Principle Wealth Partners LLC Sells 503 Shares of Lamar Advertising Company $LAMR

Principle Wealth Partners LLC reduced its position in Lamar Advertising Company (NASDAQ:LAMR) by 15.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,837 shares of the real estate investment trust’s stock after selling 503 shares during the period. Principle Wealth Partners LLC’s holdings in Lamar Advertising were worth $344,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in LAMR. AQR Capital Management LLC raised its holdings in shares of Lamar Advertising by 426.0% in the first quarter. AQR Capital Management LLC now owns 659,308 shares of the real estate investment trust’s stock valued at $74,340,000 after acquiring an additional 533,959 shares in the last quarter. Nuveen LLC bought a new stake in shares of Lamar Advertising in the first quarter valued at about $40,699,000. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Lamar Advertising by 181.7% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 363,949 shares of the real estate investment trust’s stock worth $41,410,000 after purchasing an additional 234,735 shares in the last quarter. Millennium Management LLC raised its holdings in Lamar Advertising by 158.6% in the first quarter. Millennium Management LLC now owns 306,887 shares of the real estate investment trust’s stock worth $34,918,000 after purchasing an additional 188,213 shares in the last quarter. Finally, Easterly Investment Partners LLC raised its holdings in Lamar Advertising by 269.4% in the first quarter. Easterly Investment Partners LLC now owns 158,733 shares of the real estate investment trust’s stock worth $18,061,000 after purchasing an additional 115,762 shares in the last quarter. 93.78% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wells Fargo & Company reduced their target price on shares of Lamar Advertising from $122.00 to $119.00 and set an “equal weight” rating for the company in a report on Monday, August 11th. Morgan Stanley boosted their target price on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report on Monday, August 4th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Lamar Advertising in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Lamar Advertising from $125.00 to $122.00 and set a “neutral” rating for the company in a report on Monday, August 11th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $134.20.

Insider Buying and Selling

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

Lamar Advertising Price Performance

Shares of LAMR stock opened at $120.05 on Friday. Lamar Advertising Company has a fifty-two week low of $99.84 and a fifty-two week high of $137.30. The firm has a market capitalization of $12.15 billion, a price-to-earnings ratio of 27.92 and a beta of 1.37. The company has a debt-to-equity ratio of 3.45, a quick ratio of 0.58 and a current ratio of 0.58. The stock’s 50-day simple moving average is $123.54 and its 200-day simple moving average is $120.36.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Friday, August 8th. The real estate investment trust reported $2.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.48 by $0.74. The business had revenue of $579.31 million for the quarter, compared to analyst estimates 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. As a group, equities analysts forecast that Lamar Advertising Company will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, September 19th were given a $1.55 dividend. The ex-dividend date was Friday, September 19th. This represents a $6.20 dividend on an annualized basis and a yield of 5.2%. Lamar Advertising’s dividend 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.