122,434 Shares in Lamar Advertising Company $LAMR Purchased by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP purchased a new position in Lamar Advertising Company (NASDAQ:LAMR) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 122,434 shares of the real estate investment trust’s stock, valued at approximately $15,498,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Boston Partners boosted its holdings in shares of Lamar Advertising by 2.0% in the 3rd quarter. Boston Partners now owns 2,384,715 shares of the real estate investment trust’s stock worth $291,928,000 after buying an additional 46,361 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Lamar Advertising by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 2,382,137 shares of the real estate investment trust’s stock worth $301,573,000 after buying an additional 32,542 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Lamar Advertising by 23.9% in the 3rd quarter. Northern Trust Corp now owns 1,629,554 shares of the real estate investment trust’s stock worth $199,490,000 after buying an additional 314,235 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Lamar Advertising by 7.6% in the 3rd quarter. AQR Capital Management LLC now owns 1,587,887 shares of the real estate investment trust’s stock worth $193,166,000 after buying an additional 112,362 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of Lamar Advertising by 13.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 1,478,299 shares of the real estate investment trust’s stock worth $180,973,000 after buying an additional 178,880 shares during the last quarter. 93.78% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Ross Lamar Reilly sold 5,969 shares of the stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $128.65, for a total value of $767,911.85. Following the sale, the executive vice president directly owned 15,850 shares of the company’s stock, valued at approximately $2,039,102.50. This represents a 27.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 15.24% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on LAMR shares. Wells Fargo & Company boosted their price target on shares of Lamar Advertising from $136.00 to $150.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. TD Cowen upped their price objective on shares of Lamar Advertising from $150.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Morgan Stanley set a $145.00 price objective on shares of Lamar Advertising in a report on Thursday, May 7th. UBS Group set a $150.00 price objective on shares of Lamar Advertising in a report on Monday, February 23rd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Lamar Advertising in a report on Friday, May 22nd. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $148.00.

Lamar Advertising Trading Down 2.3%

Shares of Lamar Advertising stock opened at $150.99 on Wednesday. Lamar Advertising Company has a 12-month low of $113.66 and a 12-month high of $158.69. The company has a market cap of $15.32 billion, a price-to-earnings ratio of 27.86 and a beta of 1.20. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 3.33. The company’s 50-day moving average price is $144.09 and its 200-day moving average price is $135.21.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.18. Lamar Advertising had a net margin of 24.01% and a return on equity of 55.53%. The firm had revenue of $528.00 million for the quarter, compared to the consensus estimate of $522.86 million. On average, equities analysts expect that Lamar Advertising Company will post 8.41 earnings per share for the current fiscal year.

Lamar Advertising Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Tuesday, June 16th. Lamar Advertising’s dividend payout ratio is presently 118.08%.

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.