Brighton Jones LLC Makes New $979,000 Investment in Lamar Advertising Company $LAMR

Brighton Jones LLC bought a new position in Lamar Advertising Company (NASDAQ:LAMR) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,070 shares of the real estate investment trust’s stock, valued at approximately $979,000.

Other large investors have also recently bought and sold shares of the company. Bessemer Group Inc. lifted its holdings in Lamar Advertising by 33.9% in the first quarter. Bessemer Group Inc. now owns 371 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 94 shares during the last quarter. Golden State Wealth Management LLC bought a new position in Lamar Advertising in the first quarter worth about $28,000. Focus Partners Wealth lifted its holdings in Lamar Advertising by 14.6% in the first quarter. Focus Partners Wealth now owns 21,739 shares of the real estate investment trust’s stock worth $2,473,000 after acquiring an additional 2,768 shares during the last quarter. Millennium Management LLC lifted its holdings in 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 last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Lamar Advertising by 5.1% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,357 shares of the real estate investment trust’s stock worth $2,349,000 after acquiring an additional 944 shares during the last quarter. Institutional investors own 93.78% of the company’s stock.

Insider Buying and Selling

In related 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 transaction of $2,734,160.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 14.99% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on LAMR shares. Morgan Stanley raised their target price on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report on Monday, August 4th. JPMorgan Chase & Co. cut 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. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Lamar Advertising in a report on Wednesday, October 8th. Finally, Wells Fargo & Company cut 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. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Lamar Advertising presently has an average rating of “Moderate Buy” and a consensus price target of $134.20.

Lamar Advertising Price Performance

Shares of NASDAQ:LAMR opened at $120.02 on Tuesday. Lamar Advertising Company has a 12 month low of $99.84 and a 12 month high of $137.30. The stock has a market cap of $12.15 billion, a price-to-earnings ratio of 27.91 and a beta of 1.37. The stock’s 50 day moving average price is $123.45 and its 200 day moving average price is $120.70. The company has a debt-to-equity ratio of 3.45, a current ratio of 0.58 and a quick ratio of 0.58.

Lamar Advertising (NASDAQ:LAMR) last announced its earnings results on Friday, August 8th. The real estate investment trust reported $2.22 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $580.72 million. Lamar Advertising has set its FY 2025 guidance at 6.090-6.11 EPS. Equities research analysts anticipate that Lamar Advertising Company will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, September 19th were issued a dividend of $1.55 per share. The ex-dividend date of this dividend 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%.

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.