Private Trust Co. NA Cuts Stock Holdings in Lamar Advertising Company $LAMR

Private Trust Co. NA decreased its holdings in shares of Lamar Advertising Company (NASDAQ:LAMR) by 35.4% in the 2nd quarter, Holdings Channel reports. The firm owned 533 shares of the real estate investment trust’s stock after selling 292 shares during the period. Private Trust Co. NA’s holdings in Lamar Advertising were worth $65,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of LAMR. AQR Capital Management LLC grew its holdings in shares of Lamar Advertising by 426.0% during the first quarter. AQR Capital Management LLC now owns 659,308 shares of the real estate investment trust’s stock worth $74,340,000 after purchasing an additional 533,959 shares in the last quarter. Nuveen LLC purchased a new position in shares of Lamar Advertising during the first quarter worth about $40,699,000. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Lamar Advertising by 181.7% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 363,949 shares of the real estate investment trust’s stock worth $41,410,000 after purchasing an additional 234,735 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Lamar Advertising by 158.6% during the first quarter. Millennium Management LLC now owns 306,887 shares of the real estate investment trust’s stock worth $34,918,000 after purchasing an additional 188,213 shares in the last quarter. Finally, Easterly Investment Partners LLC grew its holdings in shares of Lamar Advertising by 269.4% during the first quarter. Easterly Investment Partners LLC now owns 158,733 shares of the real estate investment trust’s stock worth $18,061,000 after purchasing an additional 115,762 shares in the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Lamar Advertising Stock Performance

Shares of LAMR stock opened at $120.05 on Friday. The company has a debt-to-equity ratio of 3.45, a quick ratio of 0.58 and a current ratio of 0.58. Lamar Advertising Company has a fifty-two week low of $99.84 and a fifty-two week high of $137.30. The stock has a 50 day moving average price of $123.54 and a two-hundred day moving average price of $120.36. The company has a market capitalization of $12.15 billion, a P/E ratio of 27.92 and a beta of 1.37.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data on Friday, August 8th. The real estate investment trust reported $2.22 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.74. Lamar Advertising had a return on equity of 41.85% and a net margin of 19.72%.The firm had revenue of $579.31 million during the quarter, compared to the consensus estimate of $580.72 million. Lamar Advertising has set its FY 2025 guidance at 6.090-6.11 EPS. Analysts expect that Lamar Advertising Company will post 7.92 earnings per share for the current year.

Lamar Advertising Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 19th were given a $1.55 dividend. The ex-dividend date was Friday, September 19th. This represents a $6.20 annualized dividend and a yield of 5.2%. Lamar Advertising’s payout ratio is presently 144.19%.

Insiders Place Their Bets

In other Lamar Advertising news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $124.28, for a total value of $2,734,160.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 14.99% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on LAMR. Morgan Stanley boosted their price objective on Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report on Monday, August 4th. Wells Fargo & Company dropped their target price on Lamar Advertising from $122.00 to $119.00 and set an “equal weight” rating for the company in a research report on Monday, August 11th. Weiss Ratings restated a “buy (b-)” rating on shares of Lamar Advertising in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. dropped their target price on Lamar Advertising from $125.00 to $122.00 and set a “neutral” rating for the company in a research report on Monday, August 11th. 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, the company presently has an average rating of “Moderate Buy” and an average price target of $134.20.

Lamar Advertising Profile

Lamar Advertising Company operates as an outdoor advertising company in the United States and Canada. The company owns and operates billboards, logo signs, and transit advertising displays, as well as rents space for advertising on billboards, buses, shelters, benches, logo plates, and in airport terminals.