Lamar Advertising Stock (NASDAQ:LAMR), Trade Ideas

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.

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Lamar Advertising Company - Class A Common Stock

Lamar Advertising Co

<a href="https://www.globenewswire.com/Tracker?data=yAyXhWQM_4TxIXYF5ra2klEc59edpSibZdcR-TN0S6BhLkIEj4tKZAJWK3VQ-UZZJZDTRpDUAz3iZ1_yzRpHSOAj9k-8fq4D9hSuf6QfdjA=">Vistar Media</a>, the leading global provider of technology solutions for out-of-home (OOH) media, today announced that <a href="https://www.globenewswire.com/Tracker?data=Yx5ftqom7p7e4oqs1RvYrmE9jfBxGFlXYMCiD6VO-vQVlTXLH9k-1n-fVhN53UIeYfiDJfnSMjXz2Uqf2MFo08wE-u1aiiUCr0aoOgXx7U4=">Lamar Advertising Company</a>, one of the largest outdoor advertising companies in the world, selected Vistar's content management software (CMS), Cortex, to power its network of digital out-of-home (DOOH) billboards across the U.S. The agreement follows a partnership forged in 2023 in which Lamar chose Vistar to run its <a href="https://www.globenewswire.com/Tracker?data=_Yu5fTsjevEIyG-jl5M766mWa29sAbZOI18tsala4vCbxGN0FyRopSqa3NFWJWk0qP46dXg4NxkMHj-9gykrWSvN9RBZTtB5UUUIdL3wU03OfdZ4O88QVmeFF8hZO5W8FHY9OnWEdEdQ2GuGhj-AwRbNYRmsU9KUuCF9KesvW6gkUMlBy2xXDwQTtesrX4Ut">Denver Transit DOOH network</a>.
Lamar offers advertisers the largest network of digital billboards in the U.S., boasting nearly 5,000 displays serving over 5 billion weekly impressions. Lamar deployed Cortex to its entire DOOH network in less than six weeks with zero downtime. The smooth transition underscores the effectiveness of Vistar's Cortex software suite, purpose built for the distinctive demands of DOOH networks.
Sukhvinder Singh, SVP, Technology &amp; Innovation at Lamar Advertising shared, "Having partnered with Vistar for over a decade, we were confident in their proven track record of success and trusted the unique technology they have built to power a DOOH network of our size. We have a shared passion for impactful OOH advertising, and we're excited to expand on our partnership with Vistar to continue connecting advertisers with audiences that matter to them. The speed and efficiency with which we deployed their technology across our network was truly impressive."
"Lamar's nationwide footprint, paired with the sheer size of its digital billboards, allows advertisers to reach consumers with unparalleled creative impact," said Eric Lamb, SVP, Enterprise Solutions at Vistar Media. "A network of this scale and influence deserves industry-leading technology to support it, and Vistar is thrilled to expand our CMS partnership across Lamar's billboard network. It's a really exciting time for OOH, and we're honored to put Vistar's engineering power behind Lamar's incredible business."
<a href="https://www.globenewswire.com/Tracker?data=7Bh_-5qoFPELC3QoS5HpsnT2rRmkiOU1-rKIml3FGB6twiBtzCkY8LZt0WOYbQ09-8BYOnvkcYkm2oUozTUJLAH9roBbxPyNyGTDkLVRiyXyh4gla13zn7lmQtn7E5eF">Reach out to Vistar today</a> to learn more about the tools that have been specially engineered for media owners.

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Lamar Advertising Company Selects Vistar Media To Power Its US Digital Out-Of-Home Billboard Network

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Shares of REITs are trading lower as Treasury yields rise following hotter-than-expected March inflation data.

