Voya Investment Management LLC Cuts Stake in Lamar Advertising Company $LAMR

Voya Investment Management LLC reduced its holdings in shares of Lamar Advertising Company (NASDAQ:LAMR) by 26.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,925 shares of the real estate investment trust’s stock after selling 10,141 shares during the period. Voya Investment Management LLC’s holdings in Lamar Advertising were worth $3,419,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Blair William & Co. IL boosted its stake in shares of Lamar Advertising by 1.5% in the 2nd quarter. Blair William & Co. IL now owns 5,358 shares of the real estate investment trust’s stock valued at $650,000 after purchasing an additional 81 shares in the last quarter. JB Capital LLC boosted its position in Lamar Advertising by 0.3% during the second quarter. JB Capital LLC now owns 29,916 shares of the real estate investment trust’s stock valued at $3,631,000 after buying an additional 82 shares during the period. SWS Partners boosted its position in Lamar Advertising by 0.6% during the first quarter. SWS Partners now owns 15,347 shares of the real estate investment trust’s stock valued at $1,746,000 after buying an additional 85 shares during the period. HF Advisory Group LLC grew its stake in shares of Lamar Advertising by 1.6% during the third quarter. HF Advisory Group LLC now owns 5,494 shares of the real estate investment trust’s stock valued at $673,000 after buying an additional 86 shares during the last quarter. Finally, Atalanta Sosnoff Capital LLC increased its holdings in shares of Lamar Advertising by 4.0% in the second quarter. Atalanta Sosnoff Capital LLC now owns 2,475 shares of the real estate investment trust’s stock worth $300,000 after buying an additional 96 shares during the period. 93.78% of the stock is owned by hedge funds and other institutional investors.

Lamar Advertising Price Performance

LAMR opened at $126.55 on Friday. The company has a debt-to-equity ratio of 3.04, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a market capitalization of $12.82 billion, a PE ratio of 29.71 and a beta of 1.23. The stock’s 50 day moving average price is $126.51 and its 200-day moving average price is $124.31. Lamar Advertising Company has a 52-week low of $99.84 and a 52-week high of $134.63.

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

Lamar Advertising Announces Dividend

The business also recently declared 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 is Monday, December 22nd. This represents a $6.20 annualized dividend and a dividend yield of 4.9%. Lamar Advertising’s payout ratio is currently 145.54%.

Analysts Set New Price Targets

Several research firms recently issued reports on LAMR. JPMorgan Chase & Co. raised their price target on Lamar Advertising from $122.00 to $128.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 12th. Morgan Stanley set a $140.00 target price on shares of Lamar Advertising in a report on Tuesday, December 16th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Lamar Advertising in a research note on Monday. Finally, Citigroup increased their price target on shares of Lamar Advertising from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Lamar Advertising presently has an average rating of “Hold” and an average target price of $133.00.

Lamar Advertising Company 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.