K.J. Harrison & Partners Inc Has $667,000 Stock Holdings in Lamar Advertising Company $LAMR

K.J. Harrison & Partners Inc lessened its holdings in shares of Lamar Advertising Company (NASDAQ:LAMR) by 26.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 5,500 shares of the real estate investment trust’s stock after selling 2,000 shares during the period. K.J. Harrison & Partners Inc’s holdings in Lamar Advertising were worth $667,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. 1248 Management LLC bought a new stake in shares of Lamar Advertising during the first quarter worth $26,000. Ameritas Advisory Services LLC bought a new stake in shares of Lamar Advertising during the second quarter worth $28,000. HHM Wealth Advisors LLC grew its holdings in shares of Lamar Advertising by 26,900.0% during the first quarter. HHM Wealth Advisors LLC now owns 270 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 269 shares during the last quarter. Truvestments Capital LLC boosted its holdings in Lamar Advertising by 79.5% in the first quarter. Truvestments Capital LLC now owns 316 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 140 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in Lamar Advertising by 55.5% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 356 shares of the real estate investment trust’s stock valued at $43,000 after acquiring an additional 127 shares during the last quarter. Institutional investors own 93.78% of the company’s stock.

Lamar Advertising Trading Up 2.1%

NASDAQ:LAMR opened at $118.59 on Monday. Lamar Advertising Company has a 1-year low of $99.84 and a 1-year high of $136.89. The business’s 50-day moving average price is $123.01 and its two-hundred day moving average price is $120.99. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 3.45. The firm has a market capitalization of $12.00 billion, a price-to-earnings ratio of 27.58 and a beta of 1.37.

Lamar Advertising (NASDAQ:LAMR) last released its earnings results 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. The firm had revenue of $579.31 million for the quarter, compared to analyst estimates of $580.72 million. Lamar Advertising had a return on equity of 41.85% and a net margin of 19.72%. Lamar Advertising has set its FY 2025 guidance at 6.090-6.11 EPS. On average, equities analysts expect that Lamar Advertising Company will post 7.92 earnings per share for the current year.

Lamar Advertising Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 19th were given a dividend of $1.55 per share. The ex-dividend date of this dividend was Friday, September 19th. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.2%. Lamar Advertising’s dividend payout ratio (DPR) is currently 144.19%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Morgan Stanley raised their price target on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a report on Monday, August 4th. Wells Fargo & Company decreased their price target on Lamar Advertising from $122.00 to $119.00 and set an “equal weight” rating on the stock in a report on Monday, August 11th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Lamar Advertising in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. decreased their price target on Lamar Advertising from $125.00 to $122.00 and set a “neutral” rating on the stock in a report on Monday, August 11th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.20.

Insider Activity at Lamar Advertising

In other news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $124.28, for a total transaction of $2,734,160.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 14.99% of the stock is currently owned by corporate insiders.

About Lamar Advertising

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.