Investors looking over the vast number of real estate investment trusts (REITs) are sometimes confused as to which ones will most likely create both appreciation and a good dividend return over time. The combination of these two performance matrices creates the "total return" of the REIT.
Many REITs perform well for short periods but do not sustain those results over a longer period. With the headwinds of COVID-19, inflation and increases in interest rates over the past five years, it hasn't been an easy time for the REIT sector in general.
However, some individual REITs have withstood the headwinds and captured excellent gains. Take a look at four REITs with double-digit total returns over the past three- and five-year time frames.
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Iron Mountain Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IRM#NYSE">IRM</a>) is a Portsmouth, New Hampshire-based specialty REIT with a focus on information management and storage, data center infrastructure and asset lifecycle management. Iron Mountain was founded in 1951 and has more than 240,000 customers worldwide. In recent years, it has shifted its focus from paper storage to data storage.&nbsp;
On Feb. 22, Iron Mountain reported its fourth-quarter operating results. Funds from operations (FFO) of $0.83 per share beat the consensus estimate of $0.81 and its FFO of $0.74 per share in the fourth quarter of 2022. Revenue of $1.42 billion beat the fourth-quarter 2022 revenue of $1.28 billion but could not meet the analyst estimates of $1.45 billion.
On March 15, Wells Fargo analyst Eric Luebchow maintained an Overweight position on Iron Mountain and raised the price target from $80 to $90. Barclays' analyst Brendan Lewis also has an Overweight position from early March on Iron Mountain, with a $91 price target.
Iron Mountain's three- and five-year total returns are 129.4% and 150.54% respectively.
Tanger Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SKT#NYSE">SKT</a>), formerly called Tanger Factory Outlet Centers Inc., is a Greensboro, North Carolina-based retail REIT that owns, coowns or manages 40 indoor shopping centers and outdoor factory outlet malls with 15.6 million square feet and over 3,000 stores across 20 states and in Canada. Tanger Factory Outlet Centers was founded in 1981 and had its initial public offering (IPO) in May 1993. Tanger's occupancy rate at the end of 2023 was 97.3%.
On Feb. 15, Tanger reported excellent fourth-quarter operating results. FFO of $0.52 beat the estimate of $0.50. Revenue of $127.48 million beat the estimate of $119.04 million and was 9.46% above revenue from the fourth quarter of 2022 of $116.46 million. Additionally, full-year core FFO was announced in a range from $2.01-$2.09 per share, with a midpoint above the analyst consensus estimate of $2.03 per share.&nbsp;
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On April 5, Bank of America Securities analyst Jeffrey Spector upgraded Tanger from Underperform to Neutral and raised the price target 29.1% from $24 to $31. On March 22, Citigroup analyst Michael Bilerman also upgraded Tanger from Neutral to Buy and raised the price target from $30 to $33.&nbsp;
Tanger's three- and five-year total returns are 94.41% and 56.76%, respectively.
Plymouth Industrial REIT Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLYM#NYSE">PLYM</a>) is a Boston-based industrial REIT that owns and operates 156 properties with over 34 million square feet in 13 East Coast and Midwestern markets. Its portfolio occupancy as of Dec. 31, was 98.6%. During the fourth quarter of 2023, it leased an aggregate of 966,167 square feet, with a 23.4% increase in rental rates on a cash basis from these leases.
In 2023, Plymouth outperformed larger and more well-known industrial REITs such as Prologis Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PLD#NYSE">PLD</a>) and Rexford Industrial Realty Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/REXR#NYSE">REXR</a>). Still, this smaller REIT receives far less publicity than its rivals.&nbsp;&nbsp;
On Feb. 21, Plymouth reported its fourth-quarter operating results. Adjusted FFO (AFFO) of $0.48 per share was a 14.29% increase over AFFO of $0.42 in the fourth quarter of 2022. Revenue of $50.75 million missed the Street's estimate of $50.91 million but topped its revenue of $47.32 million in the fourth quarter of 2022.
Plymouth Industrial also announced an increase in its quarterly dividend from $0.225 per share to $0.24 per share. The $0.96 per share annual dividend presently yields 4.48%.&nbsp;
On&nbsp; March 27, Barclays analyst Brendan Lynch initiated coverage on Plymouth Industrial REIT with an Equal-Weight rating and announced a price target of $22.
On April 2, Plymouth Industrial reported on its leasing activity for the first quarter of 2024. Over 1.3 million square feet of space with terms of at least six months was leased with a 17.1% increase in rental rates. These included both renewals and new leases. Total same-store occupancy at the end of the first quarter was 98.3%.
Plymouth Realty's three- and five-year total returns are 39.62% and 58.28%, respectively.
Lamar Advertising Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAMR#NASDAQ">LAMR</a>) is a Baton Rouge, Louisiana-based specialty REIT, founded in 1902 with a focus on owning and leasing 363,000 displays throughout the U.S. and Canada, including digital and print billboards, interstate logos and airport advertising formats. Lamar Advertising and Outfront Media Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OUT#NYSE">OUT</a>) are the only two REITs exclusively devoted to billboard and display advertising.
On Feb. 23, Lamar Advertising reported its fourth-quarter results. FFO of $1.46 per share beat the estimate of $1.35 per share and was 124.62% better than its fourth-quarter 2022 FFO of $0.65 per share. Revenue of $555.91 million topped the estimate of $547.66 million and also bested its revenue of fourth-quarter 2022 revenue of $535.51 million.
On Feb. 26, Morgan Stanley analyst Benjamin Swinburne maintained an Equal-Weight rating on Lamar and increased the price target from $105&nbsp; to $110. The same day, JPMorgan Chase &amp; Co. analyst Richard Close maintained a Neutral rating on Lamar and raised the price target from $92 to $109.
Lamar pays a quarterly dividend of $1.30 per share, and the annualized $5.20 dividend yields 4.52%. Its total three- and five-year returns are 34% and 67.52%, respectively.&nbsp;
The following table summarizes all four REITs and the total returns made since 2019:
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>REIT</td>
<td>SYMBOL</td>
<td>TYPE</td>
<td>3-YR RETURN</td>
<td>5-YR RETURN</td>
</tr>
<tr>
<td>Iron Mountain Inc.</td>
<td>IRM</td>
<td>Specialized</td>
<td>129.4%</td>
<td>150.54%</td>
</tr>
<tr>
<td>Tanger Inc.&nbsp;</td>
<td>SKT</td>
<td>Retail</td>
<td>94.41%</td>
<td>56.76%</td>
</tr>
<tr>
<td>Plymouth Industrial REIT</td>
<td>PLYM</td>
<td>Industrial</td>
<td>39.62%</td>
<td>58.28%</td>
</tr>
<tr>
<td>Lamar Advertising Co.</td>
<td>LAMR</td>
<td>Specialized</td>
<td>34%</td>
<td>67.52%</td>
</tr>
</tbody>
</table>
</figure>
(Dates used: April 5, 2021, and April 5, 2019, to April 5, 2024)
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Real estate investment trusts (REITs) demonstrated notable relative strength in March, with about 70% of all REITs gaining ground for the month. The Vanguard Real Estate Index Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNQ#NYSE">VNQ</a>), which includes REITs as well as other real estate-related stocks, was up 1.94%. But many REITs were notably stronger than that.
Quite often the best performers are not necessarily the largest or most well-known REITs, and this was apparent over the last four weeks. Take a look at the best-performing REITs in March.&nbsp;
Acres Commercial Realty Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACR#NYSE">ACR</a>) is a Uniondale, New York-based mortgage REIT (mREIT) with a specialty of originating, holding and managing mortgage loans and other debt instruments for commercial real estate (CRE). Multifamily properties account for 80% of its lending portfolio. Acres Commercial is externally managed by ACRES Capital LLC, a subsidiary of ACRES Capital Corp.
Acres Commercial has $2.2 billion in assets. Its most recent percentage of current loan portfolio payments is 98%.
&nbsp;On Feb. 28, Acres Commercial reported fourth-quarter earnings per share (EPS) of $0.55, beating the estimate of $0.47 handily. Revenue of $22.45 million was also ahead of the estimate of $19.6 million, although it was slightly below fourth-quarter 2022 revenue of $23.24 million.
Strong earnings in the fourth quarter propelled Acres Commercial to lead all REITs in March with a total gain of 27.24%.
NewLake Capital Partners Inc. (OTCMARKETS: NLCP) is a New Canaan, Connecticut-based internally managed industrial REIT with 31 properties totaling 1.7 million square feet across 12 states. NewLake Capital Partners specializes in triple-net leases to cannabis companies as well as providing capital to them when necessary. Its market cap is $369.06 million.
NewLake was founded in 2019 and had its initial public offering (IPO) in August 2021. Its tenants include the largest companies in the cannabis industry, such as Curaleaf, Cresco Labs Inc. and Trulieve. As of March, it had a 100% occupancy rate, with an average of 14.3 years remaining on its lease terms and 2.6% annual rent escalations on 15-20 year lease terms.
On March 11, NewLake delivered upbeat fourth-quarter 2023 operating results. Funds from operations (FFO) of $0.51 per share beat the estimates of $0.45 per share. Revenue of $13.02 million beat the estimates of $11.41 million and its fourth-quarter 2022 revenue of $12.18 million by 6.89%.
Analysts are beginning to take notice of NewLake. On March 14, Compass Point analyst Merrill Ross upgraded NewLake from Neutral to Buy and announced an $18.25 price target. &nbsp;
NewLake had the second-highest total gain among all REITs in March with 20.87%&nbsp;
Creative Media &amp; Community Trust Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCT#NASDAQ">CMCT</a>) is a Dallas-based office REIT that focuses on acquiring, operating and developing premier office, hotel and multifamily residential properties in fast growing communities. Many of its 13 properties are in Texas and California. Creative Media &amp; Community is externally managed by CIM Group.&nbsp;
Creative Media was established in 1994 and owns 403 real estate assets worth $30.7 billion.&nbsp;
On March 27, Creative Media reported its fourth-quarter operating results. FFO of $(0.72) per share, missed the estimate of $(0.48) by 50% and was 84.62% below fourth-quarter 2022 FFO of $(0.39) per share. Revenue of $29.47 million missed the estimate of $30.2 million but was a 13.92% increase over revenue of $25.87 million in the fourth quarter of 2022.&nbsp;
Despite the poor results, Creative Media managed to secure a total gain of 18.33%, the third highest among all REITs.
Outfront Media Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OUT#NYSE">OUT</a>) is a New York-based specialized REIT with 500,000 advertising displays across the largest U.S. markets. It uses billboard, digital, transit and mobile assets to showcase its clients. Outfront Media's website claims that its media reaches 70% of all Americans on a weekly basis. Outfront ahd Lamar Advertising Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAMR#NYSE">LAMR</a>) are the only specialty REITs that exclusively own advertising space.&nbsp;
On Feb. 21, Outfront Media reported its fourth-quarter operating results. Adjusted funds from operations (AFFO) of $0.40 beat the estimate of $0.36 and revenue of $501.2 million beat the estimate of $495.89 million and topped fourth-quarter 2022 revenue of $494.7 million.&nbsp;
Another positive for Outfront Media was the announcement on March 19 that it will be expanding its programmatic capabilities in transit advertising across the New York City subway stations and commuter rail stations- with a potential to reach over four million daily rider trips.
Outfront's total gain of 18.93% was the fourth best among REITs in March.
Peakstone Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKST#NYSE">PKST</a>) is an El Segundo, California-based, internally managed diversified REIT that owns and operates single-tenant office and industrial properties. Peakstone calls itself "America's Blue-Chip Landlord" and has a portfolio of 71 properties with 17.9 million square feet of space across 24 states in high-growth markets. Its portfolio is 96% leased. Peakstone had its IPO on April 13, 2023.
