Core Insights - Lamar Advertising Company (NASDAQ:LAMR) is recognized as one of Goldman Sachs' top REIT stock picks, indicating strong market confidence in the company's performance and potential [1][7] - The company has recently acquired Cleveland Outdoor Advertising assets, which includes 31 high-profile bulletin faces and 40 junior bulletin faces, enhancing its portfolio in the Cleveland area [1][2] - The acquisition is expected to strengthen Lamar's competitive advantage in the outdoor advertising industry, reflecting a strategic move to expand its market presence [2] Company Overview - Lamar Advertising operates as a Real Estate Investment Trust (REIT) specializing in out-of-home (OOH) advertising, leasing land from over 60,000 partners for billboard placements and managing a vast network of digital displays [4] - The company is involved in site acquisition, zoning, and permitting for advertising structures, showcasing its comprehensive approach to the outdoor advertising business [4] Market Position - Cleveland Outdoor Advertising, founded 47 years ago, has established numerous premium locations in the Cleveland area, which will now be part of Lamar's portfolio, further solidifying its market position [2] - Morgan Stanley has raised its price target on Lamar Advertising to $140 from $135, maintaining an Equal Weight rating, which reflects a positive outlook on the company's future performance in the advertising sector [3]

Core Insights - Lamar Advertising (LAMR) has acquired the assets of Cleveland Outdoor Advertising for cash, enhancing its portfolio in the Cleveland area [1] - The acquisition includes 31 high-profile bulletin faces and over 40 junior bulletin faces, indicating a significant expansion of Lamar's advertising capabilities [1] - Cleveland Outdoor Advertising, founded 47 years ago, has established a strong presence in the market, and the founders have expressed trust in Lamar to continue their legacy [1] Company Summary - The transaction strengthens Lamar's position in the outdoor advertising industry by adding premium locations in a key metropolitan area [1] - The founders of Cleveland Outdoor Advertising, Debra Abdalian-Thompson and Stephen Thompson, are recognized as pioneers in the out-of-home (OOH) advertising sector [1] - Ross Reilly, president of Lamar's outdoor division, emphasized the honor of building upon the foundation laid by the founders of COA [1]

Core Viewpoint - Lamar Advertising Company has acquired the assets of Cleveland Outdoor Advertising, enhancing its portfolio in the Cleveland area with additional high-profile and junior bulletin faces [1][2]. Group 1: Acquisition Details - The acquisition includes 31 high-profile bulletin faces and over 40 junior bulletin faces, significantly expanding Lamar's advertising presence in Cleveland [1]. - Cleveland Outdoor Advertising (COA) was established 47 years ago and has developed numerous premium bulletin locations in the Cleveland metro area [2]. Group 2: Leadership and Legacy - Debra Abdalian-Thompson, co-founder of COA, is recognized as a pioneer in the out-of-home (OOH) advertising industry and has served as a director of the Out of Home Advertising Association of America (OAAA) [3]. - Abdalian-Thompson expressed gratitude for the support received throughout her career and highlighted her admiration for Lamar, indicating confidence in the company's ability to uphold COA's legacy [4].

Core Viewpoint - Lamar Advertising Company announced year-end federal income tax reporting information for its 2025 distributions on Class A and Class B common stock [1] Distribution Summary - The table provides a summary of distributions paid to holders of Lamar Common Stock for the calendar year ended December 31, 2025, presented on a per share basis [2] - Stockholders are advised to consult with tax advisors regarding the specific tax treatment of Lamar's 2025 distributions [2] Distribution Details - For the distribution on March 14, 2025, the cash distribution per share was $1.5500, with an ordinary taxable dividend of $1.5500, a qualified taxable dividend of $0.2415, a Sec. 199A dividend of $1.3085, and no return of capital [3] - For the distribution on June 16, 2025, the figures were identical to those of March 14, 2025 [3] - For the distribution on September 19, 2025, the cash distribution per share remained $1.5500, with the same breakdown as previous distributions [3] - For the distribution on December 22, 2025, the cash distribution per share increased to $1.8000, with an ordinary taxable dividend of $1.8000, a qualified taxable dividend of $0.2805, a Sec. 199A dividend of $1.5195, and no return of capital [3] Company Overview - Lamar Advertising Company, founded in 1902, is one of the largest outdoor advertising companies in North America, operating over 362,000 displays across the United States and Canada [5] - The company offers a variety of advertising formats, including billboard, interstate logo, transit, and airport advertising, catering to both local businesses and national brands [5] - Lamar also boasts the largest network of digital billboards in the United States, with over 5,400 displays [5]

Core Viewpoint - Lamar Advertising Company is set to release its fourth quarter earnings report for the period ending December 31, 2025, on February 20, 2026, before market opening [1] Group 1: Earnings Report Details - The earnings report will be available before the market opens on February 20, 2026 [1] - A conference call will be hosted by the company on the same day at 8:00 a.m. Central time to discuss the results and answer questions [1] Group 2: Conference Call Information - Callers can join the conference call by dialing 1-800-420-1271 or 1-785-424-1634 [1] - Additional contact information includes Buster Kantrow, Director of Investor Relations, reachable at (225) 926-1000 or via email at bkantrow@lamar.com [2] - The live webcast and replay of the conference call will be available at ir.lamar.com [2]

