Lamar Advertising Company $LAMR Shares Acquired by Fred Alger Management LLC

Fred Alger Management LLC lifted its holdings in shares of Lamar Advertising Company (NASDAQ:LAMR) by 12.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 34,588 shares of the real estate investment trust’s stock after acquiring an additional 3,700 shares during the period. Fred Alger Management LLC’s holdings in Lamar Advertising were worth $3,935,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Bank of America Corp DE increased its stake in Lamar Advertising by 3.7% in the fourth quarter. Bank of America Corp DE now owns 414,176 shares of the real estate investment trust’s stock valued at $50,422,000 after purchasing an additional 14,676 shares during the last quarter. Baird Financial Group Inc. grew its position in shares of Lamar Advertising by 21.2% in the 4th quarter. Baird Financial Group Inc. now owns 2,184 shares of the real estate investment trust’s stock valued at $266,000 after buying an additional 382 shares during the last quarter. Cetera Investment Advisers raised its stake in Lamar Advertising by 3.6% during the 4th quarter. Cetera Investment Advisers now owns 63,789 shares of the real estate investment trust’s stock worth $7,766,000 after acquiring an additional 2,210 shares in the last quarter. Deutsche Bank AG raised its stake in Lamar Advertising by 394.5% during the 4th quarter. Deutsche Bank AG now owns 69,138 shares of the real estate investment trust’s stock worth $8,417,000 after acquiring an additional 55,157 shares in the last quarter. Finally, Focus Partners Wealth purchased a new stake in Lamar Advertising in the fourth quarter valued at $2,310,000. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Insider Buying and Selling at Lamar Advertising

In related news, CFO Jay Lecoryelle Johnson sold 22,000 shares of Lamar Advertising stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $124.28, for a total value of $2,734,160.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 14.99% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on LAMR shares. Citigroup raised Lamar Advertising from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $114.00 to $135.00 in a report on Thursday, May 29th. Morgan Stanley raised their price target on Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Monday, August 4th. Wells Fargo & Company cut their price target on Lamar Advertising from $122.00 to $119.00 and set an “equal weight” rating on the stock in a research report on Monday, August 11th. Finally, JPMorgan Chase & Co. reduced their price objective on Lamar Advertising from $125.00 to $122.00 and set a “neutral” rating for the company in a research note on Monday, August 11th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Lamar Advertising has an average rating of “Hold” and an average price target of $134.20.

Lamar Advertising Price Performance

Shares of LAMR opened at $127.94 on Wednesday. The company has a market capitalization of $12.95 billion, a price-to-earnings ratio of 29.75 and a beta of 1.38. Lamar Advertising Company has a fifty-two week low of $99.84 and a fifty-two week high of $139.88. The firm has a 50-day simple moving average of $124.17 and a 200-day simple moving average of $119.04. The company has a debt-to-equity ratio of 3.45, a quick ratio of 0.58 and a current ratio of 0.58.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings data on Friday, August 8th. The real estate investment trust reported $2.22 EPS for the quarter, beating the consensus estimate of $1.48 by $0.74. Lamar Advertising had a return on equity of 41.85% and a net margin of 19.72%.The firm had revenue of $579.31 million during the quarter, compared to the consensus estimate of $580.72 million. Lamar Advertising has set its FY 2025 guidance at 6.090-6.11 EPS. On average, equities research analysts anticipate that Lamar Advertising Company will post 7.92 earnings per share for the current year.

Lamar Advertising Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 19th will be issued a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, September 19th. This represents a $6.20 annualized dividend and a dividend yield of 4.8%. Lamar Advertising’s dividend payout ratio (DPR) is currently 144.19%.

Lamar Advertising Profile

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.