On Feb. 22, Peakstone Realty reported its fourth-quarter operating results. Adjusted FFO of $0.80 beat the estimates of $0.64 and revenue of $63.1 million was ahead of estimates of $63.06 million.&nbsp;
Since its IPO in April 2023 at $8, Peakstone has been one of the most volatile REITs, with large gains and losses. In March, Peakstone, buoyed by its strong fourth-quarter earnings, had a total gain of 18.77%, fifth best among all REITs.&nbsp;
Other REITs that performed well in March with gains between 13% and 17% include Geo Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEO#NYSE">GEO</a>), SL Green Realty Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLG#NYSE">SLG</a>) and City Office REIT Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CIO#NYSE">CIO</a>).
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One of the most difficult decisions investors make when purchasing stocks is not just what to buy but also when to buy them. Too many investors chase stocks after a considerable price run, only to be disappointed when the stocks pull back, leaving them with significant losses to overcome.
But sometimes stocks pull back so much off highs that they become "oversold," meaning they've fallen to an extreme position that generates buying interest by those looking for a bargain. The stock then bounces much higher. Of course, the opposite is also true — when stocks are overbought, there's nobody left to buy, investors take profits and the stock sells off.
Recently, several real estate investment trusts (REITs) with generous dividend yields have had oversold bounces, sometimes without any significant news to act as a catalyst. Take a look at four of them.
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Peakstone Realty Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKST#NYSE">PKST</a>) is an El Segundo, California-based, internally managed diversified REIT that owns and operates single-tenant office and industrial properties. Peakstone calls itself America's Blue-Chip Landlord and has a portfolio of 71 properties with 17.9 million square feet of space across 24 states in high-growth markets. Its portfolio is 96% leased.
Since its initial public offering (IPO) at $8 in April 2023, Peakstone has been one of the most volatile stocks in the REIT sector. From an April high of $45.88, it fell to a May low of $14.78, then staged a run-up to $38.68 in June, followed by a long descent through the summer to bottom at $12.15 in October. From there, it rebounded to $21.73 near the end of 2023 before pulling back to $13.22 near the end of February.
But since the beginning of March, Peakstone is back on the upswing with a total return of 14.38%.
Peakstone pays a quarterly dividend of $0.225, which yields 5.71% annually. Investors may want to wait for a pullback from the over-extended price before taking a position.
One Liberty Properties Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OLP#NYSE">OLP</a>) is a Great Neck, New York-based diversified net lease REIT that owns and manages retail, office and industrial properties under long-term triple net leases. One Liberty Properties presently owns 109 properties with more than 10.8 million square feet over 31 states. Most of its properties are in the East and Midwest portions of the U.S. It was incorporated in 1982.
One Liberty Properties had a tremendous November, gaining 11.03%, followed by a long, slow pullback through December and January.&nbsp; After a sideways move in February, One Liberty Properties has now gained 10.28% since March began.
On March 5, One Liberty Properties reported funds from operations (FFO) of $0.45 per share, in line with estimates. Revenue of $22.74 million beat the consensus estimate of $22.45 million but was a 17.95% decrease from revenue of $27.71 million in the fourth quarter of 2022.&nbsp;
On March 8, B. Riley Securities analyst Craig Kucera maintained One Liberty Properties at Neutral and raised the price target from $22.50 to $24.
One Liberty Properties pays a $0.45 quarterly dividend, and the annualized $1.80 dividend yields 8.06%.
Generation Income Properties Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GIPR#NASDAQ">GIPR</a>) is a Tampa, Florida-based diversified REIT that owns 26 single-property retail, office and industrial net lease properties in densely populated areas. Seventy-two percent of its tenants are investment grade credit or equivalent. Generation Income is a small company that was founded in 2015 and went public in 2021.
Generation Income Properties fell from $4.39 in January to a low of $2.90 on Feb. 23. The stock was quite oversold with a 14-period relative strength index (RSI) of 20 and a stochastic of 6. Since then, it's rebounded 27% to a recent price of $3.69.
Generation Income pays a monthly dividend of $0.039, and the annual dividend of $0.468 presently yields 12.89%.
Outfront Media Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OUT#NYSE">OUT</a>) is a New York-based specialized REIT with 500,000 advertising displays across the largest U.S. markets, using billboard, digital, transit and mobile assets to showcase its clients. Outfront Media's website claims that its media reaches 70% of all Americans weekly. Outfront Media and Lamar Advertising Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAMR#NYSE">LAMR</a>), are the only specialty REITs that exclusively own advertising space.
Since touching a 2023 low of $7.818 in October, Outfront Media has been on a tear. By mid-January, it was trading at $14.25, at which point it pulled back to $12.01 on Feb. 20.
But on Feb. 21, Outfront Media reported its fourth-quarter operating results. Adjusted funds from operations (AFFO) of $0.40 beat the estimate of $0.36 and revenue of $501.2 million beat the estimate of $495.89 million and topped the fourth-quarter 2022 revenue of $494.7 million.
As a result of this solid report, Outfront has rocketed 30.4% higher to a recent price of $15.67.
Despite the huge move higher, Outfront's $0.30 quarterly dividend still yields 8.19% on an annualized basis.
If there's one takeaway from looking at these four REITs, it's that after long pullbacks, when volatile stocks reach a heavily oversold position, some great returns can be realized if investors are willing to assume a little bit of risk and have the patience to wait for a reversal.
Weekly REIT Report: REITs are one of the most misunderstood investment options, making it difficult for investors to spot incredible opportunities until it's too late. Benzinga's in-house real estate research team has been working hard to identify the greatest opportunities in today's market, which you can gain access to for free by signing up for the <a href="https://www.benzinga.com/money/reit-newsletter">Weekly REIT Report.</a>
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It's always interesting to see the nuances of consistency when analysts raise price targets on stocks. Often, they will increase price targets on groups of stocks in a certain sector. Sometimes an analyst will announce price hikes that are similar to one or two other analysts from the same firm on the same day. Is that a coincidence? It doesn't seem to be.
For example, on Feb. 26, three Morgan Stanley analysts maintained Equal-Weight ratings on six different REITs, while raising the price targets on all of them. Take a look at the similar conclusions the three analysts reached on all six.
Mid-America Apartment Communities Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MAA#NYSE">MAA</a>) is a self-administered residential REIT that specializes in purchasing and leasing apartment complexes. As of Dec. 31, it owns 102,662 units in 276 communities across 16 states and Washington, D.C. Most of Mid-America Apartment Communities' properties are in the Southeast, Southwest and Mid-Atlantic states.
Mid-America Apartment Communities is a member of the S&amp;P 500 and has been a public company for almost 30 years. The Atlanta and Dallas areas comprise over 22% of its same-store net operating income. Mid-America has paid 119 consecutive quarterly cash dividends since its initial public offering (IPO) in 1994. At the end of the third quarter, same-store occupancy was 95.6%.
On Feb. 26, Morgan Stanley analyst Adam Kramer maintained Mid-America Apartment Communities with an Equal-Weight rating and raised the price target from $128 to $129.50.
Equity Residential (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQR#NYSE">EQR</a>) is a Chicago-based REIT that owns or invests in 305 apartment buildings with 80,683 units, located in larger and more affluent cities such as Boston, New York, Washington D.C, Seattle, San Francisco and Denver. Its third-quarter occupancy rate was 96%. Equity Residential has been a member of the S&amp;P 500 since 2001.
Kramer also maintained Equity Residential with an Equal-Weight rating and raised the price target from $58 to $64.
Camden Property Trust&nbsp; (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPT#NYSE">CPT</a>) is a Houston-based residential REIT that owns and manages over 240,000 square feet of apartment complexes in major cities across the U.S. Some of its apartment complexes also contain ground-floor retail space, offices or mixed-use space. It's a member of the S&amp;P 500 and had its IPO in 1993. At the end of the third quarter, its occupancy level was 95.6%, down from 96.6% one year earlier.
Kramer remained consistent, maintaining Camden Property Trust with an Equal-Weight rating and raising the price target from $95 to $98.
Essex Property Trust Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ESS#NYSE">ESS</a>) is a San Mateo, California-based residential REIT that acquires, develops and manages multifamily apartment communities on the West Coast of the U.S. Its portfolio includes 252 apartment communities, with approximately 62,000 apartment units in eight California and Washington state markets.
Essex was founded in 1971 and had its IPO in 1994 at $19.50 per share. It's been a member of the S&amp;P 500 since 2014 and is an S&amp;P Dividend Aristocrat with 30 years of increasing cash dividends.
Kramer maintained Essex Property Trust with an Equal-Weight rating and raised the price target from $227 to $230.
Simon Property Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPG#NYSE">SPG</a>) is an Indianapolis-based retail REIT that owns and leases over 250 properties, consisting of shopping malls, restaurants, outlet centers and entertainment venues. It has locations in the top 25 population markets across the U.S. Simon Property Group was founded in 1960 and launched its IPO in 1993. The occupancy rate for its U.S. malls and premium outlets at the end of the fourth quarter was 95.8%, up from 94.9% in the fourth quarter of 2022
On Feb. 5, Simon Property Group reported its fourth-quarter operating results. FFO of $3.69 per share easily beat the consensus estimate of $3.34. Revenue of $1.53 billion was ahead of estimates of $1.36 billion by 12.38% and was a 9.07% increase over fourth-quarter 2022 revenue of $1.4 billion.
Simon followed this up by raising its quarterly dividend from $1.90 to $1.95, the third dividend raise over the past year, and by announcing a new $2 billion common stock repurchase program over the next 24 months, another sign of optimism. This repurchase program replaces the previous $1.7 billion program that was to expire on May 16.
On Feb. 26, Morgan Stanley analyst Ron Kamdem maintained Simon Property Group with an Equal-Weight rating and raised the price target from $143 to $145.
Lamar Advertising Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAMR#NASDAQ">LAMR</a>) is a Baton Rouge, Louisiana-based specialty REIT, founded in 1902 that owns and leases 363,000 displays throughout the U.S. and Canada, including digital and print billboards, interstate logos and airport advertising formats. Lamar Advertising and Outfront Media Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OUT#NYSE">OUT</a>) are the only two REITs exclusively devoted to billboard and display advertising.
On Feb. 26, Morgan Stanley analyst Benjamin Swinburne maintained Lamar Advertising with an Equal-Weight rating and raised the price target from $105 to $110.
All in all, it was quite a busy morning for Morgan Stanley.
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Morgan Stanley Raises Price Targets On A Half Dozen REITs

