Miller Howard Investments Inc. NY Purchases 152,833 Shares of Lamar Advertising Company $LAMR

Miller Howard Investments Inc. NY boosted its position in Lamar Advertising Company (NASDAQ:LAMR) by 48.5% during the first quarter, Holdings Channel reports. The institutional investor owned 468,026 shares of the real estate investment trust’s stock after purchasing an additional 152,833 shares during the quarter. Lamar Advertising comprises approximately 1.6% of Miller Howard Investments Inc. NY’s portfolio, making the stock its 21st largest holding. Miller Howard Investments Inc. NY’s holdings in Lamar Advertising were worth $59,280,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Glenmede Investment Management LP grew its stake in shares of Lamar Advertising by 3.2% during the 3rd quarter. Glenmede Investment Management LP now owns 2,590 shares of the real estate investment trust’s stock worth $317,000 after acquiring an additional 81 shares in the last quarter. REAP Financial Group LLC boosted its holdings in Lamar Advertising by 13.5% during the fourth quarter. REAP Financial Group LLC now owns 706 shares of the real estate investment trust’s stock worth $89,000 after purchasing an additional 84 shares during the last quarter. Greenleaf Trust boosted its holdings in Lamar Advertising by 1.6% during the fourth quarter. Greenleaf Trust now owns 5,540 shares of the real estate investment trust’s stock worth $701,000 after purchasing an additional 87 shares during the last quarter. Northwestern Mutual Investment Management Company LLC grew its position in Lamar Advertising by 0.5% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 19,435 shares of the real estate investment trust’s stock valued at $2,460,000 after purchasing an additional 88 shares in the last quarter. Finally, Alliance Wealth Advisors LLC grew its position in Lamar Advertising by 2.8% in the fourth quarter. Alliance Wealth Advisors LLC now owns 3,510 shares of the real estate investment trust’s stock valued at $444,000 after purchasing an additional 94 shares in the last quarter. Institutional investors own 93.78% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. TD Cowen lifted their price target on shares of Lamar Advertising from $150.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Morgan Stanley set a $145.00 price objective on Lamar Advertising in a report on Thursday, May 7th. Wells Fargo & Company lifted their target price on Lamar Advertising from $136.00 to $150.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Lamar Advertising in a report on Friday, May 22nd. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Lamar Advertising currently has an average rating of “Moderate Buy” and an average price target of $148.00.

Lamar Advertising Stock Performance

LAMR opened at $152.38 on Wednesday. Lamar Advertising Company has a 12-month low of $113.66 and a 12-month high of $158.69. The stock has a market cap of $15.46 billion, a price-to-earnings ratio of 28.11 and a beta of 1.20. The business has a 50 day moving average of $146.03 and a 200-day moving average of $135.85. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 3.33.

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

Lamar Advertising Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Tuesday, June 16th. Lamar Advertising’s payout ratio is 118.08%.

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.