Ultime notizie per Lamar Advertising (NASDAQ:LAMR) Azioni

Lamar Advertising

Lamar Advertising Co is an outdoor advertising company organized as a real estate investment trust for U.S. federal income tax purposes. Lamar's core revenue-generating activity is leasing space for advertising on billboards, buses, shelters, benches, logo plates, and airport terminals through short-term agreements. The company is involved in this process from ad copy production to the placement and maintenance of physical advertisements. The vast majority of Lamar's revenue comes from renting ad space on its portfolio of static and digital roadside billboard displays in the U.S. The states of Pennsylvania and Texas house a proportion of these. The company's customers are restaurant, service, healthcare, and retail firms in terms of total revenue.

Lamar Advertising Company - Class A Common Stock

Lamar Advertising Co

American Tower Corporation&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/amt#NYSE">AMT</a>) extensive and geographically diversified communication real estate portfolio positions it well to ride the growth curve amid rising capital spending by wireless carriers on the incremental demand from global 4G and 5G deployment efforts.
Its expansionary efforts and disciplined capital-allocation strategy augur well for long-term growth. However, customer concentration poses a key concern for the company.
<h2>What&#39;s Aiding AMT Stock?</h2>
With the advancement in mobile technology, such as 4G and 5G networks, and the proliferation of bandwidth-intensive applications, mobile data usage has increased significantly globally. The excessive use of network-intensive applications for video conferencing, cloud services and hybrid-working scenarios is likely to fuel the rise.
This has led to greater capital spending by wireless carriers due to the incremental demand from global 4G and 5G deployment efforts, growing wireless penetration and spectrum auctions, driving demand for AMT&#39;s wireless communication infrastructure. This upbeat trend is likely to continue in the upcoming period, boosting demand for the company&#39;s assets and driving healthy leasing activity.
American Tower has a solid track record of delivering healthy performance due to the robust demand for its global macro-tower-oriented asset base. It has witnessed strong growth in key financial metrics while continuing platform expansion.
In the second quarter of 2024, the company recorded healthy year-over-year organic tenant billings growth of 5.3% and total tenant billings growth of 6.1%. Also, in the second quarter, revenues from the property segment and adjusted EBITDA increased 4.6% and 8.1% on a year-over-year basis, respectively. Between 2013 and 2023, American Tower&#39;s revenues from the property segment and adjusted EBITDA witnessed a CAGR of 12.8% and 12.5%, respectively. Amid secular growth trends in the wireless industry, the healthy performance is expected to continue in 2024 and beyond.
To capitalize on the secular trends of the industry, AMT is consistently focusing on macro-tower investment opportunities and expansionary efforts across global markets. For 2023, the company shelled out approximately $168 million to acquire communications sites, previously subleased sites in the United States and other communications-related infrastructure globally.
<h2>AMT&#39;s Ample Liquidity</h2>
Apart from having a robust operating platform, American Tower has ample liquidity to support its debt servicing. Its consistent adjusted EBITDA margins and revenue growth, as well as favorable return on invested capital, indicate strength in its underlying core business and support its ability to manage its near-term obligations.
As of June 30, 2024, the company had $9.17 billion in total liquidity, and its net leverage ratio was 4.8. In addition, with a weighted average remaining term of debt of 5.8 years, it has decent financial flexibility.
<h2>AMT&#39;s Sustainable Dividend Payouts</h2>
American Tower has a disciplined capital allocation strategy and remains committed to increasing shareholder value through regular dividend hikes. In the last five years, American Tower increased its dividend 17 times, and the annualized dividend growth rate for this period is 12.74%. Moreover, it has a lower dividend payout compared with its industry. Such disbursements highlight its operational strength and commitment to rewarding shareholders handsomely.
Shares of this Zacks Rank #3 (Hold) company have rallied 20.8% in the past six months, outperforming the industry&#39;s growth of 17.6%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/15/79025.jpg?v=1740832763" />
Image Source: Zacks Investment Research
<h2>What&#39;s Affecting AMT Stock?</h2>
American Tower has a high customer concentration, with T-Mobile, AT&amp;T and Verizon Wireless contributing 17%, 16% and 12%, respectively, of its property revenues for 2023. The loss of TMUS, T or Verizon Wireless as customers, consolidation among them or reduction in network spending could adversely impact the company&#39;s top-line growth.
The merger between T-Mobile and Sprint, which closed in April 2020, resulted in tower site overlap for American Tower. During the first half of 2024, the churn was roughly 2% of its tenant billings, mainly driven by the churn in its U.S. &amp; Canada property segment.
Given the contractual lease cancellations and non-renewals by T-Mobile, including legacy Sprint Corporation leases, management expects the churn rate in its U.S. &amp; Canada property segment to remain elevated through 2025.
Although the Federal Reserve has announced a rate cut, the interest rate is still high and is a concern for American Tower. Elevated rates imply a higher borrowing cost for the company, which would affect its ability to purchase or develop real estate. American Tower has a substantial debt burden, and its total debt, as of June 30, 2024, was approximately $38.97 billion.
<h2>Stocks to Consider</h2>
Some better-ranked stocks from the broader REIT sector are Lamar Advertising (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lamr#NASDAQ">LAMR</a>) and Four Corners Property Trust (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fcpt#NYSE">FCPT</a>), each carrying a Zacks Rank #2 (Buy) at present.
The Zacks Consensus Estimate for Lamar&#39;s 2024 FFO per share is pinned at $8.09, suggesting year-over-year growth of 8.3%.
The Zacks Consensus Estimate for Four Corners&#39; 2024 FFO per share stands at $1.73, indicating an increase of 3.6% from the year-ago reported figure.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.
<a href="https://www.zacks.com/stock/news/2340753/here-s-why-you-should-keep-american-tower-in-your-portfolio?cid=CS-BENZ-FT-analyst_blog|zer_report_update-2340753">To read this article on Zacks.com click here.</a>