Morgan Stanley analyst Benjamin Swinburne maintains Lamar Advertising (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAMR#NASDAQ">LAMR</a>) with a Equal-Weight and raises the price target from $105 to $110.

Price Target

Analyst Ratings

Morgan Stanley Maintains Equal-Weight on Lamar Advertising, Raises Price Target to $110

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 $92 to $109.

JP Morgan Maintains Neutral on Lamar Advertising, Raises Price Target to $109

Guidance

Lamar Advertising Expects FY24 EPS Of $5.02-$5.07 (Est $5.19), With AFFO Per Share Of $7.67-$7.82 (Est $7.79)

Lamar Advertising (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAMR#NASDAQ">LAMR</a>) reported quarterly earnings of $1.46 per share which beat the analyst consensus estimate of $1.35 by 8.15 percent. This is a 124.62 percent increase over earnings of $0.65 per share from the same period last year. The company reported quarterly sales of $555.91 million which beat the analyst consensus estimate of $547.66 million by 1.51 percent. This is a 3.81 percent increase over sales of $535.51 million the same period last year.

Earnings

Lamar Advertising Q4 EPS $1.46 Beats $1.35 Estimate, Sales $555.91M Beat $547.66M Estimate

<h3>Companies Reporting Before The Bell</h3>
&bull; Fomento Economico (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FMX#NYSE">FMX</a>) is likely to report quarterly earnings at $1.61 per share on revenue of $11.66 billion.
&bull; Calumet Specialty Prods (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLMT#NASDAQ">CLMT</a>) is projected to report quarterly loss at $0.39 per share on revenue of $926.13 million.
&bull; Global Blue Gr Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GB#NYSE">GB</a>) is likely to report quarterly earnings at $0.06 per share on revenue of $119.60 million.
&bull; Hyatt Hotels (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/H#NYSE">H</a>) is projected to report quarterly earnings at $0.39 per share on revenue of $1.60 billion.
&bull; Docebo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DCBO#NASDAQ">DCBO</a>) is estimated to report quarterly earnings at $0.08 per share on revenue of $48.40 million.
&bull; Hudbay Minerals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HBM#NYSE">HBM</a>) is likely to report quarterly earnings at $0.12 per share on revenue of $542.12 million.
&bull; RB Global (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBA#NYSE">RBA</a>) is expected to report quarterly earnings at $0.69 per share on revenue of $1.04 billion.
&bull; Sunstone Hotel Invts (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHO#NYSE">SHO</a>) is projected to report earnings for its fourth quarter.
&bull; Anglogold Ashanti (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AU#NYSE">AU</a>) is projected to report earnings for its fourth quarter.
&bull; Coca-Cola Europacific (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CCEP#NASDAQ">CCEP</a>) is expected to report earnings for its Fiscal Year 2023.
&bull; AerCap Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AER#NYSE">AER</a>) is expected to report quarterly earnings at $2.45 per share on revenue of $1.93 billion.
&bull; Bloomin Brands (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLMN#NASDAQ">BLMN</a>) is projected to report quarterly earnings at $0.69 per share on revenue of $1.20 billion.
&bull; Diana Shipping (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DSX#NYSE">DSX</a>) is projected to report quarterly earnings at $0.04 per share on revenue of $58.75 million.
&bull; TransAlta (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TAC#NYSE">TAC</a>) is estimated to report quarterly earnings at $0.14 per share on revenue of $576.71 million.
&bull; Warner Bros. Discovery (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBD#NASDAQ">WBD</a>) is projected to report quarterly loss at $0.06 per share on revenue of $10.37 billion.
&bull; Federal Agricultural (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AGM#NYSE">AGM</a>) is estimated to report quarterly earnings at $4.05 per share on revenue of $88.99 million.
&bull; E W Scripps (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SSP#NASDAQ">SSP</a>) is projected to report quarterly earnings at $0.11 per share on revenue of $602.33 million.
&bull; Gray Television (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GTN#NYSE">GTN</a>) is projected to report quarterly loss at $0.16 per share on revenue of $863.06 million.
&bull; Northwest Natural Hldg (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NWN#NYSE">NWN</a>) is expected to report quarterly earnings at $1.27 per share on revenue of $360.31 million.
&bull; Frontier Communications (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FYBR#NASDAQ">FYBR</a>) is likely to report quarterly loss at $0.12 per share on revenue of $1.42 billion.
&bull; Lamar Advertising (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAMR#NASDAQ">LAMR</a>) is likely to report quarterly earnings at $1.35 per share on revenue of $547.66 million.
&bull; Compx Intl (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/CIX#AMEX">CIX</a>) is projected to report earnings for its fourth quarter.
<h3>Companies Reporting After The Bell</h3>
&bull; BIT Mining (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTCM#NYSE">BTCM</a>) is expected to report quarterly earnings at $0.00 per share on revenue of $77.30 million.
This article was generated by Benzinga&#39;s automated content engine and reviewed by an editor.

BLMN

BTCM

Coca-Cola European Partners plc Ordinary Shares

CCEP

CLMT

DCBO

Fomento Economico Mexicano S.A.B. De C.V.

FYBR

Earnings Scheduled For February 23, 2024

Lamar Advertising (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAMR#NASDAQ">LAMR</a>) is set to give its latest quarterly earnings report on Friday, 2024-02-23. Here's what investors need to know before the announcement.
Analysts estimate that Lamar Advertising will report an earnings per share (EPS) of $1.35. 
Lamar Advertising bulls will hope to hear the company announce they've not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter.
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
<h3>Historical Earnings Performance</h3>
Last quarter the company missed EPS by $0.01, which was followed by a 3.07% increase in the share price the next day.
Here's a look at Lamar Advertising's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q3 2023</th>
<th>Q2 2023</th>
<th>Q1 2023</th>
<th>Q4 2022</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>1.38</td>
<td>1.40</td>
<td>0.81</td>
<td>1.29</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.37</td>
<td>1.28</td>
<td>0.74</td>
<td>0.65</td>
</tr>
<tr>
<td>Price Change %</td>
<td>3.07%</td>
<td>-2.51%</td>
<td>-0.61%</td>
<td>-2.73%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1708610481_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Lamar Advertising were trading at $107.71 as of February 20. Over the last 52-week period, shares are up 5.73%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<a href="https://www.benzinga.com/quote/LAMR/earnings">To track all earnings releases for Lamar Advertising visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings Outlook For Lamar Advertising

IIPR

SAFE

UNIT

Shares of REIT stocks are trading lower amid a rise in Treasury yields, which could drive a rotation out of income-paying stocks.

