Ibex Wealth Advisors Buys 5,707 Shares of Lamar Advertising Company $LAMR

Ibex Wealth Advisors boosted its stake in Lamar Advertising Company (NASDAQ:LAMR) by 10.7% during the first quarter, HoldingsChannel reports. The firm owned 59,051 shares of the real estate investment trust’s stock after buying an additional 5,707 shares during the period. Ibex Wealth Advisors’ holdings in Lamar Advertising were worth $7,479,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Sivia Capital Partners LLC bought a new position in shares of Lamar Advertising in the 2nd quarter worth $510,000. Arrowstreet Capital Limited Partnership raised its position in shares of Lamar Advertising by 250.0% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 47,604 shares of the real estate investment trust’s stock valued at $5,777,000 after buying an additional 34,002 shares in the last quarter. Amundi lifted its holdings in shares of Lamar Advertising by 224.6% during the 2nd quarter. Amundi now owns 2,048 shares of the real estate investment trust’s stock worth $255,000 after acquiring an additional 1,417 shares during the last quarter. Gamco Investors INC. ET AL bought a new stake in shares of Lamar Advertising during the 2nd quarter worth $873,000. Finally, Cerity Partners LLC grew its position in Lamar Advertising by 39.0% in the second quarter. Cerity Partners LLC now owns 37,166 shares of the real estate investment trust’s stock worth $4,510,000 after acquiring an additional 10,423 shares in the last quarter. 93.78% of the stock is currently owned by institutional investors.

Lamar Advertising Price Performance

Shares of Lamar Advertising stock opened at $162.25 on Friday. Lamar Advertising Company has a 52-week low of $113.66 and a 52-week high of $162.96. The stock has a market capitalization of $16.46 billion, a price-to-earnings ratio of 29.94 and a beta of 1.19. The company has a fifty day moving average of $151.54 and a 200-day moving average of $138.20. The company has a debt-to-equity ratio of 3.33, a quick ratio of 0.58 and a current ratio of 0.58.

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

Lamar Advertising Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 3.9%. The ex-dividend date was Tuesday, June 16th. Lamar Advertising’s dividend payout ratio (DPR) is presently 118.08%.

Wall Street Analysts Forecast Growth

LAMR has been the topic of a number of research analyst reports. Morgan Stanley set a $145.00 target price on Lamar Advertising in a research note on Thursday, May 7th. Citigroup lowered Lamar Advertising from a “buy” rating to a “neutral” rating in a research note on Friday. Wells Fargo & Company increased their price objective on Lamar Advertising from $136.00 to $150.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Lamar Advertising in a report on Friday, May 22nd. Finally, TD Cowen raised their price objective on Lamar Advertising from $150.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $148.00.

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.