Gilman Hill Asset Management LLC Decreases Stake in Lamar Advertising Company $LAMR

Gilman Hill Asset Management LLC cut its stake in shares of Lamar Advertising Company (NASDAQ:LAMR) by 9.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,005 shares of the real estate investment trust’s stock after selling 8,096 shares during the quarter. Lamar Advertising comprises approximately 1.6% of Gilman Hill Asset Management LLC’s investment portfolio, making the stock its 12th biggest holding. Gilman Hill Asset Management LLC owned 0.08% of Lamar Advertising worth $10,039,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LAMR. True Wealth Design LLC grew its stake in Lamar Advertising by 466.7% during the 2nd quarter. True Wealth Design LLC now owns 204 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 168 shares during the last quarter. 1248 Management LLC purchased a new position in shares of Lamar Advertising in the first quarter worth about $26,000. Ameritas Advisory Services LLC acquired a new stake in shares of Lamar Advertising during the second quarter worth about $28,000. Loomis Sayles & Co. L P purchased a new stake in Lamar Advertising in the second quarter valued at approximately $34,000. Finally, Truvestments Capital LLC increased its holdings in Lamar Advertising by 79.5% in the 1st quarter. Truvestments Capital LLC now owns 316 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 140 shares during the period. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Lamar Advertising Stock Performance

LAMR opened at $126.76 on Wednesday. The company has a debt-to-equity ratio of 3.04, a current ratio of 0.59 and a quick ratio of 0.59. The firm has a fifty day moving average price of $126.07 and a 200 day moving average price of $124.23. Lamar Advertising Company has a 1 year low of $99.84 and a 1 year high of $134.63. The stock has a market cap of $12.84 billion, a P/E ratio of 29.76 and a beta of 1.23.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings results on Thursday, November 6th. The real estate investment trust reported $2.20 EPS for the quarter, beating the consensus estimate of $2.14 by $0.06. Lamar Advertising had a net margin of 19.27% and a return on equity of 43.02%. The company had revenue of $585.54 million for the quarter, compared to analyst estimates of $584.00 million. 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 declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 22nd will be issued a $1.55 dividend. The ex-dividend date of this dividend is Monday, December 22nd. This represents a $6.20 dividend on an annualized basis and a yield of 4.9%. Lamar Advertising’s dividend payout ratio is presently 145.54%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Lamar Advertising in a research note on Monday. Citigroup raised their target price on shares of Lamar Advertising from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Morgan Stanley set a $140.00 price target on shares of Lamar Advertising in a report on Tuesday, December 16th. Finally, JPMorgan Chase & Co. increased their price target on Lamar Advertising from $122.00 to $128.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 12th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $133.00.

About Lamar Advertising

Lamar Advertising Company (NASDAQ: LAMR) is one of North America’s largest outdoor advertising firms, specializing in out-of-home media solutions. Since its founding in 1902, the company has grown through a combination of organic expansion and strategic acquisitions to offer a broad portfolio of advertising products. Its core business centers on billboard advertising, encompassing traditional static billboards and a rapidly expanding network of digital displays. These assets enable advertisers to reach consumers with high-impact messaging along highways, in urban centers, and at high-traffic intersections.

In addition to highway billboards, Lamar offers a variety of supplemental out-of-home formats, including transit advertising on buses and shelters, and logo signage at travel plazas and gas stations.