Lamar Advertising (NASDAQ:LAMR) Sets New 1-Year High – Here’s What Happened

Lamar Advertising Company (NASDAQ:LAMR) reached a new 52-week high on Tuesday . The stock traded as high as $136.54 and last traded at $135.6580, with a volume of 60702 shares. The stock had previously closed at $132.42.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LAMR. Morgan Stanley set a $140.00 price objective on shares of Lamar Advertising in a research note on Tuesday, December 16th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Lamar Advertising in a research report on Monday, December 29th. JPMorgan Chase & Co. upped their price target on shares of Lamar Advertising from $122.00 to $128.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 12th. Finally, Citigroup raised their price target on Lamar Advertising from $135.00 to $145.00 and gave the company a “buy” rating in a report on Thursday, November 13th. One research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $133.00.

Lamar Advertising Stock Up 2.0%

The stock’s fifty day simple moving average is $128.95 and its 200-day simple moving average is $125.66. The company has a debt-to-equity ratio of 3.04, a quick ratio of 0.59 and a current ratio of 0.59. The stock has a market cap of $13.68 billion, a P/E ratio of 31.70 and a beta of 1.23.

Lamar Advertising Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 22nd were issued a $1.55 dividend. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date was Monday, December 22nd. Lamar Advertising’s dividend payout ratio (DPR) is currently 145.54%.

Hedge Funds Weigh In On Lamar Advertising

A number of hedge funds and other institutional investors have recently modified their holdings of LAMR. True Wealth Design LLC boosted its position in Lamar Advertising by 466.7% during the second quarter. True Wealth Design LLC now owns 204 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 168 shares during the period. Tucker Asset Management LLC bought a new stake in shares of Lamar Advertising during the 4th quarter valued at about $25,000. Quent Capital LLC purchased a new stake in shares of Lamar Advertising in the 3rd quarter worth about $26,000. Alpine Bank Wealth Management purchased a new stake in shares of Lamar Advertising in the third quarter worth $27,000. Finally, Ameritas Advisory Services LLC purchased a new position in shares of Lamar Advertising in the second quarter worth $28,000. Hedge funds and other institutional investors own 93.78% of the company’s stock.

About Lamar Advertising

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.