Lamar Advertising in a research report on Monday, December 29th. Finally, Morgan Stanley set a $140.00 price target on Lamar Advertising in a report on Tuesday, December 16th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Lamar Advertising presently has a consensus rating of “Hold” and an average target price of $133.00.

Lamar Advertising Trading Up 1.6%

Shares of LAMR stock opened at $133.23 on Friday. Lamar Advertising Company has a 1-year low of $99.84 and a 1-year high of $134.63. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 3.04. The stock has a market cap of $13.49 billion, a price-to-earnings ratio of 31.27 and a beta of 1.23. The stock has a 50-day moving average of $128.96 and a 200-day moving average of $125.61.

Lamar Advertising (NASDAQ:LAMR) last announced its earnings results on Thursday, November 6th. The real estate investment trust reported $2.20 EPS for the quarter, beating the consensus estimate of $2.14 by $0.06. The business had revenue of $585.54 million for the quarter, compared to analysts’ expectations of $584.00 million. Lamar Advertising had a return on equity of 43.02% and a net margin of 19.27%. On average, 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 disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd were paid a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend was Monday, December 22nd. Lamar Advertising’s dividend payout ratio is currently 145.54%.

Lamar Advertising Company 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.