Nomura Asset Management Co. Ltd. Increases Holdings in Lamar Advertising Company $LAMR

Nomura Asset Management Co. Ltd. increased its holdings in shares of Lamar Advertising Company (NASDAQ:LAMR) by 4.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 131,355 shares of the real estate investment trust’s stock after purchasing an additional 5,405 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Lamar Advertising were worth $16,627,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Glenmede Investment Management LP boosted its position in Lamar Advertising by 3.2% during the 3rd quarter. Glenmede Investment Management LP now owns 2,590 shares of the real estate investment trust’s stock worth $317,000 after purchasing an additional 81 shares during the period. REAP Financial Group LLC boosted its position in Lamar Advertising by 16.3% during the 3rd quarter. REAP Financial Group LLC now owns 622 shares of the real estate investment trust’s stock worth $76,000 after purchasing an additional 87 shares during the period. Greenleaf Trust boosted its position in Lamar Advertising by 1.6% during the 4th quarter. Greenleaf Trust now owns 5,540 shares of the real estate investment trust’s stock worth $701,000 after purchasing an additional 87 shares during the period. Northwestern Mutual Investment Management Company LLC boosted its position in Lamar Advertising by 0.5% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 19,435 shares of the real estate investment trust’s stock worth $2,460,000 after purchasing an additional 88 shares during the period. Finally, Alliance Wealth Advisors LLC boosted its position in Lamar Advertising by 2.8% during the 4th quarter. Alliance Wealth Advisors LLC now owns 3,510 shares of the real estate investment trust’s stock worth $444,000 after purchasing an additional 94 shares during the period. 93.78% of the stock is owned by hedge funds and other institutional investors.

Lamar Advertising Stock Performance

Shares of LAMR stock opened at $150.48 on Wednesday. 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 Company has a one year low of $113.66 and a one year high of $158.69. The company’s 50-day simple moving average is $138.53 and its 200-day simple moving average is $133.51. The stock has a market capitalization of $15.27 billion, a price-to-earnings ratio of 27.76 and a beta of 1.20.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported $1.00 EPS 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 for the quarter, compared to analysts’ expectations of $522.86 million. Equities analysts anticipate that Lamar Advertising Company will post 8.41 earnings per share for the current fiscal year.

Lamar Advertising Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a dividend of $1.60 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $6.40 annualized dividend and a dividend yield of 4.3%. Lamar Advertising’s dividend payout ratio (DPR) is presently 118.08%.

Insider Activity at Lamar Advertising

In other news, EVP Ross Lamar Reilly sold 5,969 shares of the stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $128.65, for a total transaction of $767,911.85. Following the transaction, the executive vice president owned 15,850 shares of the company’s stock, valued at approximately $2,039,102.50. This trade represents a 27.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 15.24% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Morgan Stanley set a $145.00 price objective on shares of Lamar Advertising in a research report on Thursday, May 7th. TD Cowen upped their price objective on shares of Lamar Advertising from $150.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of Lamar Advertising in a research note on Friday, May 22nd. UBS Group set a $150.00 price target on Lamar Advertising in a research note on Monday, February 23rd. Finally, Wells Fargo & Company boosted their price target on Lamar Advertising from $136.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $148.00.

Lamar Advertising Company 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.