CI Investments Inc. Sells 13,210 Shares of Lamar Advertising Company $LAMR

CI Investments Inc. trimmed its holdings in shares of Lamar Advertising Company (NASDAQ:LAMR) by 5.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 210,193 shares of the real estate investment trust’s stock after selling 13,210 shares during the quarter. CI Investments Inc.’s holdings in Lamar Advertising were worth $26,623,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of LAMR. First Trust Advisors LP increased its position in shares of Lamar Advertising by 118.7% in the first quarter. First Trust Advisors LP now owns 57,909 shares of the real estate investment trust’s stock worth $7,335,000 after purchasing an additional 31,430 shares during the last quarter. Convergence Investment Partners LLC purchased a new position in Lamar Advertising in the 1st quarter worth approximately $807,000. Dimensional Fund Advisors LP grew its stake in Lamar Advertising by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,307,093 shares of the real estate investment trust’s stock worth $165,549,000 after buying an additional 11,586 shares in the last quarter. KBC Group NV increased its holdings in shares of Lamar Advertising by 1,940.7% in the 1st quarter. KBC Group NV now owns 47,753 shares of the real estate investment trust’s stock worth $6,048,000 after buying an additional 45,413 shares during the last quarter. Finally, SEB Asset Management AB bought a new position in shares of Lamar Advertising in the 1st quarter worth $1,321,000. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Lamar Advertising Price Performance

Shares of Lamar Advertising stock opened at $158.91 on Thursday. The company has a debt-to-equity ratio of 3.33, a current ratio of 0.58 and a quick ratio of 0.58. Lamar Advertising Company has a one year low of $113.66 and a one year high of $164.38. The business’s 50 day simple moving average is $154.06 and its two-hundred day simple moving average is $140.27. The stock has a market capitalization of $16.12 billion, a P/E ratio of 29.32 and a beta of 1.19.

Lamar Advertising (NASDAQ:LAMR) last issued its earnings results on Thursday, May 7th. The real estate investment trust reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.18. Lamar Advertising had a net margin of 24.01% and a return on equity of 55.53%. The firm had revenue of $528.00 million for the quarter, compared to analysts’ expectations of $522.86 million. Analysts forecast that Lamar Advertising Company will post 8.41 EPS for the current year.

Lamar Advertising Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were given a $1.60 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 4.0%. Lamar Advertising’s payout ratio is presently 118.08%.

Analyst Ratings Changes

A number of analysts have recently issued reports on LAMR shares. Citigroup downgraded shares of Lamar Advertising from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $145.00 to $160.00 in a report on Friday, July 10th. Wells Fargo & Company lifted their price target on Lamar Advertising from $136.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Lamar Advertising in a report on Friday, May 22nd. TD Cowen increased their price objective on Lamar Advertising from $150.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $153.00 price target on shares of Lamar Advertising in a research report on Wednesday. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $154.67.

Lamar Advertising Profile

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.