Lamar Advertising Company $LAMR Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. cut its position in Lamar Advertising Company (NASDAQ:LAMR) by 67.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,003 shares of the real estate investment trust’s stock after selling 14,695 shares during the quarter. QRG Capital Management Inc.’s holdings in Lamar Advertising were worth $857,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Parallel Advisors LLC lifted its position in shares of Lamar Advertising by 27.6% during the second quarter. Parallel Advisors LLC now owns 1,068 shares of the real estate investment trust’s stock worth $130,000 after purchasing an additional 231 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in Lamar Advertising in the 2nd quarter valued at approximately $510,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Lamar Advertising by 42.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 60,551 shares of the real estate investment trust’s stock worth $7,522,000 after acquiring an additional 18,157 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Lamar Advertising by 66.7% during the second quarter. Farther Finance Advisors LLC now owns 4,077 shares of the real estate investment trust’s stock worth $495,000 after acquiring an additional 1,631 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Lamar Advertising by 77.4% in the second quarter. GAMMA Investing LLC now owns 1,226 shares of the real estate investment trust’s stock valued at $149,000 after acquiring an additional 535 shares in the last quarter. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on LAMR shares. JPMorgan Chase & Co. increased their price target on Lamar Advertising from $122.00 to $128.00 and gave the company a “neutral” rating in a research report on Wednesday, November 12th. Morgan Stanley set a $140.00 price target on shares of Lamar Advertising in a research note on Tuesday, December 16th. Weiss Ratings reissued a “hold (c+)” rating on shares of Lamar Advertising in a research report on Monday, December 29th. Finally, Citigroup lifted their price objective on shares of Lamar Advertising from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Lamar Advertising presently has a consensus rating of “Hold” and a consensus price target of $133.00.

Lamar Advertising Stock Up 1.1%

LAMR opened at $132.00 on Thursday. Lamar Advertising Company has a one year low of $99.84 and a one year high of $134.63. The company has a debt-to-equity ratio of 3.04, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a market capitalization of $13.37 billion, a P/E ratio of 30.99 and a beta of 1.23. The business’s 50-day simple moving average is $129.29 and its 200-day simple moving average is $125.26.

Lamar Advertising (NASDAQ:LAMR) last announced its earnings results on Thursday, November 6th. The real estate investment trust reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.06. The firm had revenue of $585.54 million during the quarter, compared to analysts’ expectations of $584.00 million. Lamar Advertising had a return on equity of 43.02% and a net margin of 19.27%. Analysts anticipate that Lamar Advertising Company will post 7.92 EPS for the current year.

Lamar Advertising Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd were issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend was Monday, December 22nd. Lamar Advertising’s payout ratio is presently 145.54%.

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.