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LAMR

Here's Why You Should Keep American Tower in Your Portfolio

In the last three months, 5 analysts have published ratings on Lamar Advertising (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAMR#NASDAQ">LAMR</a>), offering a diverse range of perspectives from bullish to bearish.
The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Insights from analysts' 12-month price targets are revealed, presenting an average target of $130.0, a high estimate of $140.00, and a low estimate of $121.00. This current average has increased by 3.17% from the previous average price target of $126.00. 
<img src="https://www.benzinga.com/files/images/story/2024/1726754464_0.png" alt="price target chart" />
<h2>Analyzing Analyst Ratings: A Detailed Breakdown</h2>
An in-depth analysis of recent analyst actions unveils how financial experts perceive Lamar Advertising. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Daniel Osley</td>
<td>Wells Fargo</td>
<td>Announces</td>
<td>Equal-Weight</td>
<td>$132.00</td>
<td>-</td>
</tr>
<tr>
<td>Lance Vitanza</td>
<td>TD Cowen</td>
<td>Raises</td>
<td>Buy</td>
<td>$140.00</td>
<td>$135.00</td>
</tr>
<tr>
<td>Richard Close</td>
<td>JP Morgan</td>
<td>Raises</td>
<td>Neutral</td>
<td>$121.00</td>
<td>$117.00</td>
</tr>
<tr>
<td>Lance Vitanza</td>
<td>TD Cowen</td>
<td>Announces</td>
<td>Buy</td>
<td>$135.00</td>
<td>-</td>
</tr>
<tr>
<td>Jason Bazinet</td>
<td>Citigroup</td>
<td>Announces</td>
<td>Neutral</td>
<td>$122.00</td>
<td>-</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Lamar Advertising. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Gaining insights, analysts provide qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Lamar Advertising compared to the broader market.</li>
<li>Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of Lamar Advertising's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Capture valuable insights into Lamar Advertising's market standing by understanding these analyst evaluations alongside pertinent financial indicators. Stay informed and make strategic decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/LAMR/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Lamar Advertising analyst ratings.</a>
<h2>Unveiling the Story Behind Lamar Advertising</h2>
Lamar Advertising Co is an outdoor advertising company organized as a real estate investment trust for U.S. federal income tax purposes. Lamar's core revenue-generating activity is leasing space for advertising on billboards, buses, shelters, benches, logo plates, and airport terminals through short-term agreements. The company is involved in this process from ad copy production to the placement and maintenance of physical advertisements. The vast majority of Lamar's revenue comes from renting ad space on its portfolio of static and digital roadside billboard displays in the U.S. The states of Pennsylvania and Texas house a proportion of these. The company's customers are restaurant, service, healthcare, and retail firms in terms of total revenue.
<h3>Lamar Advertising's Financial Performance</h3>
Market Capitalization Analysis: Above industry benchmarks, the company's market capitalization emphasizes a noteworthy size, indicative of a strong market presence.
Positive Revenue Trend: Examining Lamar Advertising's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 4.46% as of 30 June, 2024, showcasing a substantial increase in top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Real Estate sector.
Net Margin: Lamar Advertising's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 24.29%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): Lamar Advertising's ROE stands out, surpassing industry averages. With an impressive ROE of 11.54%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): The company's ROA is a standout performer, exceeding industry averages. With an impressive ROA of 2.09%, the company showcases effective utilization of assets.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 3.88.
<h2>The Significance of Analyst Ratings Explained</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

The Analyst Landscape: 5 Takes On Lamar Advertising

Wells Fargo analyst Daniel Osley initiates coverage on Lamar Advertising (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAMR#NASDAQ">LAMR</a>) with a Equal-Weight rating and announces Price Target of $132.