Lamar Advertising's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LAMR#NYSE">LAMR</a>) short percent of float has fallen 6.07% since its last report. The company recently reported that it has 1.72 million shares sold short, which is 2.32% of all regular shares that are available for trading. Based on its trading volume, it would take traders 5.15 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/2024/1707850847_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 5.24%, 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

Trading Ideas

Looking Into Lamar Advertising's Recent Short Interest

Before becoming the 45th president of the United States, Donald Trump was known for his success in the real estate market. However, today, his media coverage revolves around politics, such as his recent wins in the Iowa and New Hampshire primaries and the states of <a href="https://www.benzinga.com/real-estate/reit/24/01/36470411/does-donald-trump-own-any-real-estate-in-maine">Maine</a> and <a href="https://www.benzinga.com/real-estate/reit/24/01/36453004/does-donald-trump-own-any-real-estate-in-colorado">Colorado</a> attempting to keep him off their ballots.
With Iowa and New Hampshire in the rearview mirror, the next big state on everyone's mind is South Carolina. Even though Nikki Haley is a former governor of The Palmetto State, Donald <a href="https://www.benzinga.com/general/politics/24/01/36519763/trump-leads-haley-by-29-points-in-her-home-state-could-that-be-the-primary-to-stop-her-momentum">Trump owns a commanding lead</a> in the polls.
Politics aside, many are left wondering if Donald Trump owns any real estate in South Carolina. The quick answer is no. Donald Trump's real estate portfolio is large and impressive, but while he has <a href="https://www.benzinga.com/real-estate/24/01/36535479/donald-trumps-real-estate-portfolio-is-highly-concentrated-in-these-two-states">significant holdings in New York and Florida</a>, he does not own anything in South Carolina, according to <a href="https://www.trump.com/">Trump.com</a>.
<h2 class="wp-block-heading">Don't Miss:</h2>
<ul>
<li>Investing in real estate just got a whole lot simpler. This<a href="https://www.benzinga.com/money/dara-khosrowshahi-backed-startup-lets-you-become-a-landlord-with-100"> Dara Khosrowshahi-backed startup</a> will allow you to become a landlord in just 10 minutes, and you only need $100.</li>
<li>Commercial real estate has historically outperformed the stock market, but few investors have the capital or resources needed to invest in this asset class. A platform backed by industry giant Marcus &amp; Millichap is changing that, <a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate">allowing individuals to invest in commercial real estate with as little as $5,000.&nbsp;</a></li>
</ul>
<h2 class="wp-block-heading">Want exposure to South Carolina real estate?</h2>
According to Nareit's <a href="https://www.reitsacrossamerica.com/">REITs Across America</a>, 101 real estate investment trusts (REITs) own property in South Carolina, including public ones such as American Tower Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMT#NYSE">AMT</a>), American Homes 4 Rent (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMH#NYSE">AMH</a>), Easterly Government Properties (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DEA#NYSE">DEA</a>), Lamar Advertising Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAMR#NASDAQ">LAMR</a>), Public Storage (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PSA#NYSE">PSA</a>), Realty Income Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/O#NYSE">O</a>), Simon Property Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPG#NYSE">SPG</a>), and STAG Industrial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STAG#NYSE">STAG</a>).
One of the more interesting names on this list is Easterly Government Properties. It owns and manages a portfolio of 90 properties across 26 states that are leased to 40 U.S. government agencies through the General Services Administration.
Easterly currently pays a quarterly dividend of $0.265 per share, equating to $1.06 per share annually, giving its stock a juicy yield of about 8.4% today. The company has also raised its annual dividend five times since its 2015 initial public offering, making it both a high-yield and dividend-growth stock.
Read Next:
<ul>
<li>Investing in real estate just got a whole lot simpler. This <a href="https://www.benzinga.com/money/dara-khosrowshahi-backed-startup-lets-you-become-a-landlord-with-100">Dara Khosrowshahi-backed startup</a> will allow you to become a landlord in just 10 minutes, and you only need $100.</li>
<li>Commercial real estate has historically outperformed the stock market, but few investors have the capital or resources needed to invest in this asset class. A platform backed by industry giant Marcus &amp; Millichap is changing that, <a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate">allowing individuals to invest in commercial real estate with as little as $5,000.&nbsp;</a></li>
</ul>
Image Credit: Shutterstock

STAG

Trump-South Carolina: Does He Own Any Property in The Palmetto State?

Before becoming the 45th president of the United States, Donald Trump was known for his dealings in real estate. However, all of his media coverage today is related to politics, including the upcoming Iowa caucuses, where he is the frontrunner for the Republican party.
With Iowa on everyone's mind, many are wondering if Donald Trump owns any real estate in the Hawkeye State. The quick answer is no. Donald Trump's <a href="https://www.trump.com/">real estate portfolio</a> is large and impressive, but while he has <a href="https://www.benzinga.com/real-estate/23/12/36361629/is-donald-trump-the-largest-property-owner-in-nyc">significant holdings in New York</a>, for example, he does not own anything in Iowa.
Trump also does not own any real estate in <a href="https://www.benzinga.com/real-estate/reit/24/01/36453004/does-donald-trump-own-any-real-estate-in-colorado#">Colorado</a> or in <a href="https://www.benzinga.com/real-estate/reit/24/01/36470411/does-donald-trump-own-any-real-estate-in-maine">Maine</a>, two states that have recently made headlines for trying to keep him off their primary ballots for 2024.
<h2 class="wp-block-heading">Do you exposure to Iowa real estate?</h2>
According to Nareit's <a href="https://www.reitsacrossamerica.com/">REITs Across America</a>, 60 real estate investment trusts (REITs) own property in Iowa, including American Tower Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMT#NYSE">AMT</a>), Americold Realty Trust Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COLD#NYSE">COLD</a>), Gaming and Leisure Properties Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GLPI#NASDAQ">GLPI</a>), Lamar Advertising Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAMR#NASDAQ">LAMR</a>), Realty Income Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/O#NYSE">O</a>), and VICI Properties Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VICI#NYSE">VICI</a>).&nbsp;
Realty Income is one of the most popular REITs on this list because of its monthly dividend and track record of dividend growth. It currently pays a monthly dividend of $0.2565, equating to about $3.08 per share annually, which gives it a juicy yield of about 5.3% today. It has also raised its annual dividend every year since 1994 and is on pace for 2024 to mark the 30th consecutive year in which it has done so &#8211; this makes it qualify as a <a href="https://www.benzinga.com/content/investorplace-com/23/03/31536986/7-dividend-aristocrats-to-buy-for-consistent-income-growth">dividend aristocrat</a>.
<h2 class="wp-block-heading">Read Next:</h2>
<ul>
<li>Investing in real estate just got a whole lot simpler. This <a href="https://www.benzinga.com/money/dara-khosrowshahi-backed-startup-lets-you-become-a-landlord-with-100">Dara Khosrowshahi-backed startup</a> will allow you to become a landlord in just 10 minutes, and you only need $100.</li>
<li>Commercial real estate has historically outperformed the stock market, but few investors have the capital or resources needed to invest in this asset class. A platform backed by industry giant Marcus &amp; Millichap is changing that, <a href="https://www.benzinga.com/money/marcus-millichap-backed-platform-makes-it-easy-to-invest-in-real-estate">allowing individuals to invest in commercial real estate with as little as $5,000.</a></li>
</ul>
Image Credit: Shutterstock

COLD

Trump Leading in Iowa - But Does He Own Any Real Estate in the Hawkeye State?

