Lamar Advertising Company $LAMR Shares Acquired by Mitchell Sinkler & Starr PA

Mitchell Sinkler & Starr PA lifted its holdings in shares of Lamar Advertising Company (NASDAQ:LAMR) by 4.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,845 shares of the real estate investment trust’s stock after purchasing an additional 125 shares during the quarter. Mitchell Sinkler & Starr PA’s holdings in Lamar Advertising were worth $345,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Farther Finance Advisors LLC boosted its holdings in Lamar Advertising by 101.2% in the first quarter. Farther Finance Advisors LLC now owns 2,446 shares of the real estate investment trust’s stock valued at $277,000 after acquiring an additional 1,230 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Lamar Advertising in the 1st quarter worth about $1,007,000. Fifth Third Bancorp lifted its stake in shares of Lamar Advertising by 9.3% in the 1st quarter. Fifth Third Bancorp now owns 5,584 shares of the real estate investment trust’s stock valued at $635,000 after purchasing an additional 475 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Lamar Advertising by 17.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 42,394 shares of the real estate investment trust’s stock valued at $4,824,000 after purchasing an additional 6,171 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC lifted its stake in shares of Lamar Advertising by 1.2% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 44,961 shares of the real estate investment trust’s stock valued at $5,116,000 after purchasing an additional 537 shares in the last quarter. Institutional investors and hedge funds own 93.78% of the company’s stock.

Insider Activity

In other news, CFO Jay Lecoryelle Johnson sold 22,000 shares of Lamar Advertising stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $124.28, for a total transaction of $2,734,160.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 14.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on LAMR shares. Wells Fargo & Company reduced their price objective 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. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Lamar Advertising in a research note on Wednesday. Morgan Stanley lifted their price objective on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday, August 4th. Finally, JPMorgan Chase & Co. reduced their price objective 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. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Lamar Advertising currently has a consensus rating of “Moderate Buy” and an average target price of $134.20.

Lamar Advertising Trading Down 0.9%

Shares of LAMR opened at $117.32 on Friday. The stock’s 50-day moving average is $123.73 and its two-hundred day moving average is $119.87. The stock has a market cap of $11.88 billion, a PE ratio of 27.28 and a beta of 1.37. Lamar Advertising Company has a 12 month low of $99.84 and a 12 month high of $139.88. The company has a debt-to-equity ratio of 3.45, a current ratio of 0.58 and a quick 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 EPS for the quarter, topping analysts’ consensus estimates of $1.48 by $0.74. The company had revenue of $579.31 million for the quarter, compared to analysts’ expectations 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. Equities analysts forecast that Lamar Advertising Company will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 19th were paid a dividend of $1.55 per share. 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 payout ratio is currently 144.19%.

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.