Price Target

Initiation

Wells Fargo Initiates Coverage On Lamar Advertising with Equal-Weight Rating, Announces Price Target of $132

Cousin Properties (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cuz#NYSE">CUZ</a>) recently announced that it has entered into a lease arrangement with a Fortune 100 technology company for around 320,000 square feet of all of its Domain 12 property in Austin, TX.
The said customer is new to Cousins&#39; portfolio and will take up the ongoing lease from Meta Platforms, effective from Jan. 1, 2026, extending its maturity from 2031 to 2040.
Cousins&#39; Domain portfolio, spanning around 2.5 million square feet, is at present more than 99% leased, reflecting the solid demand for space. Delivered in 2020, Domain 12 exists near The Domain&#39;s main dining and entertainment district.
This Cousins lifestyle office property&#39;s offerings of amenities such as cafes, outdoor terraces, a fitness center and bike storage, with direct access to several hiking and bike trails, lead to a wholesome experience for its clients.
As per Colin Connolly, the president and chief executive officer of Cousins Properties, &quot;We are excited that our teams found a creative solution to welcome another global technology innovator to a trophy property in The Domain.&quot; He also asserted, &quot;The Domain provides a highly amenitized experience that leading companies recognize as a critical tool to drive employee recruitment, retention, and culture.&quot;
<h2>Cousins Properties Sees a Recovery in Demand</h2>
Cousins Properties is seeing a recovery in demand for its high-quality, well-placed office properties, as highlighted by a rebound in new leasing volume. For the six months ended June 2024, the company executed 77 leases for a total of 794,240 square feet of office space with a weighted average lease term of 7.8 years. This included 404,011 square feet of new leases, 268,210 square feet of renewal leases and 122,019 square feet of expansion leases.
<img alt="Cousins Properties" src="https://staticx-tuner.zacks.com/images/articles/charts/84/76941.jpg?v=1977785616" />
Image Source: Cousins Properties
Going forward, Cousins Properties&#39; high-quality office portfolio, impressive tenant roster, opportunistic investments and developments in best sub-markets and strong balance sheet are expected to drive its growth. However, a continuation of the hybrid work environment and high supply in the office real estate market is expected to adversely impact its pricing power.
Over the past three months, shares of this Zacks Rank #2 (Buy) company have risen 24.3% compared with the industry&#39;s upside of 16.7%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/70/76937.jpg?v=553016743" />
Image Source: Zacks Investment Research
<h2>Other Stocks to Consider</h2>
Some other top-ranked stocks from the broader REIT sector are Paramount Group (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pgre#NYSE">PGRE</a>) and Lamar Advertising (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lamr#NASDAQ">LAMR</a>), each carrying a Zacks Rank #2 at present.
The Zacks Consensus Estimate for Paramount Group&#39;s 2024 FFO per share has been raised marginally northward over the past three months to 78 cents.
The Zacks consensus estimate for Lamar Advertising&#39;s current-year FFO per share has been revised marginally upward over the past month to $8.09.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.
<a href="https://www.zacks.com/stock/news/2333425/cousins-properties-leases-full-building-at-the-domain-in-austin?cid=CS-BENZ-FT-analyst_blog|company_news_finance_sector-2333425">To read this article on Zacks.com click here.</a>