The National Association of Real Estate Investment Trusts (Nareit) is the trade association that promotes and advocates for real estate investment trusts (REITs) and other real estate-based companies in the U.S. Nareit identifies 14 REIT subsectors, but several of them, such as timberlands, infrastructure and self-storage REITs, are often grouped together and called specialty or specialized REITs.&nbsp;
Over the past month, three REIT subsectors have outperformed all other REIT subsectors, propelled by the recent tame consumer price index (CPI) report and subsequent increase in the probability that the Federal Reserve will continue its pause on interest rate hikes. The three subsectors that have scorched all other REITs are:
Mortgage REITs (mREITs): mREITs are companies that invest in purchased and originated mortgages, as well as mortgage-backed securities (MBS) and earn income from the interest that is paid on those assets. These REITs generally fare better when interest rates are stable or declining.
Nine of the top 25 performing REITs over the past month are mREITs, including the No. 2 performer Hannon Armstrong Sustainable Infrastructure Capital Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HASI#NYSE">HASI</a>), up 41.01%; third-best performer Cherry Hill Mortgage Investment Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHMI#NYSE">CHMI</a>), up 35.17%; and fifth-best performer Granite Point Mortgage Trust Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPMT#NYSE">GPMT</a>), up 31.27%.
<h2 class="wp-block-heading">Don't Miss:</h2>
<ul>
<li>Passive income investments are one of the most trusted methods for riding out a recession, so it's no surprise that people are turning to <a href="https://www.benzinga.com/real-estate/23/05/32554601/want-to-grow-your-wealth-passively-these-high-yield-real-estate-notes-might-be-your-holy-grail">high-yield real estate notes that pay a fixed 7.5% to 9%.</a></li>
<li>Homeownership may be out of reach for most Americans, but that&#8217;s not stopping these average investors from raking in <a href="https://www.benzinga.com/money/bezos-landlord-100-dollars">passive income with single-family rentals through fractional ownership</a>.</li>
</ul>
Hannon Armstrong is an Annapolis, Maryland-based mortgage REIT (mREIT) that provides mortgage loans for renewable energy projects and owns stakes in a portfolio of solar and wind projects as well as other energy-efficient endeavors. Its business model and $4.9 billion portfolio are designed to invest in energy transitions that will improve the climate future. Hannon Armstrong joined the S&amp;P Small Cap 600 in mid-September. Its present market cap is $1.91 billion.
Specialized REITs are companies that invest in properties that don't fit within other REIT sectors. Eight of the top 25 best-performing REITs over the past month are specialized REITs, including fourth-best REIT Outfront Media Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OUT#NYSE">OUT</a>), up 35.14%. Others in the top 15 include Uniti Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UNIT#NASDAQ">UNIT</a>) and Safehold Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAFE#NYSE">SAFE</a>), which have gained 26.98% and 25.35%, respectively.
Outfront Media Inc. is a New York-based specialized REIT with 500,000 advertising displays across 70 U.S. markets, using billboard, digital, transit and mobile assets to showcase its clients. Outfront Media's website claims that its media reaches 70% of all Americans weekly. Outfront and Lamar Advertising Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAMR#NASDAQ">LAMR</a>) are the only specialty REITs that exclusively own advertising space.
Uniti Group Inc. is a Little Rock, Arkansas-based specialized REIT that acquires and constructs mission-critical communications infrastructure in the form of fiber optics, copper and coaxial broadband networks. It owns and operates 139,000 fiber route miles covering 300,000 commercial buildings in 300 metro markets, with most of its network in the Eastern and Midwestern U.S. It's one of the 10-largest fiber providers in the U.S., and its fiber optic leasing generates about 70% of its total revenue.
Safehold Inc. is a New York-based, externally managed specialized REIT that acquires, manages and produces income from a $6.3 billion portfolio of 130 ground net leases in the top 30 U.S. markets. One reason for Safehold's recent strong performance is that it's holding a lot of floating rate debt, so it benefits from the second consecutive pause in interest rate hikes and a flat CPI report.
Office REITs own office properties that are leased to different industries. Revenue is created from the collection of tenant rents and occasionally from selling properties that have appreciated over time. Four of the top 25 best-performing REITs over the past month are office REITs. Within that group are Franklin Street Properties Corp. (NYSEAMERICAN: FSP), the No.1-performing REIT overall with a 43.98% gain; City Office REIT Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CIO#NYSE">CIO</a>), the No. 6-performing REIT with a 30.4% gain; and Office Properties Income Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPI#NASDAQ">OPI</a>), with a 10.65% gain.
Franklin Street Properties is a Wakefield, Massachusetts-based office REIT that focuses on properties in the Sun Belt and Mountain West regions of the U.S. Franklin Street owns 19 properties and one consolidated sponsored REIT. Insider purchases have helped Franklin Street Properties to appreciate this month, but the increased performance by office REITs overall is mainly because of the pause in interest rate hikes.
Weekly REIT Report: REITs are one of the most misunderstood investment options, making it difficult for investors to spot incredible opportunities until it's too late. Benzinga's in-house real estate research team has been working hard to identify the greatest opportunities in today's market, which you can gain access to for free by signing up for the <a href="https://www.benzinga.com/money/reit-newsletter">Weekly REIT Report.</a>
<h2 class="wp-block-heading">Read Next:</h2>
<ul>
<li>Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." <a href="https://www.benzinga.com/money/3-high-yield-investments-boost-income">Here are 3 high-yield investments to add significant income to your portfolio</a>.</li>
<li>This REIT just teamed up with the company that built Elon Musk's tiny house to develop affordable housing communities. <a href="https://www.benzinga.com/alternative-investments/listing/future-of-housing-fund">Here's how you can be among the first to buy shares.</a></li>
</ul>

CHMI

GPMT

These 3 REIT Subsectors Are Surpassing All Others In Performance

On CNBC&rsquo;s &quot;<a href="https://www.cnbc.com/video/2023/11/03/final-trades-gartner-united-airlines-more.html">Halftime Report Final Trades</a>,&quot; Shannon Saccocia of Boston Private named Utilities Select Sector SPDR Fund (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/xlu#NYSE">XLU</a>) <a href="https://www.benzinga.com/news/23/11/35590668/check-out-3-consumer-stocks-with-over-5-dividend-yields-from-wall-streets-most-accurate-analysts"> as her final trade </a>
Joseph Terranova of Virtus Investment Partners picked Gartner, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/it#NYSE">IT</a>).
Gartner reported better-than-expected third-quarter financial results and raised FY23 guidance.
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
Jenny Harrington of Gilman Hill Asset Management said Lamar Advertising Company (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/lamr#NASDAQ">LAMR</a>) is &quot;perfectly fine and undervalued.&quot;
Lamar Advertising posted better-than-expected sales results for its third quarter.
Brian Belski of BMO Capital Markets picked United Airlines Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ual#NASDAQ">UAL</a>) ahead of the Christmas vacation season.
United Airlines Holdings recently reported upbeat third-quarter results, but warned that fourth-quarter earnings could be as low as $1.50 per share versus $3.65 per share in the current quarter.
Price Action: Lamar Advertising shares gained 3.1% to close at $95.00, while United Airlines shares gained 4.7% to settle at $37.51 on Friday. Gartner gained 14.6% to close at $386.71, while Utilities Select Sector SPDR Fund added 0.6% during Friday&rsquo;s session.
Check This Out: <a href="https://www.benzinga.com/news/earnings/23/11/35584829/how-to-earn-500-a-month-from-apple-stock-after-upbeat-q4-results"> How To Earn $500 A Month From Apple Stock After Upbeat Q4 Results</a>
Photo: Shutterstock

Long Ideas

Markets

Media

United Airlines, Lamar Advertising, Gartner And More: CNBC's 'Final Trades'

CNBC Halftime Report Final Trades: United Airlines, Lamar Advertising Co, Gartner

