Kingswood Wealth Advisors LLC Invests $12 Million in Lamar Advertising Company $LAMR

Kingswood Wealth Advisors LLC acquired a new stake in shares of Lamar Advertising Company (NASDAQ:LAMR) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 98,054 shares of the real estate investment trust’s stock, valued at approximately $12,004,000. Lamar Advertising accounts for 0.7% of Kingswood Wealth Advisors LLC’s portfolio, making the stock its 22nd biggest position.

Other institutional investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada increased its position in shares of Lamar Advertising by 1.6% during the 1st quarter. Royal Bank of Canada now owns 140,481 shares of the real estate investment trust’s stock valued at $15,984,000 after purchasing an additional 2,244 shares during the period. Alliancebernstein L.P. boosted its stake in Lamar Advertising by 29.4% during the first quarter. Alliancebernstein L.P. now owns 160,055 shares of the real estate investment trust’s stock valued at $18,211,000 after buying an additional 36,366 shares in the last quarter. Millennium Management LLC grew its holdings in Lamar Advertising by 158.6% during 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 period. Dynamic Technology Lab Private Ltd bought a new stake in Lamar Advertising in the first quarter worth about $462,000. Finally, Fred Alger Management LLC lifted its holdings in Lamar Advertising by 12.0% in the 1st quarter. Fred Alger Management LLC now owns 34,588 shares of the real estate investment trust’s stock valued at $3,935,000 after acquiring an additional 3,700 shares during the last quarter. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Lamar Advertising Stock Performance

Lamar Advertising stock opened at $127.19 on Thursday. The firm’s 50 day simple moving average is $127.53 and its 200-day simple moving average is $124.66. The company has a market cap of $12.88 billion, a P/E ratio of 29.86 and a beta of 1.23. The company has a debt-to-equity ratio of 3.04, a current ratio of 0.59 and a quick ratio of 0.59. Lamar Advertising Company has a fifty-two week low of $99.84 and a fifty-two week high of $134.63.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Thursday, November 6th. The real estate investment trust reported $2.20 EPS for the quarter, beating the consensus estimate of $2.14 by $0.06. Lamar Advertising had a net margin of 19.27% and a return on equity of 43.02%. The business had revenue of $585.54 million during the quarter, compared to the consensus estimate of $584.00 million. As a group, equities research analysts predict that Lamar Advertising Company will post 7.92 EPS for the current year.

Lamar Advertising Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd were issued a dividend of $1.55 per share. The ex-dividend date was Monday, December 22nd. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.9%. Lamar Advertising’s payout ratio is currently 145.54%.

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.