Penny Stocks

Offerings

Small Cap

PGRE

Cousins Properties Leases Full Building at The Domain in Austin

Shares of&nbsp;Prologis Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pld#NYSE">PLD</a>) have rallied 19% in the past three months, outperforming the&nbsp;industry&#39;s growth of 16.1%.
This industrial real estate investment trust (REIT) targets investments in distribution facilities for customers who are engaged in global trade and depend on the efficient movement of goods through the global supply chain. Apart from having a solid portfolio and gaining from healthy industry fundamentals, PLD stock is benefiting from the narrative surrounding the interest rate cut in the near term.
In July 2024, Prologis reported a second-quarter 2024 core FFO per share of $1.34, outpacing the Zacks Consensus Estimate by a penny. The quarterly results reflected a rise in rental revenues and healthy leasing activity.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/24/76264.jpg?v=451360648" />
Image Source: Zacks Investment Research
<h2>Factors Behind PLD Stock&#39;s Price Surge: Will the Trend Last?</h2>
In a rising e-commerce market, companies are making immense efforts to improve supply-chain efficiencies, propelling demand for logistics infrastructure and efficient distribution networks. Given Prologis&#39; solid capacity to offer modern logistics facilities in some of the busiest distribution markets across the globe, it is well-poised to bank on this trend.
The solid demand for Prologis&#39; strategically located facilities has driven healthy operating performance over the past several quarters. In the second quarter of 2024, 46.6 million square feet of leases commenced in the company&#39;s owned and managed portfolio with an average occupancy level of 96.1%.
Prologis continues to bolster its presence in high-barrier, high-growth markets through strategic acquisitions and development activities. In the second quarter of 2024, the company&#39;s share of building acquisitions amounted to $279 million. Development stabilization aggregated $2.04 billion, with 31.9% being built to suit, while development starts totaled $300 million, with 15.7% being built to suit.
Prologis maintains a healthy balance sheet position with ample flexibility that poises it well to capitalize on long-term growth opportunities. As of June 30, 2024, this industrial REIT had a total available liquidity of $6.45 billion. As of the same date, the company&#39;s weighted average interest rate on its share of the total debt was 3.1%, with a weighted average term of 9.3 years and no significant debt maturities until 2026.
Solid dividend payouts are arguably the biggest enticements for REIT shareholders, and Prologis remains committed to that. In the last five years, Prologis has increased its dividend five times, and its five-year annualized dividend growth rate is 14.31%. Given the company&#39;s solid operating platform, opportunities for growth and decent financial position compared with the industry, this dividend rate is expected to be sustainable over the near term.
<h2>Key Risks for Prologis</h2>
The recovery in the industrial market has continued for a long, and the growth of e-commerce sales is likely to stabilize to some extent in the upcoming quarters. Therefore, any robust performance is unlikely in the near term.
Analysts seem pessimistic about this Zacks Rank #3 (Hold) company. The Zacks Consensus Estimate for its 2024 FFO per share has declined marginally over the past month to $5.42.
<h2>Stocks to Consider</h2>
Some better-ranked stocks from the REIT sector are&nbsp;Cousins Properties (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cuz#NYSE">CUZ</a>) and&nbsp;Lamar Advertising (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lamr#NASDAQ">LAMR</a>), each carrying a Zacks Rank of 2 (Buy) at present.
The Zacks Consensus Estimate for Cousins Properties&#39; 2024 FFO per share has moved marginally northward over the past two months to $2.66.
The Zacks Consensus Estimate for Lamar Advertising&#39;s 2024 FFO per share has increased marginally over the past week to $8.09.
Note:&nbsp;Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.
<a href="https://www.zacks.com/stock/news/2330447/prologis-up-19-in-three-months-will-it-continue-to-rise?cid=CS-BENZ-FT-analyst_blog|price_surge_/_plunge-2330447">To read this article on Zacks.com click here.</a>

Prologis Up 19% in Three Months: Will It Continue to Rise?

