Rhumbline Advisers Reduces Position in Lamar Advertising Company $LAMR

Rhumbline Advisers trimmed its stake in Lamar Advertising Company (NASDAQ:LAMR) by 3.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 273,651 shares of the real estate investment trust’s stock after selling 9,415 shares during the period. Rhumbline Advisers’ holdings in Lamar Advertising were worth $33,500,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of LAMR. Berkshire Hathaway Inc purchased a new stake in Lamar Advertising in the second quarter worth about $141,931,000. Norges Bank bought a new position in shares of Lamar Advertising during the 2nd quarter valued at approximately $116,240,000. AQR Capital Management LLC increased its holdings in Lamar Advertising by 123.8% in the 2nd quarter. AQR Capital Management LLC now owns 1,475,525 shares of the real estate investment trust’s stock worth $177,152,000 after acquiring an additional 816,217 shares in the last quarter. Geode Capital Management LLC raised its stake in Lamar Advertising by 27.8% during the 2nd quarter. Geode Capital Management LLC now owns 2,344,637 shares of the real estate investment trust’s stock worth $284,577,000 after acquiring an additional 510,025 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Lamar Advertising by 22.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,064,441 shares of the real estate investment trust’s stock valued at $130,309,000 after purchasing an additional 197,175 shares in the last quarter. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Lamar Advertising Stock Performance

LAMR opened at $131.79 on Friday. 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 $13.35 billion, a price-to-earnings ratio of 30.94 and a beta of 1.23. The company has a fifty day moving average of $128.99 and a 200 day moving average of $125.88. Lamar Advertising Company has a fifty-two week low of $99.84 and a fifty-two week high of $136.69.

Lamar Advertising Announces Dividend

The company 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 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend was Monday, December 22nd. Lamar Advertising’s payout ratio is 145.54%.

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.