Sumitomo Mitsui DS Asset Management Company Ltd Increases Position in Lamar Advertising Company $LAMR

Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Lamar Advertising Company (NASDAQ:LAMR) by 5.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,357 shares of the real estate investment trust’s stock after acquiring an additional 944 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Lamar Advertising were worth $2,349,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Hamlin Capital Management LLC grew its stake in Lamar Advertising by 3.4% in the first quarter. Hamlin Capital Management LLC now owns 1,311,526 shares of the real estate investment trust’s stock worth $149,225,000 after purchasing an additional 43,081 shares in the last quarter. Northern Trust Corp grew its stake in Lamar Advertising by 0.4% in the first quarter. Northern Trust Corp now owns 1,282,892 shares of the real estate investment trust’s stock worth $145,967,000 after purchasing an additional 4,495 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Lamar Advertising by 0.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,109,668 shares of the real estate investment trust’s stock worth $126,258,000 after purchasing an additional 7,426 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Lamar Advertising by 5.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 917,833 shares of the real estate investment trust’s stock worth $104,431,000 after purchasing an additional 50,004 shares in the last quarter. Finally, HighTower Advisors LLC grew its stake in Lamar Advertising by 4.3% in the first quarter. HighTower Advisors LLC now owns 674,089 shares of the real estate investment trust’s stock worth $76,698,000 after purchasing an additional 27,823 shares in the last quarter. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LAMR has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their price target on Lamar Advertising from $125.00 to $122.00 and set a “neutral” rating for the company in a research note on Monday, August 11th. Wells Fargo & Company decreased their price target on Lamar Advertising from $122.00 to $119.00 and set an “equal weight” rating for the company in a research note on Monday, August 11th. Citigroup upgraded Lamar Advertising from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $114.00 to $135.00 in a research note on Thursday, May 29th. Finally, Morgan Stanley lifted their target price on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday, August 4th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Lamar Advertising has a consensus rating of “Hold” and an average price target of $134.20.

Insider Buying and Selling

In other Lamar Advertising news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $124.28, for a total value of $2,734,160.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 14.99% of the stock is currently owned by insiders.

Lamar Advertising Price Performance

Shares of NASDAQ:LAMR opened at $123.75 on Monday. Lamar Advertising Company has a 12 month low of $99.84 and a 12 month high of $139.88. The stock has a market cap of $12.53 billion, a price-to-earnings ratio of 28.78 and a beta of 1.38. The stock’s 50 day moving average price is $124.55 and its 200 day moving average price is $119.18. The company has a debt-to-equity ratio of 3.45, a current ratio of 0.58 and a quick ratio of 0.58.

Lamar Advertising (NASDAQ:LAMR) last announced its earnings results on Friday, August 8th. The real estate investment trust reported $2.22 EPS for the quarter, topping the consensus estimate of $1.48 by $0.74. Lamar Advertising had a return on equity of 41.85% and a net margin of 19.72%.The firm had revenue of $579.31 million for the quarter, compared to analysts’ expectations of $580.72 million. Lamar Advertising has set its FY 2025 guidance at 6.090-6.11 EPS. Equities research analysts anticipate that Lamar Advertising Company will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 19th will be issued a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, September 19th. This represents a $6.20 annualized dividend and a yield of 5.0%. Lamar Advertising’s payout ratio is presently 144.19%.

Lamar Advertising Profile

Lamar Advertising Company operates as an outdoor advertising company in the United States and Canada. The company owns and operates billboards, logo signs, and transit advertising displays, as well as rents space for advertising on billboards, buses, shelters, benches, logo plates, and in airport terminals.