K.J. Harrison & Partners Inc Makes New Investment in Lamar Advertising Company $LAMR

K.J. Harrison & Partners Inc purchased a new stake in Lamar Advertising Company (NASDAQ:LAMR) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,000 shares of the real estate investment trust’s stock, valued at approximately $507,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of LAMR. Praxis Investment Management Inc. increased its stake in shares of Lamar Advertising by 2.7% in the 1st quarter. Praxis Investment Management Inc. now owns 2,846 shares of the real estate investment trust’s stock valued at $360,000 after acquiring an additional 76 shares in the last quarter. Argent Advisors Inc. boosted its stake in Lamar Advertising by 0.6% during the first quarter. Argent Advisors Inc. now owns 14,426 shares of the real estate investment trust’s stock worth $1,827,000 after acquiring an additional 80 shares in the last quarter. Glenmede Investment Management LP boosted its stake in Lamar Advertising by 3.2% during the third quarter. Glenmede Investment Management LP now owns 2,590 shares of the real estate investment trust’s stock worth $317,000 after acquiring an additional 81 shares in the last quarter. REAP Financial Group LLC grew its holdings in Lamar Advertising by 13.5% in the fourth quarter. REAP Financial Group LLC now owns 706 shares of the real estate investment trust’s stock worth $89,000 after purchasing an additional 84 shares during the period. Finally, Greenleaf Trust grew its holdings in Lamar Advertising by 1.6% in the fourth quarter. Greenleaf Trust now owns 5,540 shares of the real estate investment trust’s stock worth $701,000 after purchasing an additional 87 shares during the period. 93.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on LAMR. Weiss Ratings reiterated a “buy (b)” rating on shares of Lamar Advertising in a report on Friday, May 22nd. Wells Fargo & Company raised their target price on Lamar Advertising from $136.00 to $150.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Morgan Stanley set a $145.00 target price on Lamar Advertising in a research report on Thursday, May 7th. Finally, TD Cowen upped their price target on Lamar Advertising from $150.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $148.00.

Lamar Advertising Price Performance

Shares of LAMR opened at $157.56 on Monday. The business’s fifty day moving average is $149.50 and its 200 day moving average is $137.31. Lamar Advertising Company has a 12-month low of $113.66 and a 12-month high of $158.69. 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 stock has a market cap of $15.99 billion, a P/E ratio of 29.07 and a beta of 1.19.

Lamar Advertising (NASDAQ:LAMR) last announced 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 business had revenue of $528.00 million during the quarter, compared to analyst estimates of $522.86 million. Sell-side analysts anticipate that Lamar Advertising Company will post 8.41 earnings per share for the current fiscal year.

Lamar Advertising Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were given a dividend of $1.60 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $6.40 annualized dividend and a dividend yield of 4.1%. Lamar Advertising’s payout ratio is presently 118.08%.

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.