Bayforest Capital Ltd Makes New $172,000 Investment in Lamar Advertising Company $LAMR

Bayforest Capital Ltd acquired a new position in Lamar Advertising Company (NASDAQ:LAMR) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,415 shares of the real estate investment trust’s stock, valued at approximately $172,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in LAMR. AQR Capital Management LLC increased its stake in shares of Lamar Advertising by 426.0% in 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 acquiring an additional 533,959 shares during the period. Nuveen LLC acquired a new stake in shares of Lamar Advertising in the first quarter worth $40,699,000. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Lamar Advertising by 181.7% in 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 acquiring an additional 234,735 shares during the period. Millennium Management LLC increased its stake in shares of Lamar Advertising by 158.6% in the first quarter. Millennium Management LLC now owns 306,887 shares of the real estate investment trust’s stock worth $34,918,000 after acquiring an additional 188,213 shares during the period. Finally, Easterly Investment Partners LLC increased its stake in shares of Lamar Advertising by 269.4% in 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 acquiring an additional 115,762 shares during the period. Institutional investors and hedge funds own 93.78% of the company’s stock.

Lamar Advertising Stock Down 2.4%

Shares of NASDAQ LAMR opened at $118.11 on Friday. The company’s 50-day simple moving average is $123.32 and its 200-day simple moving average is $120.00. Lamar Advertising Company has a 52-week low of $99.84 and a 52-week high of $137.47. The firm has a market cap of $11.96 billion, a price-to-earnings ratio of 27.47 and a beta of 1.37. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 3.45.

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

Lamar Advertising Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders 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 dividend yield of 5.2%. Lamar Advertising’s dividend payout ratio (DPR) is 144.19%.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, CFO Jay Lecoryelle Johnson sold 22,000 shares of Lamar Advertising stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $124.28, for a total value of $2,734,160.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 14.99% of the stock is currently owned by company insiders.

Lamar Advertising Company 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.