Lamar Advertising Company $LAMR Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. trimmed its holdings in shares of Lamar Advertising Company (NASDAQ:LAMR) by 4.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 213,212 shares of the real estate investment trust’s stock after selling 10,877 shares during the period. Federated Hermes Inc. owned 0.21% of Lamar Advertising worth $25,875,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Focus Partners Wealth lifted its position in shares of Lamar Advertising by 14.6% in 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 in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in Lamar Advertising by 0.8% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 97,106 shares of the real estate investment trust’s stock worth $11,785,000 after purchasing an additional 733 shares in the last quarter. Millennium Management LLC raised its stake in Lamar Advertising by 158.6% in the 1st quarter. Millennium Management LLC now owns 306,887 shares of the real estate investment trust’s stock valued at $34,918,000 after purchasing an additional 188,213 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Lamar Advertising by 5.1% in the 2nd 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 purchasing an additional 944 shares in the last quarter. Finally, Meixler Investment Management Ltd. boosted its stake in shares of Lamar Advertising by 47.0% during the 2nd quarter. Meixler Investment Management Ltd. now owns 9,650 shares of the real estate investment trust’s stock worth $1,171,000 after purchasing an additional 3,086 shares during the last quarter. Institutional investors and hedge funds own 93.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Lamar Advertising in a research report on Monday. JPMorgan Chase & Co. lifted their target price on shares of Lamar Advertising from $122.00 to $128.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 12th. Finally, Citigroup increased their price target on Lamar Advertising from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. One equities research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Lamar Advertising presently has an average rating of “Hold” and a consensus price target of $131.75.

Lamar Advertising Stock Performance

NASDAQ:LAMR opened at $129.67 on Wednesday. The company has a market cap of $13.13 billion, a P/E ratio of 30.44 and a beta of 1.23. The firm’s 50 day moving average is $124.54 and its two-hundred day moving average is $123.62. Lamar Advertising Company has a fifty-two week low of $99.84 and a fifty-two week high of $134.63. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 3.04.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings data on Thursday, November 6th. The real estate investment trust reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.06. The business had revenue of $585.54 million during the quarter, compared to the consensus estimate of $584.00 million. Lamar Advertising had a return on equity of 43.02% and a net margin of 19.27%. Analysts expect that Lamar Advertising Company will post 7.92 EPS for the current year.

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.