Quantinno Capital Management LP Buys 224,775 Shares of Lamar Advertising Company $LAMR

Quantinno Capital Management LP grew its stake in shares of Lamar Advertising Company (NASDAQ:LAMR) by 49.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 677,202 shares of the real estate investment trust’s stock after purchasing an additional 224,775 shares during the quarter. Quantinno Capital Management LP’s holdings in Lamar Advertising were worth $85,774,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. SummitTX Capital L.P. raised its holdings in Lamar Advertising by 6.1% during the 1st quarter. SummitTX Capital L.P. now owns 2,455 shares of the real estate investment trust’s stock valued at $311,000 after buying an additional 142 shares during the last quarter. Lazard Asset Management LLC grew its holdings in Lamar Advertising by 220.0% in the 1st quarter. Lazard Asset Management LLC now owns 28,109 shares of the real estate investment trust’s stock worth $3,560,000 after acquiring an additional 19,324 shares during the last quarter. Gateway Wealth Partners LLC increased its position in shares of Lamar Advertising by 141.3% in the first quarter. Gateway Wealth Partners LLC now owns 4,773 shares of the real estate investment trust’s stock valued at $605,000 after acquiring an additional 2,795 shares during the period. Van Diest Capital LLC raised its stake in shares of Lamar Advertising by 24.9% during the first quarter. Van Diest Capital LLC now owns 2,359 shares of the real estate investment trust’s stock valued at $299,000 after acquiring an additional 470 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Lamar Advertising during the first quarter valued at about $12,440,000. 93.78% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LAMR has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their price target on Lamar Advertising from $136.00 to $150.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $153.00 price objective on shares of Lamar Advertising in a report on Wednesday, July 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Lamar Advertising in a research report on Friday, May 22nd. Morgan Stanley set a $145.00 target price on Lamar Advertising in a research note on Thursday, May 7th. Finally, Citigroup downgraded Lamar Advertising from a “buy” rating to a “neutral” rating and upped their target price for the company from $145.00 to $160.00 in a report on Friday, July 10th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Lamar Advertising has a consensus rating of “Hold” and an average target price of $154.67.

Lamar Advertising Stock Up 1.0%

Shares of NASDAQ:LAMR opened at $160.99 on Tuesday. The firm has a market capitalization of $16.34 billion, a P/E ratio of 29.70 and a beta of 1.19. The company has a debt-to-equity ratio of 3.33, a quick ratio of 0.58 and a current ratio of 0.58. The stock has a 50 day moving average price of $154.82 and a 200-day moving average price of $140.99. Lamar Advertising Company has a 52-week low of $113.66 and a 52-week high of $164.38.

Lamar Advertising (NASDAQ:LAMR) last issued 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 company had revenue of $528.00 million for 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%. As a group, equities research analysts anticipate that Lamar Advertising Company will post 8.41 EPS for the current fiscal year.

Lamar Advertising Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were paid a dividend of $1.60 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 4.0%. Lamar Advertising’s dividend payout ratio (DPR) is currently 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.