Renaissance Technologies LLC Acquires New Stake in Lamar Advertising Company $LAMR

Renaissance Technologies LLC bought a new position in shares of Lamar Advertising Company (NASDAQ:LAMR) during the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 98,212 shares of the real estate investment trust’s stock, valued at approximately $12,440,000. Renaissance Technologies LLC owned 0.10% of Lamar Advertising at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Gabelli Funds LLC raised its position in shares of Lamar Advertising by 6.5% during the first quarter. Gabelli Funds LLC now owns 74,678 shares of the real estate investment trust’s stock worth $9,459,000 after acquiring an additional 4,582 shares during the last quarter. Gamco Investors INC. ET AL increased its position in Lamar Advertising by 1.0% during the 1st quarter. Gamco Investors INC. ET AL now owns 7,523 shares of the real estate investment trust’s stock valued at $953,000 after purchasing an additional 78 shares during the period. Public Employees Retirement System of Ohio raised its holdings in Lamar Advertising by 109.3% during the 1st quarter. Public Employees Retirement System of Ohio now owns 131,749 shares of the real estate investment trust’s stock worth $16,687,000 after purchasing an additional 68,806 shares during the last quarter. Compound Planning Inc. raised its holdings in Lamar Advertising by 7.3% during the 1st quarter. Compound Planning Inc. now owns 6,588 shares of the real estate investment trust’s stock worth $834,000 after purchasing an additional 449 shares during the last quarter. Finally, Klingman & Associates LLC lifted its position in shares of Lamar Advertising by 7.5% in the 1st quarter. Klingman & Associates LLC now owns 20,424 shares of the real estate investment trust’s stock worth $2,587,000 after purchasing an additional 1,427 shares during the period. Institutional investors own 93.78% of the company’s stock.

Wall Street Analyst Weigh In

LAMR has been the topic of a number of analyst reports. Morgan Stanley set a $145.00 price objective on shares of Lamar Advertising in a research note on Thursday, May 7th. Wells Fargo & Company upped their price target on shares of Lamar Advertising from $136.00 to $150.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. TD Cowen increased their price target on Lamar Advertising from $150.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Citigroup lowered Lamar Advertising from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $145.00 to $160.00 in a research report on Friday, July 10th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Lamar Advertising in a research note on Friday, May 22nd. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $154.67.

Lamar Advertising Price Performance

Shares of NASDAQ LAMR opened at $159.96 on Friday. The firm’s 50-day moving average price is $155.62 and its 200-day moving average price is $141.84. Lamar Advertising Company has a 1-year low of $113.66 and a 1-year high of $166.33. The firm has a market capitalization of $16.23 billion, a P/E ratio of 29.51 and a beta of 1.19. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 3.33.

Lamar Advertising (NASDAQ:LAMR) last issued its earnings results on Thursday, May 7th. The real estate investment trust reported $1.00 EPS for the quarter, beating the consensus estimate of $0.82 by $0.18. Lamar Advertising had a return on equity of 55.53% and a net margin of 24.01%.The company had revenue of $528.00 million during the quarter, compared to the consensus estimate of $522.86 million. Equities research analysts anticipate that Lamar Advertising Company will post 8.41 earnings per share for the current fiscal year.

Lamar Advertising Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th were given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Tuesday, June 16th. Lamar Advertising’s dividend payout ratio is presently 118.08%.

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.