Convergence Investment Partners LLC Invests $807,000 in Lamar Advertising Company $LAMR

Convergence Investment Partners LLC bought a new position in shares of Lamar Advertising Company (NASDAQ:LAMR) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,370 shares of the real estate investment trust’s stock, valued at approximately $807,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its position in Lamar Advertising by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,307,093 shares of the real estate investment trust’s stock worth $165,549,000 after buying an additional 11,586 shares in the last quarter. KBC Group NV grew its holdings in shares of Lamar Advertising by 1,940.7% in the 1st quarter. KBC Group NV now owns 47,753 shares of the real estate investment trust’s stock valued at $6,048,000 after acquiring an additional 45,413 shares in the last quarter. SEB Asset Management AB bought a new position in shares of Lamar Advertising in the 1st quarter valued at about $1,321,000. Swiss National Bank increased its position in shares of Lamar Advertising by 0.4% in the first quarter. Swiss National Bank now owns 171,838 shares of the real estate investment trust’s stock valued at $21,765,000 after acquiring an additional 600 shares during the last quarter. Finally, MTM Investment Management LLC increased its position in shares of Lamar Advertising by 121.5% in the first quarter. MTM Investment Management LLC now owns 5,760 shares of the real estate investment trust’s stock valued at $730,000 after acquiring an additional 3,160 shares during the last quarter. Institutional investors own 93.78% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on LAMR shares. Wells Fargo & Company upped their target price on Lamar Advertising from $136.00 to $150.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Citigroup downgraded Lamar Advertising from a “buy” rating to a “neutral” rating and raised their price target for the company from $145.00 to $160.00 in a research note on Friday, July 10th. TD Cowen boosted their price target on Lamar Advertising from $150.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Morgan Stanley set a $145.00 price objective on Lamar Advertising in a research note on Thursday, May 7th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Lamar Advertising in a report on Friday, May 22nd. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $150.50.

Lamar Advertising Stock Performance

Shares of LAMR opened at $160.07 on Wednesday. The company has a market cap of $16.24 billion, a PE ratio of 29.53 and a beta of 1.19. The firm has a 50-day moving average of $153.82 and a 200-day moving average of $140.04. Lamar Advertising Company has a one year low of $113.66 and a one year high of $164.38. The company has a debt-to-equity ratio of 3.33, a current ratio of 0.58 and a quick ratio of 0.58.

Lamar Advertising (NASDAQ:LAMR) last issued its earnings results on Thursday, May 7th. The real estate investment trust reported $1.00 earnings per share (EPS) for the quarter, beating 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 company had revenue of $528.00 million for the quarter, compared to analysts’ expectations of $522.86 million. As a group, equities analysts forecast that Lamar Advertising Company will post 8.41 earnings per share for the current year.

Lamar Advertising Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders 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 yield of 4.0%. The ex-dividend date of this dividend was Tuesday, June 16th. Lamar Advertising’s payout ratio is 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.