Rhumbline Advisers Trims Holdings in Lamar Advertising Company $LAMR

Rhumbline Advisers reduced its holdings in shares of Lamar Advertising Company (NASDAQ:LAMR) by 3.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 273,651 shares of the real estate investment trust’s stock after selling 9,415 shares during the period. Rhumbline Advisers owned 0.27% of Lamar Advertising worth $33,500,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Berkshire Hathaway Inc bought a new position in shares of Lamar Advertising during the second quarter valued at approximately $141,931,000. Norges Bank purchased a new stake in shares of Lamar Advertising in the 2nd quarter worth approximately $116,240,000. AQR Capital Management LLC increased its position in Lamar Advertising by 123.8% during the 2nd quarter. AQR Capital Management LLC now owns 1,475,525 shares of the real estate investment trust’s stock valued at $177,152,000 after buying an additional 816,217 shares in the last quarter. Geode Capital Management LLC increased its position in Lamar Advertising by 27.8% during the 2nd quarter. Geode Capital Management LLC now owns 2,344,637 shares of the real estate investment trust’s stock valued at $284,577,000 after buying an additional 510,025 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in Lamar Advertising by 22.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,064,441 shares of the real estate investment trust’s stock valued at $130,309,000 after buying an additional 197,175 shares during the last quarter. Institutional investors own 93.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Morgan Stanley set a $140.00 target price on Lamar Advertising in a research note on Tuesday, December 16th. Weiss Ratings reissued a “hold (c+)” rating on shares of Lamar Advertising in a research report on Monday, December 29th. 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 note on Wednesday, November 12th. Finally, Citigroup upped their target price on shares of Lamar Advertising from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $133.00.

Lamar Advertising Trading Up 0.4%

NASDAQ:LAMR opened at $131.79 on Friday. The company has a market cap of $13.35 billion, a PE ratio of 30.94 and a beta of 1.23. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 3.04. The company has a 50 day simple moving average of $128.99 and a two-hundred day simple moving average of $125.88. Lamar Advertising Company has a 12 month low of $99.84 and a 12 month high of $136.69.

Lamar Advertising Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd were given a dividend of $1.55 per share. The ex-dividend date of this dividend was Monday, December 22nd. This represents a $6.20 annualized dividend and a dividend yield of 4.7%. Lamar Advertising’s dividend payout ratio is presently 145.54%.

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.