Lamar Advertising Q3 EPS $1.37 Vs $1.44 YoY, Sales $542.61M Beat $542.00M Estimate

These Real Estate stocks are trading higher:45378-Hudson Pacific Properties Inc (HPP) stock is trading at $6.50, a rise of $0.24, or 3.92%, on low volume.  Hudson Pacific Properties gets a Sentiment Score of Bearish from InvestorsObserver and receives an average analyst recommendation of Strong Buy with a price target of $

Real Estate Stocks on the Move Monday: BNL, HPP, LAMR, UDR, AHT, RC, LSEA, RMAX

Winners Of REIT Earnings Season

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Bitcoin (<a href="https://investorplace.com/cryptocurrency/btc:usd/">BTC-USD</a>) hit a record high of $69,202, topping its previous high of $68,999.99 in November 2021. That&rsquo;s good news for Coinbase Global (NASDAQ:<a href="https://investorplace.com/stock-quotes/coin-stock-quote/">COIN</a>) and COIN stock.&nbsp;



After all, Bitcoin accounted for <a href="https://s27.q4cdn.com/397450999/files/doc_financials/2023/q4/Shareholder-Letter-Q4-2023.pdf">34%</a> of its 2023 trading volume and 35% of its transaction revenue.&nbsp;




&ldquo;We generate a large portion of our total revenue from transaction fees on our platform in connection with the purchase, sale, and trading of crypto assets by our customers. Transaction revenue is based on transaction fees that are either a flat fee or a percentage of the value of each transaction,&rdquo; states pg. 22 of its <a href="https://s27.q4cdn.com/397450999/files/doc_financials/2023/q4/Coinbase-Q4-23-10K.pdf">2023 10-K</a>.&nbsp;




In 2023, Coinbase&rsquo;s transaction revenue was $1.52 billion, accounting for 48.9% of its total revenue. So, Bitcoin accounted for $532 million of the company&rsquo;s transaction revenue, down from $1.71 billion in 2021. As Bitcoin goes, so goes Coinbase.&nbsp;



The company&rsquo;s 2023 shareholder letter boasted that the company earned $964 million in adjusted EBITDA (earnings before interest, taxes, depreciation and amortization), up from -$371 million in 2022.&nbsp;



While that&rsquo;s all very nice, many other U.S. companies earned this much in the past year, many of them involved in industries not nearly as speculative or volatile.&nbsp;



Is COIN stock the best bet With $1 Billion EBITDA? Maybe. Maybe not. Let&rsquo;s have a look.&nbsp;&nbsp;



<h2>15 Possible Stocks to Choose From</h2>



Using S&amp;P Global Market Intelligence&rsquo;s screening tool, I&rsquo;ve compiled a list of 15 companies in the S&amp;P Composite 1500 that had between $900 million and $1 billion in EBITDA in the latest 12 months.&nbsp;



To make the cut for further consideration, these companies should have an EBITDA margin at or near Coinbase, which is 30.8% based on $964 million and $3.1 billion in revenue.



Of the 18, only one has a higher EBITDA margin at 45.7%, with four others in the 20s, including one at 27.7%, within 310 basis points of Coinbase.&nbsp;



CompanyRevenueEBITDA MarginLamar Advertising (NASDAQ:<a href="https://investorplace.com/stock-quotes/lamr-stock-quote/">LAMR</a>)$2.11B45.7%Idex Corp. (NYSE:<a href="https://investorplace.com/stock-quotes/iex-stock-quote/">IEX</a>)$3.27B27.7%Charles River Laboratories&nbsp;(NYSE:<a href="https://investorplace.com/stock-quotes/crl-stock-quote/">CRL</a>)$4.13B23.5%Deckers Outdoor (NYSE:<a href="https://investorplace.com/stock-quotes/deck-stock-quote/">DECK</a>)$4.12B22.9%Coherent Corp. (NYSE:<a href="https://investorplace.com/stock-quotes/cohr-stock-quote/">COHR</a>)$4.63B21.4%One of my favorite stocks is Deckers Outdoor, the makers of Ugg boots and Hoka running shoes. It continues to grow like weeds. Its net sales in Q3 2024 were 16% higher to $1.56 billion, with Hoka sales up 21.9% to <a href="https://ir.deckers.com/news-events/press-releases/press-release/2024/DECKERS-BRANDS-REPORTS-THIRD-QUARTER-FISCAL-2024-FINANCIAL-RESULTS/default.aspx">$429.3 million</a>. Its net income in the quarter was 40% higher over Q3 2023.&nbsp;&nbsp;



DECK stock is up 36% in 2024. It will <a href="https://investorplace.com/2024/03/deck-stock-alert-deckers-outdoors-is-joining-the-sp-500/">join</a> the S&amp;P 500 later in March. It&rsquo;s a winner.&nbsp;



The other option besides Lamar Advertising is Idex, an Illinois-based company that makes industrial machinery and products for many end markets. Its <a href="https://www.idexcorp.com/our-businesses/business-segments/">three operating segments</a> are Fluid &amp; Metering Technologies (FMT), Health &amp; Science Technologies, and Fire &amp; Safety/Diversified Products (FSDP).&nbsp;&nbsp;&nbsp;&nbsp;



In 2023, Idex had a record revenue of <a href="https://investors.idexcorp.com/node/21761/pdf">$3.3 billion</a> with a record free cash flow of $627 million, 28% higher than in 2022. According to the company, its adjusted EBITDA was $899.6 million in 2023, $6.9 million less than the S&amp;P Global Market Intelligence number, but a margin of just two basis points less at 27.5%. It&rsquo;s still terrific.



IDEX stock hasn&rsquo;t done much in the past year. The low single-digit sales growth likely had something to do with it. Despite this, I could see myself making this a long-term buy.&nbsp;



<h2>The Better Buy?</h2>



Lamar Advertising has an EBITDA margin of nearly 15 percentage points higher than Coinbase, with not almost the same amount of volatility or risk.&nbsp;



In the past, I&rsquo;ve written occasionally about Outfront Media (NYSE:<a href="https://investorplace.com/stock-quotes/out-stock-quote/">OUT</a>), one of the largest operators of outdoor billboards and transit displays in the U.S. and Canada. Lamar is a direct competitor.&nbsp;



In Jan. 2021, I suggested it might be a good stock to buy under <a href="https://investorplace.com/2021/02/7-stocks-under-20-to-buy-now/">$20</a>. At the time, it was around $18. I thought it had been battered enough by the pandemic. It&rsquo;s down another 17% since, nearly half its $28 IPO price from 2014.



Lamar&rsquo;s chart doesn&rsquo;t look much better. It&rsquo;s up 51% over the past five years, 81% higher than OUT, but still trailing the index.&nbsp;



In 2023, its adjusted EBITDA increased by 5.1% to <a href="https://ir.lamar.com/news-releases/news-release-details/lamar-advertising-company-announces-fourth-quarter-and-year-4">$985.7 million</a>, while its sales increased by 3.9% to $2.11 billion. However, its total debt of $3.34 billion is 28% of its market cap. That leaves little room for error.



With projected 2024 adjusted funds from operations of $7.75 a share at the midpoint of its guidance, it trades at 15.0x this estimate. That&rsquo;s not cheap.&nbsp;



In conclusion, COIN stock is a good bet on the growth of cryptocurrency and blockchain if you&rsquo;re an aggressive investor. If you&rsquo;re not, Deckers is the way to go.&nbsp;&nbsp;



On the date of publication, Will Ashworth did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/"> Publishing Guidelines</a>.
<div>Will Ashworth has written about investments full-time since 2008. Publications where he&rsquo;s appeared include InvestorPlace, The Motley Fool Canada, Investopedia, Kiplinger, and several others in both the U.S. and Canada. He particularly enjoys creating model portfolios that stand the test of time. He lives in Halifax, Nova Scotia.</div><h3>More From InvestorPlace</h3>
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Betting on Bitcoin: Does Coinbase Stock's Surge Signal a Buy?

