Lamar Advertising Company $LAMR Shares Acquired by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC lifted its stake in shares of Lamar Advertising Company (NASDAQ:LAMR) by 15.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,060 shares of the real estate investment trust’s stock after acquiring an additional 281 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Lamar Advertising were worth $250,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Bessemer Group Inc. increased its stake in shares of Lamar Advertising by 33.9% during the first quarter. Bessemer Group Inc. now owns 371 shares of the real estate investment trust’s stock valued at $42,000 after acquiring an additional 94 shares during the period. Golden State Wealth Management LLC acquired a new position in shares of Lamar Advertising during the first quarter valued at approximately $28,000. Focus Partners Wealth increased its stake in shares of Lamar Advertising by 14.6% during the first quarter. Focus Partners Wealth now owns 21,739 shares of the real estate investment trust’s stock valued at $2,473,000 after acquiring an additional 2,768 shares during the period. Millennium Management LLC increased its stake in shares of Lamar Advertising by 158.6% during the first quarter. Millennium Management LLC now owns 306,887 shares of the real estate investment trust’s stock valued at $34,918,000 after acquiring an additional 188,213 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Lamar Advertising by 5.1% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,357 shares of the real estate investment trust’s stock valued at $2,349,000 after acquiring an additional 944 shares during the period. Institutional investors and hedge funds own 93.78% of the company’s stock.

Lamar Advertising Trading Up 0.9%

NASDAQ LAMR opened at $120.10 on Tuesday. Lamar Advertising Company has a twelve month low of $99.84 and a twelve month high of $137.47. The company has a debt-to-equity ratio of 3.45, a quick ratio of 0.58 and a current ratio of 0.58. The stock has a market cap of $12.16 billion, a price-to-earnings ratio of 27.93 and a beta of 1.37. The firm’s 50 day moving average price is $123.49 and its two-hundred day moving average price is $120.25.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings results on Friday, August 8th. The real estate investment trust reported $2.22 EPS for the quarter, beating the consensus estimate of $1.48 by $0.74. Lamar Advertising had a net margin of 19.72% and a return on equity of 41.85%. The business 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 analysts anticipate that Lamar Advertising Company will post 7.92 EPS for the current year.

Lamar Advertising Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 19th were issued a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 5.2%. The ex-dividend date was Friday, September 19th. Lamar Advertising’s payout ratio is currently 144.19%.

Insider Activity at Lamar Advertising

In other news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the business’s stock in a transaction 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 14.99% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

LAMR has been the topic of several recent research reports. Morgan Stanley lifted their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Monday, August 4th. JPMorgan Chase & Co. decreased their price target on shares of Lamar Advertising from $125.00 to $122.00 and set a “neutral” rating on the stock in a research report on Monday, August 11th. Weiss Ratings restated a “buy (b-)” rating on shares of Lamar Advertising in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company decreased their price target on shares of 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. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.20.

About Lamar Advertising

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.