Core Insights - Lamar Advertising Company (LAMR) has established itself as a consistent player in the out-of-home advertising sector, maintaining strong performance amidst a mixed advertising market [1] - The company is well-positioned for future growth, with a focus on local businesses and national brands [1] Financial Performance - The Zacks Consensus Estimate for funds from operations per share for 2025 and 2026 has increased to $8.19 and $8.83, indicating year-over-year growth of 2.50% and 7.81% respectively [2] - Over the past three months, LAMR shares have increased by 7.3%, contrasting with a 0.9% decline in the industry [2] Revenue Composition - Local and regional advertisers contributed approximately 78% of billboard revenues, marking 18 consecutive quarters of growth in this segment [5] - Digital billboards have become a significant revenue driver, growing by 5% and now accounting for about 31% of total billboard revenues [6] Operational Strength - Lamar operates over 5,400 digital billboard faces across 155 markets, with same-board digital revenues increasing by 3.4% [6] - The company has a conservative balance sheet, ending the third quarter with net debt at about 3x EBITDA and total liquidity near $834 million [7] Growth Strategy - Lamar is actively pursuing acquisitions to enhance its market presence, with plans to deploy close to $300 million on acquisitions in 2025 [8] - The company has an estimated investment capacity of over $1 billion while maintaining leverage targets [9] Dividend Policy - Lamar has consistently raised its dividend, with a five-year annualized growth rate of 13.94%, attracting income-focused investors [10] - A special dividend was declared in December 2025, further enhancing investor confidence [10] Overall Assessment - Lamar combines stable demand, increasing digital exposure, a strong balance sheet, and reliable income, making it a compelling option for investors seeking a resilient REIT [11]

Core Insights - Heartland Advisors' "Heartland Value Plus Fund" reported a decline of 0.10% in Q4 2025, underperforming the Russell 2000® Value Index, which gained 3.26% [1] - The fund identified opportunities in overlooked firms expected to achieve high earnings growth in 2026, despite a pullback in the AI sector due to overinvestment concerns [1] - Stock selection in Information Technology and Real Estate positively impacted performance, while negative effects were noted in Health Care, Industrials, and Energy sectors [1] Company Highlights - Lamar Advertising Company (NASDAQ:LAMR) emerged as a significant contributor to the fund's performance in Q4 2025, with a one-month return of 0.90% and a 52-week gain of 8.53% [2] - As of January 12, 2026, Lamar Advertising's stock closed at $129.60 per share, with a market capitalization of $13.126 billion [2] - The company, operating as a real estate investment trust, had previously underperformed but showed a solid Q3 report and favorable outlook, leading to a stock rally [3]

Core Insights - Lamar Advertising (LAMR) shares have increased by 8.8% over the past three months, significantly outperforming the outdoor advertising industry's growth of 1.4% [1][7] - The company holds a substantial market share in the U.S. outdoor advertising sector, supported by a diversified tenant base and strategic acquisitions [3][8] Company Performance - Analysts have a positive outlook on Lamar, with the Zacks Consensus Estimate for its 2025 FFO per share rising to $8.19 and the 2026 estimate increasing by 1% to $8.83 [2] - Lamar's revenue is bolstered by a well-diversified tenant mix, which includes sectors such as services, healthcare, and retail, helping to mitigate revenue volatility [3] Growth Drivers - The company's focus on enhancing its digital capabilities is expected to drive long-term growth, with over 5,400 digital billboards in operation as of Q3 2025 [4][7] - The Out of Home (OOH) advertising sector is experiencing rapid growth, with technological advancements and increased investments expected to further support this trend [5] Expansion Activities - In 2025, Lamar completed over 30 acquisitions totaling approximately $133.9 million, which is indicative of its aggressive expansion strategy [5][7] Competitive Advantage - The outdoor advertising industry has high barriers to entry due to permitting restrictions, providing Lamar with a competitive edge [8] Dividend Performance - Lamar has consistently raised its dividend, with a five-year annualized growth rate of 13.94%, which enhances investor confidence [9]

Core Insights - Lamar Advertising Company has appointed Ross Reilly as President of its Outdoor Division, effective January 1, 2026, to oversee its billboard display business [1] - Mr. Reilly has a strong background in mergers and acquisitions, having closed over $1.5 billion in out-of-home asset acquisitions since 2019 [2] - He has also played a key role in developing Lamar's programmatic sales strategy and has led the investment in Vistar Media, the largest out-of-home programmatic sales platform [2][3] Company Background - Lamar Advertising Company, founded in 1902, is one of the largest outdoor advertising companies in North America, operating over 362,000 displays across the United States and Canada [6] - The company offers a variety of advertising formats, including billboards, interstate logos, transit, and airport advertising, catering to both local businesses and national brands [6] - Lamar boasts the largest network of digital billboards in the United States, with over 5,400 displays [6]

Core Viewpoint - Shares of Lamar Advertising Company (LAMR) have underperformed over the past year, losing just over 2% of their value due to higher interest rates and a lost contract in Vancouver, although the core business shows signs of acceleration [1] Company Performance - The company has experienced a decline in share value, attributed to external factors such as sustained high interest rates and the loss of a significant contract [1] - Despite the challenges, there are indications that the core business is beginning to accelerate, suggesting potential for recovery [1]