Sumitomo Mitsui Trust Group Inc. Increases Holdings in Lamar Advertising Company $LAMR

Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Lamar Advertising Company (NASDAQ:LAMR) by 0.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 97,106 shares of the real estate investment trust’s stock after buying an additional 733 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.09% of Lamar Advertising worth $11,785,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Hamlin Capital Management LLC raised its holdings in shares of Lamar Advertising by 2.1% during the 2nd quarter. Hamlin Capital Management LLC now owns 1,338,419 shares of the real estate investment trust’s stock valued at $162,431,000 after buying an additional 26,893 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Lamar Advertising by 0.4% during the 1st quarter. Northern Trust Corp now owns 1,282,892 shares of the real estate investment trust’s stock valued at $145,967,000 after buying an additional 4,495 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Lamar Advertising by 0.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,109,668 shares of the real estate investment trust’s stock valued at $126,258,000 after buying an additional 7,426 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Lamar Advertising by 5.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 917,833 shares of the real estate investment trust’s stock valued at $104,431,000 after buying an additional 50,004 shares in the last quarter. Finally, HighTower Advisors LLC raised its holdings in shares of Lamar Advertising by 4.3% during the 1st quarter. HighTower Advisors LLC now owns 674,089 shares of the real estate investment trust’s stock valued at $76,698,000 after buying an additional 27,823 shares in the last quarter. 93.78% of the stock is owned by hedge funds and other institutional investors.

Lamar Advertising Price Performance

Shares of LAMR stock opened at $116.42 on Thursday. The firm has a market cap of $11.78 billion, a P/E ratio of 27.07 and a beta of 1.37. Lamar Advertising Company has a fifty-two week low of $99.84 and a fifty-two week high of $137.30. The business’s 50 day moving average price is $123.30 and its 200-day moving average price is $120.80. The company has a debt-to-equity ratio of 3.45, a quick ratio of 0.58 and a current ratio of 0.58.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings data on Friday, August 8th. The real estate investment trust reported $2.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.74. The firm had revenue of $579.31 million for the quarter, compared to analyst estimates of $580.72 million. Lamar Advertising had a return on equity of 41.85% and a net margin of 19.72%. Lamar Advertising has set its FY 2025 guidance at 6.090-6.11 EPS. On average, equities research analysts anticipate 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 was paid on Tuesday, September 30th. Stockholders of record on Friday, September 19th were given a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date was Friday, September 19th. Lamar Advertising’s dividend payout ratio (DPR) is currently 144.19%.

Insider Buying and Selling at Lamar Advertising

In other news, CFO Jay Lecoryelle Johnson sold 22,000 shares of Lamar Advertising stock in a transaction that occurred 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 sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 14.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. JPMorgan Chase & Co. decreased their price target 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. Morgan Stanley lifted 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. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Lamar Advertising in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company decreased their price target on Lamar Advertising from $122.00 to $119.00 and set an “equal weight” rating on the stock in a research note on Monday, August 11th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average 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.