Bleakley Financial Group LLC Buys 3,553 Shares of Lamar Advertising Company $LAMR

Bleakley Financial Group LLC increased its position in Lamar Advertising Company (NASDAQ:LAMR) by 20.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,698 shares of the real estate investment trust’s stock after acquiring an additional 3,553 shares during the quarter. Bleakley Financial Group LLC’s holdings in Lamar Advertising were worth $2,622,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Knights of Columbus Asset Advisors LLC purchased a new position in shares of Lamar Advertising during the fourth quarter worth about $1,872,000. SG Americas Securities LLC raised its stake in Lamar Advertising by 323.6% in the fourth quarter. SG Americas Securities LLC now owns 75,297 shares of the real estate investment trust’s stock valued at $9,531,000 after purchasing an additional 57,520 shares in the last quarter. Markel Group Inc. lifted its position in Lamar Advertising by 8.8% during the fourth quarter. Markel Group Inc. now owns 185,000 shares of the real estate investment trust’s stock valued at $23,417,000 after purchasing an additional 15,000 shares during the last quarter. Legal & General Group Plc lifted its position in Lamar Advertising by 4.6% during the fourth quarter. Legal & General Group Plc now owns 232,235 shares of the real estate investment trust’s stock valued at $29,396,000 after purchasing an additional 10,265 shares during the last quarter. Finally, Pensionfund Sabic purchased a new position in Lamar Advertising in the 4th quarter worth approximately $1,025,000. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Lamar Advertising Stock Up 1.9%

LAMR opened at $160.29 on Thursday. The company has a market cap of $16.26 billion, a P/E ratio of 29.57 and a beta of 1.19. The business’s 50-day moving average price is $153.07 and its 200-day moving average price is $139.06. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 3.33. Lamar Advertising Company has a 12 month low of $113.66 and a 12 month high of $162.96.

Lamar Advertising (NASDAQ:LAMR) last issued its earnings results on Thursday, May 7th. The real estate investment trust reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.18. Lamar Advertising had a return on equity of 55.53% and a net margin of 24.01%.The company had revenue of $528.00 million during the quarter, compared to analysts’ expectations of $522.86 million. On average, equities analysts expect that Lamar Advertising Company will post 8.41 EPS for the current year.

Lamar Advertising Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Tuesday, June 16th. Lamar Advertising’s dividend payout ratio (DPR) is 118.08%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LAMR. Citigroup lowered shares of Lamar Advertising from a “buy” rating to a “neutral” rating and increased their price target for the stock from $145.00 to $160.00 in a report on Friday, July 10th. Wells Fargo & Company upped their target price on shares of Lamar Advertising from $136.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Lamar Advertising in a research note on Friday, May 22nd. TD Cowen raised their price target on Lamar Advertising from $150.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Finally, Morgan Stanley set a $145.00 price objective on Lamar Advertising in a research report on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Lamar Advertising has an average rating of “Hold” and a consensus price target of $150.50.

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.