UMB Bank n.a. Cuts Position in Lamar Advertising Company $LAMR

UMB Bank n.a. trimmed its holdings in shares of Lamar Advertising Company (NASDAQ:LAMR) by 18.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 887 shares of the real estate investment trust’s stock after selling 199 shares during the period. UMB Bank n.a.’s holdings in Lamar Advertising were worth $108,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. SWS Partners boosted its holdings in Lamar Advertising by 0.6% in the first quarter. SWS Partners now owns 15,347 shares of the real estate investment trust’s stock worth $1,746,000 after acquiring an additional 85 shares in the last quarter. Bessemer Group Inc. boosted its stake in Lamar Advertising by 33.9% in the 1st quarter. Bessemer Group Inc. now owns 371 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 94 shares in the last quarter. MAI Capital Management grew its position in Lamar Advertising by 44.0% during the 1st quarter. MAI Capital Management now owns 360 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 110 shares during the last quarter. Gilbert & Cook Inc. grew its position in Lamar Advertising by 2.7% during the 1st quarter. Gilbert & Cook Inc. now owns 4,455 shares of the real estate investment trust’s stock valued at $507,000 after purchasing an additional 117 shares during the last quarter. Finally, Tocqueville Asset Management L.P. increased its stake in Lamar Advertising by 0.5% during the 1st quarter. Tocqueville Asset Management L.P. now owns 21,993 shares of the real estate investment trust’s stock valued at $2,502,000 after purchasing an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $124.28, for a total transaction of $2,734,160.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 14.99% of the company’s stock.

Lamar Advertising Trading Down 1.1%

Shares of LAMR stock opened at $123.02 on Thursday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 3.45. Lamar Advertising Company has a 12-month low of $99.84 and a 12-month high of $139.88. The stock has a market capitalization of $12.45 billion, a P/E ratio of 28.61 and a beta of 1.38. The firm’s 50 day moving average is $124.49 and its 200 day moving average is $119.23.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings results on Friday, August 8th. The real estate investment trust reported $2.22 earnings per share for the quarter, beating 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. Research analysts expect that Lamar Advertising Company will post 7.92 earnings per share for the current year.

Lamar Advertising Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 19th will be paid a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 5.0%. The ex-dividend date is Friday, September 19th. Lamar Advertising’s dividend payout ratio is 144.19%.

Lamar Advertising Company 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.