EastGroup Properties (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/egp#NYSE">EGP</a>) announced a hike of 10.2% in its quarterly dividend, raising it to $1.40 per share from $1.27 paid earlier. The increased dividend will be paid out on Oct. 15 to shareholders on record as of Sep. 30, 2024.
Based on the increase, the annual dividend rate now comes to $5.60 a share, resulting in an annualized yield of 2.99%, considering EastGroup&#39;s closing price of $187 on Aug. 26.
Solid dividend payouts remain the biggest enticements for REIT investors, and EastGroup Properties is committed to boosting shareholder wealth. The company has hiked its dividend in each of the last 13 years. The recent dividend hike marks its 179th consecutive quarterly distribution to shareholders. Further, EGP increased or maintained its dividend for 32 consecutive years and hiked it for 29 years during this period.
In the last five years, EastGroup has increased its dividend seven times, and the annualized dividend growth rate for this period is 15.88%. This is attractive to income investors and represents a steady income stream.
<h2>EGP&#39;s Stock Fundamentals &amp; Financial Performance</h2>
This industrial REIT focuses on the development, acquisition and operation of industrial properties in major Sunbelt markets throughout the United States. With its focus on the ownership of premier distribution facilities usually clustered near major transportation features in supply-constrained submarkets, EastGroup has a well-leased industrial portfolio.
The company&#39;s operating portfolio was 97.4% leased and 97.1% occupied as of June 30, 2024. Also, the average occupancy of the operating portfolio was 97.0% for the second quarter of 2024.
EastGroup has a decent earnings performance. It beat the Zacks Consensus Estimate in two of the trailing four quarters, matched on one occasion and missed on the remaining quarter on funds from operations (FFO) per share basis, the average surprise being 0.14%. Over the next five years, the company&#39;s FFO per share is projected to grow at a rate of 8.0%.
This industrial REIT churns a cash flow of $8.02 per share compared with the industry&#39;s average of $1.69. Moreover, EastGroup Properties&#39; return on equity (&quot;ROE&quot;) is 8.69%, significantly higher than the industry&#39;s ROE of 3.26%.
<h2>Industrial REIT Outlook</h2>
Amid an e-commerce boom, companies are making efforts to improve supply-chain efficiencies, propelling demand for logistics infrastructure and efficient distribution networks. This is aiding the industrial real estate market to prosper.
Apart from the fast adoption of e-commerce, industrial real estate space is anticipated to gain traction over the long run from a likely rise in the inventory levels. Given EGP&#39;s solid capacity to offer modern logistics facilities, it is well-poised to bank on this trend.
<h2>EGP&#39;s Conclusion</h2>
Particularly for EastGroup, we believe such distribution activity highlights the company&#39;s operational strength and commitment to rewarding its shareholders handsomely.
The latest hike reflects EastGroup&#39;s high-quality portfolio and its ability to generate solid cash flow growth through its operating platform.
Investors are always on the lookout for companies with a track record of consistent and incremental dividend payments to put their money on. Such moves will boost investors&#39; confidence in the stock.
Over the past three months, shares of this Zacks Rank #3 (Hold) company have rallied 17.3% compared with the industry&#39;s growth of 19.2%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/eb/75601.jpg?v=55315687" /> 
Image Source: Zacks Investment Research
<h2>Stocks to Consider</h2>
Some better-ranked stocks from the broader REIT sector are Cousins Properties (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cuz#NYSE">CUZ</a>) and Lamar Advertising (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lamr#NASDAQ">LAMR</a>), each carrying a Zacks Rank #2 (Buy).
The Zacks Consensus Estimate for Cousins Properties&#39; 2024 FFO per share has moved marginally northward over the past month to $2.66.
The Zacks Consensus Estimate for Lamar Advertising&#39;s current-year FFO per share has been marginally raised over the past month to $8.09.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.
<a href="https://www.zacks.com/stock/news/2327882/eastgroup-announces-a-10-2-dividend-hike-is-this-hike-sustainable?cid=CS-BENZ-FT-analyst_blog|company_news_finance_sector-2327882">To read this article on Zacks.com click here.</a>

Earnings

EastGroup Announces a 10.2% Dividend Hike: Is This Hike Sustainable?

Shares of OUTFRONT Media (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/out#NYSE">OUT</a>) have soared 16.4% year to date compared with the industry&#39;s growth of 3.2%.
This New York-based advertising real estate investment trust&#39;s (REIT) diverse portfolio of advertising sites and large-scale presence, efforts to bolster its digital presence and strategic acquisitions over the years have enabled it to ride the growth curve so far.
This month, the company reported better-than-expected second-quarter 2024 results. It reported adjusted funds from operations (AFFO) per share of 49 cents, which surpassed the Zacks Consensus Estimate of 46 cents. The figure increased 4.3% on a year-over-year basis. Results reflected lower operating expenses due to lower property lease costs. It also witnessed higher average revenue per display across its portfolio.
Analysts seem bullish about this Zacks Rank #3 (Hold) company. The Zacks Consensus Estimate for its 2024 funds from operations (FFO) per share has revised 6.9% upward over the past month to $1.70.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/54/74941.jpg?v=613035185" />
Image Source: Zacks Investment Research
Let us now find out the factors behind the surge in the stock price and check whether this trend will last.
OUTFRONT Media enjoys a geographically diverse portfolio of advertising sites, with a presence across the largest markets in the United States. The company&#39;s large-scale presence paves the way for its clients to reach a national audience and provides the flexibility to tailor campaigns to specific regions or markets. This OOH advertising company provides communication and advertising services to several transit authorities.
The company caters to various industries, including professional services, healthcare/pharmaceuticals and retail. Hence, its large-scale presence and diversified portfolio with respect to geography and industry make its revenues less volatile.
OUTFRONT Media is making efforts to convert its business from traditional static billboard advertising to digital displays. This has helped the company expand the number of new advertising relationships, providing scope to boost its digital revenues.
In the six months ended Jun 30, 2024, the company built or converted 46 new digital billboard displays in the United States. Moreover, it built, converted or replaced 4,316 digital transit and other displays in the United States in the same period. Such efforts are likely to pay off well in the upcoming period, poising it well for growth.
The company has also made strategic investments in its digital billboard portfolio over the years and these investments have started reaping benefits. Its total digital billboard displays reached 1,906 at the end of the second quarter of 2024.
The company is leveraging out-of-home (OOH) advertising, which has a lower cost compared with other forms of media, to drive its performance. In the upcoming years, higher technology investments are expected to provide further support to OOH advertising. Capitalizing on this, the company is expanding its footprint and providing unique technology platforms to marketers in order to tap growth opportunities.
OUTFRONT Media is also focused on enhancing its portfolio quality via strategic acquisitions.&nbsp; In the six months ended Jun 30, 2024, the company acquired several assets for approximately $7.6 million. In 2023, it acquired several assets for around $33.7 million. With such expansion efforts, it remains well-poised to grow over the long term.
<h3>Stocks to Consider</h3>
Some better-ranked stocks from the broader REIT sector are Cousins Properties (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cuz#NYSE">CUZ</a>) and Lamar Advertising (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lamr#NASDAQ">LAMR</a>), each carrying a Zacks Rank #2 (Buy) at present.
The Zacks Consensus Estimate for Cousins Properties&#39; 2024 FFO per share is pinned at $2.66, suggesting year-over-year growth of 1.5%.
The Zacks Consensus Estimate for Lamar Advertising&#39;s 2024 FFO per share stands at $8.09, indicating an increase of 8.3% from the year-ago reported figure.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO), a widely used metric to gauge the performance of REITs.
<a href="https://www.zacks.com/stock/news/2325265/outfront-media-out-soars-16-4-ytd-will-the-trend-last?cid=CS-BENZ-FT-analyst_blog|price_surge_/_plunge-2325265">To read this article on Zacks.com click here.</a>

