Patriot Financial Group Insurance Agency LLC Raises Position in Lamar Advertising Company $LAMR

Patriot Financial Group Insurance Agency LLC grew its stake in Lamar Advertising Company (NASDAQ:LAMR) by 109.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,660 shares of the real estate investment trust’s stock after purchasing an additional 10,252 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Lamar Advertising were worth $2,490,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of LAMR. M&T Bank Corp raised its holdings in Lamar Advertising by 12,278.7% during the 4th quarter. M&T Bank Corp now owns 1,147,876 shares of the real estate investment trust’s stock valued at $145,298,000 after buying an additional 1,138,603 shares during the period. Norges Bank bought a new position in Lamar Advertising during the fourth quarter valued at $104,705,000. AQR Capital Management LLC raised its stake in shares of Lamar Advertising by 123.8% in the second quarter. AQR Capital Management LLC now owns 1,475,525 shares of the real estate investment trust’s stock valued at $177,152,000 after acquiring an additional 816,217 shares during the period. Invesco Ltd. raised its stake in shares of Lamar Advertising by 97.8% in the third quarter. Invesco Ltd. now owns 991,990 shares of the real estate investment trust’s stock valued at $121,439,000 after acquiring an additional 490,463 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Lamar Advertising by 23.9% in the 3rd quarter. Northern Trust Corp now owns 1,629,554 shares of the real estate investment trust’s stock worth $199,490,000 after acquiring an additional 314,235 shares during the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Lamar Advertising Trading Down 0.1%

LAMR stock opened at $156.00 on Monday. The company has a market capitalization of $15.83 billion, a PE ratio of 28.78 and a beta of 1.20. Lamar Advertising Company has a 12 month low of $113.66 and a 12 month high of $158.69. The firm’s 50-day moving average is $147.28 and its 200 day moving average is $136.33. The company has a debt-to-equity ratio of 3.33, a current ratio of 0.58 and a quick ratio of 0.58.

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

Lamar Advertising Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be paid a $1.60 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $6.40 annualized dividend and a yield of 4.1%. Lamar Advertising’s dividend payout ratio is 118.08%.

Analysts Set New Price Targets

LAMR has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Lamar Advertising in a research note on Friday, May 22nd. Wells Fargo & Company increased their price objective on shares of Lamar Advertising from $136.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Morgan Stanley set a $145.00 price objective on shares of Lamar Advertising in a research note on Thursday, May 7th. Finally, TD Cowen boosted their target price on Lamar Advertising from $150.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.00.

Lamar Advertising 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.