Lamar Advertising (LAMR)
Real Estate
Lamar is the largest operator of outdoor advertising displays in the US, with 350,000+ billboards, logo signs, and transit ads generating strong local-market-driven revenues as a publicly traded REIT.
What Lamar Advertising does
Lamar Advertising Company is one of the largest outdoor advertising companies in the United States, operating approximately 159,300 billboard displays, 144,400 logo signs, and 40,600 transit advertising displays across 45+ states and Canada. The company rents advertising space on billboards (both traditional and digital), highway logo signs, and transit vehicles and shelters, offering fully integrated services from ad production to placement and maintenance. Operating as a REIT since 2014 and converted to an UPREIT structure in 2022, Lamar derives approximately 79% of revenues from local advertising customers.
Themes: ["Outdoor advertising / out-of-home (OOH) media","Billboard networks","Digital signage","Transit advertising","Highway advertising / logo signs","Local advertising markets","Real estate investment trust (REIT)"]
Fundamentals
- Price$162.25 as of 2026-07-09 close
- Market cap$16.3B as of 2026-07-10
- 1-year return+30.3% as of 2026-07-09 close
- P/E29.65 as of 2026-07-10
- Net margin+24.0% as of 2026-07-10
- Gross margin+82.0% as of 2026-07-10
- ROE+56.1% as of 2026-07-10
- Debt / equity3.62 as of 2026-07-10
- Revenue growth (YoY)+3.4% as of 2026-07-10
- Beta1.22 as of 2026-07-10
Dividend: yield +4.0%; 5-year non-decreasing per-share dividend streak (SEC XBRL).
Key risks (from latest filing)
["Economic downturns and reduced advertising spending by customers could negatively impact revenue and occupancy rates across billboard, logo, and transit display segments.","Dependence on local account executives and regional management for sales performance, with concentration of long-tenure staff that could create succession and operational continuity risks.","Significant debt obligations (long-term debt of $3.25 billion as of Q1 2026) and operating lease liabilities create financial leverage and refinancing risk in higher interest rate environments."]
Competitors & peers
Fundamentals: Finnhub, as of 2026-07-10. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.