Media

OUTFRONT Media Soars 16.4% YTD: Will the Trend Last?

Lamar Advertising's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAMR#NYSE">LAMR</a>) short percent of float has fallen 9.42% since its last report. The company recently reported that it has 2.22 million shares sold short, which is 2.98% of all regular shares that are available for trading. Based on its trading volume, it would take traders 5.41 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Lamar Advertising Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1724185810_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Lamar Advertising has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Lamar Advertising's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Lamar Advertising's peer group average for short interest as a percentage of float is 5.98%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

Peering Into Lamar Advertising's Recent Short Interest

Shares of Lamar Advertising (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lamr#NASDAQ">LAMR</a>) have risen 12.6% year to date against its industry&#39;s increase of 3.3%. The company currently carries a Zacks Rank #2 (Buy).
Earlier this month, this real estate investment trust (REIT), headquartered in Baton Rouge, LA, reported second-quarter 2024 adjusted funds from operations (AFFO) per share of $2.08, which beat the Zacks Consensus Estimate of $2.07. The figure also compared favorably with the prior-year quarter&#39;s tally of $1.90. Results reflected year-over-year growth in the top line, driven by the continued strong demand from local and regional advertisers.
Per the company&#39;s chief executive, Sean Reilly, &quot;The revenue gain, combined with continued discipline on expenses, allowed us to produce adjusted EBITDA growth of nearly 7% and diluted AFFO per share growth of 9.5%. Also, we continue to pace at the top end of our previously provided guidance of $7.75 to $7.90 for full year diluted AFFO per share.&quot;
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/61/74767.jpg?v=438511843" />
Image Source: Zacks Investment Research
Let us decipher the factors behind the surge in the stock price and check whether this trend will last or not..
Lamar is one of the largest owners and operators of outdoor advertising structures in the United States. It enjoys an impressive national footprint and holds a leading position as a provider of logo signs in the United States. It enjoys a diversified tenant base, comprising tenants from the services, health care, restaurants, retailers, automotive, insurance and gaming categories.
Lamar also sources a significant part of its revenues from local businesses with a diversified base of tenants. This generally leads to less volatility in revenues. In the second quarter of 2024, local and regional sales accounted for 79% of the company&#39;s billboard revenues. Moreover, local and regional sales reported growth for the 13th consecutive quarter.
Over the recent years, the company has made concerted efforts to upgrade its portfolio, increasing occupancy in its existing advertising displays and enabling it to enjoy a significant market share in the U.S. outdoor advertising business. The company&#39;s increased focus on bolstering its digital capabilities augurs well for long-term growth. Lamar&#39;s digital revenues account for around 30% of its billboard billings.
Given the technological advancements and low-cost nature of out-of-home (OOH) advertising, it has been gaining traction in recent years. Therefore, Lamar&#39;s strategic acquisitions of outdoor advertising assets in its existing and new markets have been fruitful.
It completed 36 acquisitions for a total purchase price of $139 million in 2023 and 73 acquisitions of outdoor advertising assets for $479.8 million in 2024. During the first half of 2024, the company completed multiple acquisitions for a total cash purchase price of around $28.2 million. With such expansion efforts, it is poised to ride the growth curve.
On the balance sheet front, as of Jun 30, 2024, Lamar Advertising had a total liquidity of $744.3 million. Lamar has enjoyed historical cash flow growth of 8.25% compared with 2.57% of the industry. Moreover, this REIT&#39;s trailing 12-month return on equity (ROE) highlights its growth potential. Lamar&#39;s ROE is 42.18% compared with the industry&#39;s average of 3.26%. This reflects that the company reinvests more efficiently compared with the industry.
Solid dividend payouts remain the biggest attraction for REIT investors, and Lamar has been committed to the same. In the last five years, the company has raised its dividend seven times. Its five-year annualized dividend growth rate is 16.50%, which is encouraging. Such efforts raise investors&#39; optimism about the stock.
However, expected choppiness in the national business in the near term and a high interest rate environment raise concerns.
<h3>Other Stocks to Consider</h3>
Some other top-ranked stocks from the REIT sector are Cousins Properties Incorporated and Terreno Realty Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/trno#NYSE">TRNO</a>), each carrying a Zacks Rank #2 at present.
The Zacks Consensus Estimate for Cousins Properties&#39; ongoing-year FFO per share has increased marginally over the past month to $2.66.
The Zacks Consensus Estimate for Terreno Realty&#39;s 2024 FFO per share has moved marginally northward in the past month to $2.29.
Note: Anything related to earnings presented in this write-up represents FFO &mdash; a widely used metric to gauge the performance of REITs.
<a href="https://www.zacks.com/stock/news/2324499/lamar-advertising-s-lamr-stock-gains-12-6-ytd-here-s-why?cid=CS-BENZ-FT-analyst_blog|price_surge_/_plunge-2324499">To read this article on Zacks.com click here.</a>

