Gabelli Funds LLC Boosts Position in Lamar Advertising Company $LAMR

Gabelli Funds LLC grew its stake in shares of Lamar Advertising Company (NASDAQ:LAMR) by 6.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 74,678 shares of the real estate investment trust’s stock after buying an additional 4,582 shares during the period. Gabelli Funds LLC owned 0.07% of Lamar Advertising worth $9,459,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Knights of Columbus Asset Advisors LLC bought a new position in shares of Lamar Advertising in the fourth quarter worth $1,872,000. SG Americas Securities LLC boosted its stake in Lamar Advertising by 323.6% during the fourth quarter. SG Americas Securities LLC now owns 75,297 shares of the real estate investment trust’s stock valued at $9,531,000 after buying an additional 57,520 shares during the period. Markel Group Inc. grew its position in Lamar Advertising by 8.8% during the fourth quarter. Markel Group Inc. now owns 185,000 shares of the real estate investment trust’s stock worth $23,417,000 after buying an additional 15,000 shares in the last quarter. Legal & General Group Plc grew its position in Lamar Advertising by 4.6% during the fourth quarter. Legal & General Group Plc now owns 232,235 shares of the real estate investment trust’s stock worth $29,396,000 after buying an additional 10,265 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in Lamar Advertising by 67.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 34,586 shares of the real estate investment trust’s stock worth $4,378,000 after acquiring an additional 13,974 shares during the last quarter. 93.78% of the stock is owned by hedge funds and other institutional investors.

Lamar Advertising Stock Performance

NASDAQ LAMR opened at $159.46 on Monday. The firm has a market cap of $16.18 billion, a PE ratio of 29.42 and a beta of 1.19. Lamar Advertising Company has a 1-year low of $113.66 and a 1-year high of $164.38. The stock has a 50-day moving average of $154.55 and a 200-day moving average of $140.75. 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 (NASDAQ:LAMR) last posted its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.18. The business had revenue of $528.00 million for the quarter, compared to analyst estimates of $522.86 million. Lamar Advertising had a return on equity of 55.53% and a net margin of 24.01%. As a group, sell-side analysts forecast that Lamar Advertising Company will post 8.41 EPS for the current year.

Lamar Advertising Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were issued a $1.60 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $6.40 annualized dividend and a dividend yield of 4.0%. Lamar Advertising’s dividend payout ratio (DPR) is currently 118.08%.

Wall Street Analyst Weigh In

Several analysts have weighed in on LAMR shares. Wells Fargo & Company raised 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. restated a “neutral” rating and issued a $153.00 price objective on shares of Lamar Advertising in a research report on Wednesday, July 22nd. TD Cowen raised their target price 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. Weiss Ratings reiterated a “buy (b)” rating on shares of Lamar Advertising in a research report on Friday, May 22nd. Finally, Morgan Stanley set a $145.00 price target on shares of Lamar Advertising in a research note on Thursday, May 7th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $154.67.

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.