HighTower Advisors LLC Purchases 27,907 Shares of Lamar Advertising Company $LAMR

HighTower Advisors LLC raised its stake in Lamar Advertising Company (NASDAQ:LAMR) by 3.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 771,959 shares of the real estate investment trust’s stock after purchasing an additional 27,907 shares during the quarter. HighTower Advisors LLC’s holdings in Lamar Advertising were worth $97,715,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Tucker Asset Management LLC bought a new position in Lamar Advertising in the fourth quarter valued at approximately $25,000. Sound Income Strategies LLC grew its stake in Lamar Advertising by 151.0% in the fourth quarter. Sound Income Strategies LLC now owns 251 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 151 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Lamar Advertising in the third quarter valued at approximately $33,000. Beacon Financial Strategies CORP bought a new position in Lamar Advertising in the fourth quarter valued at approximately $35,000. Finally, Measured Wealth Private Client Group LLC bought a new position in Lamar Advertising in the third quarter valued at approximately $39,000. 93.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. UBS Group set a $150.00 price target on Lamar Advertising in a research note on Monday, February 23rd. Morgan Stanley set a $145.00 target price on shares of Lamar Advertising in a report on Thursday, May 7th. TD Cowen upped their target price on shares of Lamar Advertising from $150.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Weiss Ratings raised shares of Lamar Advertising from a “hold (c+)” rating to a “buy (b)” rating in a report on Monday, February 23rd. Finally, Wells Fargo & Company upped their target price on shares of Lamar Advertising from $136.00 to $150.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $148.00.

Insider Activity

In other news, EVP Ross Lamar Reilly sold 5,969 shares of the stock in a transaction on Monday, March 23rd. The stock was sold at an average price of $128.65, for a total transaction of $767,911.85. Following the sale, the executive vice president directly owned 15,850 shares of the company’s stock, valued at approximately $2,039,102.50. This represents a 27.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 15.24% of the company’s stock.

Lamar Advertising Stock Performance

NASDAQ:LAMR opened at $149.41 on Wednesday. The stock has a market cap of $15.16 billion, a P/E ratio of 27.57 and a beta of 1.18. The stock has a 50 day simple moving average of $135.10 and a 200 day simple moving average of $131.54. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 3.33. Lamar Advertising Company has a 1-year low of $113.05 and a 1-year high of $158.69.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.18. The business had revenue of $528.00 million during the quarter, compared to analysts’ expectations of $522.86 million. Lamar Advertising had a return on equity of 55.53% and a net margin of 24.01%. Research analysts anticipate that Lamar Advertising Company will post 8.24 earnings per share for the current year.

Lamar Advertising Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Tuesday, June 16th. Lamar Advertising’s dividend payout ratio is 118.08%.

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.