Earnings Beats

Guidance

TRNO

Lamar Advertising's Stock Gains 12.6% YTD: Here's Why

Gladstone Commercial Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/good#NASDAQ">GOOD</a>) recently sold its two medical office properties in the Atlanta MSA at a cap rate of 5.97%. The properties, which were leased to Northside Hospital, encompassed 26,331 square feet of space.
GOOD shares were up marginally in Friday&#39;s regular trading session on the Nasdaq.
The REIT realized a leveraged internal rate of return of around 13.2% on the properties, which were acquired as part of an eight-property portfolio transaction in 2007. The move comes as part of Gladstone Commercial&#39;s capital recycling efforts, allowing the company to redeploy capital into industrial real estate.
Per Buzz Cooper, the president of Gladstone Commercial, &quot;This sale is a strong outcome for the legacy portfolio and reinforces our overall migration to the industrial sector.&quot;
GOOD is focused on expanding on the buyouts of high-quality industrial assets in strong growth corridors leased to tenants with solid credit profiles. In line with this, in May, Gladstone Commercial acquired a 142,125-square-foot industrial manufacturing, distribution and service facility located on 115 acres in Warfordsburg, PA, for $11.7 million at a GAAP capitalization rate of 12.3%.
Gladstone Commercial also collected 100% of cash rents during April, May and June, underscoring the robustness of its tenant base. The strong occupancy rate of 98.5% as of Jun 30, 2024 is a testament to the trust tenants place in the company&#39;s properties and management.
Given the strong demand for industrial real estate, the maximization of value through non-core asset dispositions and the redeploying of proceeds for the selective re-positioning of GOOD&#39;s portfolio with a more industrial focus augur well for its long-term growth.
Gladstone Commercial currently carries a Zacks Rank #2 (Buy). The stock has rallied 19.1%, outperforming the industry&#39;s growth of 10.3% in the past six months.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/bd/74022.jpg?v=1830761304" />
Image Source: Zacks Investment Research
<h3>Other Stocks to Consider</h3>
Some other top-ranked stocks from the REIT sector are Lamar Advertising (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lamr#NASDAQ">LAMR</a>) and Crown Castle Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cci#NYSE">CCI</a>), each carrying a Zacks Rank #2 at present.
The Zacks Consensus Estimate for Lamar Advertising&#39;s 2024 FFO per share has moved marginally northward in the past month to $8.08.
The Zacks Consensus Estimate for Crown Castle&#39;s ongoing year&#39;s FFO per share has increased marginally over the past month to $6.97.
Note: Anything related to earnings presented in this write-up represents funds from operations (FFO) &mdash; a widely used metric to gauge the performance of REITs.
<a href="https://www.zacks.com/stock/news/2320760/gladstone-commercial-good-sells-georgia-medical-office-assets?cid=CS-BENZ-FT-analyst_blog|company_news_finance_sector-2320760">To read this article on Zacks.com click here.</a>

GOOD

Gladstone Commercial Sells Georgia Medical Office Assets

TD Cowen analyst Lance Vitanza maintains Lamar Advertising (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAMR#NASDAQ">LAMR</a>) with a Buy and raises the price target from $135 to $140.

