Thrivent Financial for Lutherans Sells 5,669 Shares of Lamar Advertising Company $LAMR

Thrivent Financial for Lutherans lowered its stake in shares of Lamar Advertising Company (NASDAQ:LAMR) by 21.6% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 20,612 shares of the real estate investment trust’s stock after selling 5,669 shares during the period. Thrivent Financial for Lutherans’ holdings in Lamar Advertising were worth $2,523,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. AlphaQuest LLC raised its holdings in shares of Lamar Advertising by 1,251.2% during the third quarter. AlphaQuest LLC now owns 8,945 shares of the real estate investment trust’s stock valued at $1,095,000 after purchasing an additional 8,283 shares during the last quarter. Arizona State Retirement System grew its position in Lamar Advertising by 1.2% in the 3rd quarter. Arizona State Retirement System now owns 26,007 shares of the real estate investment trust’s stock worth $3,184,000 after purchasing an additional 315 shares during the period. Argent Advisors Inc. raised its stake in Lamar Advertising by 0.7% during the 3rd quarter. Argent Advisors Inc. now owns 14,122 shares of the real estate investment trust’s stock valued at $1,729,000 after buying an additional 98 shares during the last quarter. Benedict Financial Advisors Inc. bought a new position in shares of Lamar Advertising during the 3rd quarter valued at $1,881,000. Finally, Foundations Investment Advisors LLC boosted its stake in shares of Lamar Advertising by 6.0% in the 3rd quarter. Foundations Investment Advisors LLC now owns 3,390 shares of the real estate investment trust’s stock worth $415,000 after buying an additional 192 shares during the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Lamar Advertising Stock Performance

LAMR opened at $132.42 on Tuesday. The company has a 50 day simple moving average of $128.95 and a two-hundred day simple moving average of $125.66. 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 market cap of $13.41 billion, a P/E ratio of 31.08 and a beta of 1.23. Lamar Advertising Company has a 1-year low of $99.84 and a 1-year high of $134.63.

Lamar Advertising Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd were paid a $1.55 dividend. The ex-dividend date of this dividend was Monday, December 22nd. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.7%. Lamar Advertising’s dividend payout ratio is 145.54%.

Analyst Upgrades and Downgrades

LAMR has been the subject of a number of recent research reports. Morgan Stanley set a $140.00 price target on Lamar Advertising in a research note on Tuesday, December 16th. Weiss Ratings restated a “hold (c+)” rating on shares of Lamar Advertising in a research report on Monday, December 29th. Citigroup increased their price target on shares of Lamar Advertising from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Lamar Advertising from $122.00 to $128.00 and gave the company a “neutral” rating in a research report on Wednesday, November 12th. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price 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.