Glenmede Trust Co. NA Acquires 52,385 Shares of Lamar Advertising Company $LAMR

Glenmede Trust Co. NA lifted its holdings in shares of Lamar Advertising Company (NASDAQ:LAMR) by 1,987.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,021 shares of the real estate investment trust’s stock after acquiring an additional 52,385 shares during the quarter. Glenmede Trust Co. NA’s holdings in Lamar Advertising were worth $6,969,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Boston Partners boosted its position in Lamar Advertising by 2.0% in the third quarter. Boston Partners now owns 2,384,715 shares of the real estate investment trust’s stock worth $291,928,000 after purchasing an additional 46,361 shares during the last quarter. Geode Capital Management LLC grew its stake in Lamar Advertising by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 2,382,137 shares of the real estate investment trust’s stock valued at $301,573,000 after purchasing an additional 32,542 shares during the period. Wellington Management Group LLP increased its position in shares of Lamar Advertising by 3.3% during the 4th quarter. Wellington Management Group LLP now owns 2,027,080 shares of the real estate investment trust’s stock valued at $256,588,000 after purchasing an additional 64,824 shares during the last quarter. Northern Trust Corp increased its position in shares of Lamar Advertising by 23.9% during the 3rd quarter. Northern Trust Corp now owns 1,629,554 shares of the real estate investment trust’s stock valued at $199,490,000 after purchasing an additional 314,235 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Lamar Advertising by 7.6% during the 3rd quarter. AQR Capital Management LLC now owns 1,587,887 shares of the real estate investment trust’s stock worth $193,166,000 after purchasing an additional 112,362 shares during the period. 93.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Morgan Stanley set a $145.00 price target on shares of Lamar Advertising in a report on Thursday, May 7th. TD Cowen raised their price objective on shares of Lamar Advertising from $150.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Citigroup lowered shares of Lamar Advertising from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $145.00 to $160.00 in a research report on Friday, July 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of Lamar Advertising in a research note on Friday, May 22nd. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $153.00 target price on shares of Lamar Advertising in a research note on Wednesday, July 22nd. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $154.67.

Lamar Advertising Stock Performance

NASDAQ:LAMR opened at $157.61 on Tuesday. The company has a debt-to-equity ratio of 3.33, a current ratio of 0.58 and a quick ratio of 0.58. The business has a fifty day simple moving average of $155.71 and a two-hundred day simple moving average of $142.13. Lamar Advertising Company has a 1 year low of $113.66 and a 1 year high of $166.33. The company has a market capitalization of $15.99 billion, a P/E ratio of 29.08 and a beta of 1.19.

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

Lamar Advertising Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Tuesday, June 16th. Lamar Advertising’s payout ratio is currently 118.08%.

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.