TD Cowen Maintains Buy on Lamar Advertising, Raises Price Target to $140

Lamar Advertising Says Continues To Place At Top End Of Guidance Range Of $7.75-$7.90 For FY AFFO Per Share

Lamar Advertising (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAMR#NASDAQ">LAMR</a>) reported quarterly earnings of $2.08 per share which beat the analyst consensus estimate of $2.05 by 1.46 percent. The company reported quarterly sales of $565.300 million which beat the analyst consensus estimate of $564.364 million by 0.17 percent. This is a 4.47 percent increase over sales of $541.137 million the same period last year.

Lamar Advertising Q2 2024 AFFO $2.08 Beats $2.05 Estimate, Sales $565.300M Beat $564.364M Estimate

Lamar Advertising's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAMR#NYSE">LAMR</a>) short percent of float has fallen 8.36% since its last report. The company recently reported that it has 2.44 million shares sold short, which is 3.29% of all regular shares that are available for trading. Based on its trading volume, it would take traders 7.22 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Lamar Advertising Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1722606310_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Lamar Advertising has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Lamar Advertising's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Lamar Advertising's peer group average for short interest as a percentage of float is 6.00%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

How Is The Market Feeling About Lamar Advertising?

JP Morgan analyst Richard Close maintains Lamar Advertising (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAMR#NASDAQ">LAMR</a>) with a Neutral and raises the price target from $117 to $121.

JP Morgan Maintains Neutral on Lamar Advertising, Raises Price Target to $121

TD Cowen analyst Lance Vitanza initiates coverage on Lamar Advertising (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAMR#NASDAQ">LAMR</a>) with a Buy rating and announces Price Target of $135.

TD Cowen Initiates Coverage On Lamar Advertising with Buy Rating, Announces Price Target of $135

Citigroup analyst Jason Bazinet downgrades Lamar Advertising (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAMR#NASDAQ">LAMR</a>) from Buy to Neutral and announces $122 price target.

Downgrades

Citigroup Downgrades Lamar Advertising to Neutral, Announces $122 Price Target

WIIM

Shares of REIT stocks are trading higher amid a drop in Treasury yields following soft May CPI figures.

Lamar Advertising Sees FY24 EPS Of $4.95- $5.01 Vs. $5.22 Est.

Lamar Advertising (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAMR#NASDAQ">LAMR</a>) reported quarterly earnings of $0.76 per share which missed the analyst consensus estimate of $0.81 by 6.17 percent. This is a 2.7 percent increase over earnings of $0.74 per share from the same period last year. The company reported quarterly sales of $498.15 million which beat the analyst consensus estimate of $490.85 million by 1.49 percent. This is a 5.69 percent increase over sales of $471.33 million the same period last year.

Earnings Misses

Lamar Advertising Q1 EPS $0.76 Misses $0.81 Estimate, Sales $498.15M Beat $490.85M Estimate

Wells Fargo starts Lamar Advertising with and cuts Clear Channel to 'equal weight'

Lamar Advertising Co. (LAMR​​​​​​​) is one of the largest outdoor advertising Real Estate Investing Trusts (REITs) worldwide, with more than 363,000 displays across 45 US states and Canada.

LAMR: An Outdoor Ad REIT Spinning Off Attractive Income, Returns

Fed Goes Big

Janus Henderson Mid Cap Value Fund Q2 2024 Commentary

Janus Henderson Mid Cap Value Managed Account Q2 2024 Commentary

Janus Henderson Small-Mid Cap Value Fund Q2 2024 Commentary

'Buy this; sell that' within each sector – Oppenheimer

Lamar Advertising: Solid Fundamentals Are Increasingly In The Price (Rating Downgrade)

In a report released yesterday, Daniel Osley from Wells Fargo maintained a Hold rating on Lamar Advertising (LAMR – Research Report), with a price ...

Lamar Advertising (LAMR) Gets a Hold from Wells Fargo

Oppenheimer's one buy vs. one sell idea from each SMID sector

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Press Releases

Lamar Advertising Company Announces Fourth Quarter and Year Ended December 31, 2023 Operating Results

Lamar Advertising Company to Release First Quarter Ended March 31, 2024 Operating Results

Contracts

Lamar Advertising Company Selects Vistar Media to Power its US Digital Out-of-Home Billboard Network

Lamar Advertising Company Announces  First Quarter Ended March 31, 2024 Operating Results

Lamar Advertising to appear at the 52nd Annual J.P. Morgan Global Technology, Media and Communications Conference

Lamar Advertising Company Announces Cash Dividend on Common Stock

Lamar Advertising Company to Release Second Quarter Ended June 30, 2024 Operating Results

Lamar Advertising Company Announces Second Quarter Ended June 30, 2024 Operating Results

Lamar Advertising Company to Release Third Quarter Ended September 30, 2024 Operating Results

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