Advisors Management Group Inc. ADV Sells 3,857 Shares of Lamar Advertising Company $LAMR

Advisors Management Group Inc. ADV reduced its stake in Lamar Advertising Company (NASDAQ:LAMR) by 10.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,415 shares of the real estate investment trust’s stock after selling 3,857 shares during the period. Advisors Management Group Inc. ADV’s holdings in Lamar Advertising were worth $4,359,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. M&T Bank Corp raised its position in shares of Lamar Advertising by 12,278.7% in the 4th quarter. M&T Bank Corp now owns 1,147,876 shares of the real estate investment trust’s stock worth $145,298,000 after purchasing an additional 1,138,603 shares during the last quarter. Norges Bank purchased a new stake in Lamar Advertising during the 4th quarter valued at about $104,705,000. AQR Capital Management LLC increased its stake in Lamar Advertising by 123.8% during the 2nd quarter. AQR Capital Management LLC now owns 1,475,525 shares of the real estate investment trust’s stock valued at $177,152,000 after purchasing an additional 816,217 shares in the last quarter. Invesco Ltd. increased its stake in Lamar Advertising by 97.8% during the 3rd quarter. Invesco Ltd. now owns 991,990 shares of the real estate investment trust’s stock valued at $121,439,000 after purchasing an additional 490,463 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Lamar Advertising by 23.9% in the third quarter. Northern Trust Corp now owns 1,629,554 shares of the real estate investment trust’s stock worth $199,490,000 after buying an additional 314,235 shares during the last quarter. 93.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LAMR. Citigroup downgraded shares of Lamar Advertising from a “buy” rating to a “neutral” rating and upped their target price for the stock from $145.00 to $160.00 in a research note on Friday. Wells Fargo & Company boosted their price objective on shares of Lamar Advertising from $136.00 to $150.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. TD Cowen upped their price objective on Lamar Advertising from $150.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of Lamar Advertising in a research note on Friday, May 22nd. Finally, Morgan Stanley set a $145.00 target price on Lamar Advertising in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Lamar Advertising has a consensus rating of “Hold” and a consensus price target of $150.50.

Lamar Advertising Price Performance

Shares of NASDAQ:LAMR opened at $155.18 on Friday. The company has a debt-to-equity ratio of 3.33, a quick ratio of 0.58 and a current ratio of 0.58. The firm has a market cap of $15.75 billion, a price-to-earnings ratio of 28.63 and a beta of 1.19. The business has a 50-day simple moving average of $151.93 and a two-hundred day simple moving average of $138.32. Lamar Advertising Company has a fifty-two week low of $113.66 and a fifty-two week high of $162.96.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported $1.00 earnings per share (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 firm had revenue of $528.00 million for the quarter, compared to the consensus estimate of $522.86 million. On average, analysts expect that Lamar Advertising Company will post 8.41 earnings per share for the current year.

Lamar Advertising Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were issued a $1.60 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $6.40 annualized dividend and a yield of 4.1%. Lamar Advertising’s dividend payout ratio (DPR) is currently 118.08%.

About Lamar Advertising

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.