Voya Investment Management LLC Lowers Position in Lamar Advertising Company $LAMR

Voya Investment Management LLC cut its position in shares of Lamar Advertising Company (NASDAQ:LAMR) by 26.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,925 shares of the real estate investment trust’s stock after selling 10,141 shares during the quarter. Voya Investment Management LLC’s holdings in Lamar Advertising were worth $3,419,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LAMR. Dynamic Advisor Solutions LLC lifted its position in Lamar Advertising by 1.7% during the third quarter. Dynamic Advisor Solutions LLC now owns 47,058 shares of the real estate investment trust’s stock valued at $5,761,000 after buying an additional 802 shares during the period. Patriot Financial Group Insurance Agency LLC increased its stake in shares of Lamar Advertising by 2.4% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 8,758 shares of the real estate investment trust’s stock worth $1,072,000 after acquiring an additional 206 shares in the last quarter. HF Advisory Group LLC lifted its position in Lamar Advertising by 1.6% during the 3rd quarter. HF Advisory Group LLC now owns 5,494 shares of the real estate investment trust’s stock valued at $673,000 after acquiring an additional 86 shares during the period. Aaron Wealth Advisors LLC purchased a new position in Lamar Advertising during the 3rd quarter valued at about $378,000. Finally, Caldwell Trust Co bought a new stake in Lamar Advertising during the second quarter worth about $49,000. 93.78% of the stock is owned by hedge funds and other institutional investors.

Lamar Advertising Price Performance

Shares of LAMR opened at $126.55 on Friday. Lamar Advertising Company has a twelve month low of $99.84 and a twelve month high of $134.63. The company has a market capitalization of $12.82 billion, a P/E ratio of 29.71 and a beta of 1.23. The firm has a 50 day moving average of $126.51 and a 200 day moving average of $124.31. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 3.04.

Lamar Advertising (NASDAQ:LAMR) last issued its earnings results on Thursday, November 6th. The real estate investment trust reported $2.20 EPS for the quarter, beating the consensus estimate of $2.14 by $0.06. The business had revenue of $585.54 million for the quarter, compared to the consensus estimate of $584.00 million. Lamar Advertising had a return on equity of 43.02% and a net margin of 19.27%. As a group, equities research analysts anticipate that Lamar Advertising Company will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 22nd will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Monday, December 22nd. This represents a $6.20 annualized dividend and a dividend yield of 4.9%. Lamar Advertising’s dividend payout ratio (DPR) is 145.54%.

Wall Street Analyst Weigh In

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