An update from Lamar Advertising Company (LAMR) is now available. Lamar Advertising Company's Compensation Committee has announced an increase in b...

Lamar Advertising Executives' Salaries and Bonuses Increase

Diversified REITs offer risk mitigation, stable income streams, and capital appreciation potential, making them valuable additions to an investment portfolio. Thus, it could be wise to invest in top diversified REITs Ladder Capital (LADR), Gaming and Leisure Properties (GLPI), Lamar Advertising (LAMR), and Daito Trust Construction (DIFTY) for future gains. Read on… Diversified REITs allow investors to access the real estate market with lower risk, stable income streams, and the potential for long-term capital appreciation. So, diversified REITs Ladder Capital Corp (<a href="https://stocknews.com/stock/LADR/">LADR</a>), Gaming and Leisure Properties, Inc. (<a href="https://stocknews.com/stock/GLPI/">GLPI</a>), Lamar Advertising Company (<a href="https://stocknews.com/stock/LAMR/">LAMR</a>), and Daito Trust Construction Co., Ltd. (<a href="https://stocknews.com/stock/DIFTY/">DIFTY</a>) could be ideal portfolio additions.
Diversified REITs are unique among other REIT categories because they own various property types and generate rental income from tenants. Unlike specialized REITs focused on specific sectors like residential or healthcare, diversified REITs invest in a <a href="https://www.reit.com/what-reit/reit-sectors/diversified">mix of commercial properties</a> such as office buildings, hotels, resorts, industrial facilities, and retail spaces.
This diversified portfolio helps spread risk and provides more predictable income streams, making them attractive to investors seeking stable returns. One key advantage of diversified REITs is their ability to weather economic downturns more effectively than other asset classes due to their broad exposure across different property sectors.
According to Statista, as of November 2023, the top ten diversified REITs in the United States collectively had a <a href="https://www.statista.com/statistics/1347397/market-cap-leading-diversified-reits-usa/">market capitalization of approximately $22.16 billion</a>. The largest diversified REIT, W. P. Carey Inc. (<a href="https://stocknews.com/stock/WPC/">WPC</a>), stood at $11.48 billion in November 2023.
In 2024, the market will likely favor REITs more than the previous year. REITs are <a href="https://www.dividend.com/portfolio-management-channel/navigating-reit-market-resurgence-in-2024/">poised for a strong performance this year</a> due to several bullish trends, low asset prices, and a potential slowdown in the Federal Reserve's interest rate hikes.
Moreover, the mandatory obligation on REITs to pay at <a href="https://www.reit.com/investing/investment-benefits-reits/reits-and-dividend-income">least 90% of their taxable income</a> to shareholders in the form of dividends makes it a well-suited investment alternative for income-oriented investors whose approach is making stable income from their investments.
In light of these encouraging trends, let's look at the fundamentals of the four best <a href="https://stocknews.com/category/reits-diversified/">REITs - Diversified</a>, beginning with number 4.
Stock #4: Ladder Capital Corp (<a href="https://stocknews.com/stock/LADR/">LADR</a>)
LADR operates as an internally managed real estate investment trust. The REIT operates in three segments: Loans; Securities; and Real Estate. It originates conduit-first mortgage loans and invests in note purchase financings and commercial mortgage-backed securities. It also owns and invests in a portfolio of commercial and residential real estate properties.
On March 15, LADR's Board of Directors declared a first-quarter 2024 dividend of $0.23 per share of Class A common stock. The cash dividend is to be paid on April 15, 2024, to stockholders of record as of the close of business on March 28, 2024.
LADR pays an annual dividend of $0.92, which translates to a yield of 8.27% at the current share price. Its four-year average dividend yield is 9.25%. Moreover, the company's dividend payouts have increased at a CAGR of 4.8% over the past three years.
In terms of forward non-GAAP P/E, LADR is trading at 9.07x, 15.4% lower than the industry average of 10.73x. Also, the stock's trailing-12-month Price/Book of 0.92x is 19.9% lower than the industry average of 1.15x.
For the fourth quarter that ended on December 31, 2023, LADR's net interest income increased 2.5% from the prior quarter to $39.82 million. The company's distributable earnings and distributable <a href="https://www.investopedia.com/terms/e/eps.asp">EPS</a> came in at $40 million and $0.32, up 2.4% and 3.2% from the previous quarter, respectively.
In addition, the company's cash and cash equivalents stood at $1.01 billion as of December 31, 2023, versus $609.08 million as of December 31, 2022.
Street expects LADR's revenue and EPS for the fiscal year (ending December 2025) to increase 15.6% and 9.4% year-over-year to $324.62 million and $1.34, respectively. Furthermore, the company surpassed the consensus EPS estimates in all the trailing four quarters.
LADR's stock has gained 7.3% over the past six months and 19.2% over the past year to close the last trading session at $11.13.
LADR's solid outlook is reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
The stock has a B grade for Quality. Within the <a href="https://stocknews.com/category/reits-diversified/">REITs - Diversified</a> industry, LADR is ranked #4 out of 46 stocks.
<a href="https://stocknews.com/stock/LADR/">Click here</a> to access additional ratings of LADR (Growth, Momentum, Value, Stability, and Sentiment).
Stock #3: Gaming and Leisure Properties, Inc. (<a href="https://stocknews.com/stock/GLPI/">GLPI</a>)
GLPI engages in the business of acquiring, financing, and owning real estate property to be leased to gaming operators in triple-net lease arrangements. Its portfolio comprises of 62 premier gaming and related facilities and amenities geographically diversified and well-positioned across 19 states.
On February 26, GLPI's Board of Directors declared a first-quarter 2024 cash dividend of $0.76 per share of its common stock. The dividend was paid on March 29, 2024, to shareholders of record on March 15, 2024. The dividend reflects an increase from the previous quarterly cash dividend of $0.73 per share for the fourth quarter of 2023.
GLPI pays an annual dividend of $3.04, which translates to a yield of 6.60% at the current share price. Its four-year average dividend yield is 6.42%. Moreover, the company's dividend payouts have grown at a CAGR of 6.3% over the past three years.
On February 6, GLPI acquired the real estate assets of Tioga Downs Casino Resort in Nichols, NY, from American Racing &amp; Entertainment, LLC for $175.0 million. Further, GLPI and American Racing also entered into a triple-net master lease agreement for an initial 30-year term whose initial annual rent is $14.5 million.
Peter Carlino, GLPI's Chairman and CEO, stated, "We are pleased to add Tioga Downs to our portfolio and the new relationship with American Racing to our tenant roster. Tioga Downs further diversifies our portfolio, expanding it to 62 properties across 19 states with 8 tenants."
In terms of forward non-GAAP P/E, GLPI is trading at 15.83x, 53.2% lower than the industry average of 33.82x. Similarly, the stock's forward P/AFFO multiple of 12.34 is 17.8% lower than the industry average of 15.02.
GLPI's revenue and EBITDA have grown at respective CAGRs of 7.7% and 9.9% over the past three years. The company's EBIT has increased 11.6% over the same timeframe, and its net income and EPS have improved at CAGRs of 13.2% and 6.4%, respectively.
For the fourth quarter that ended December 31, 2023, GLPI's total income from real estate grew 9.7% year-over-year to $369.03 million. Its net income of $217.26 million and $0.78 per common share indicates 8.8% and 4% growth from the prior year's quarter, respectively. Further, the company's adjusted EBITDA came in at $331.41 million, an increase of 6.2% year-over-year.
Furthermore, the company's total assets as of December 31, 2023, were $11.81 billion compared to $10.93 billion as of December 31, 2022.
As per the company's guidance for the fiscal year 2024, GLPI expects its AFFO to be between $1.04 billion and $1.05 billion, or between $3.70 and $3.74 per share and OP units.
Analysts expect GLPI's FFO for the second quarter (ending June 2024) to increase 14.7% year-over-year to $0.95, and its revenue is expected to grow 4.5% year-over-year to $372.77 million. Moreover, the company has topped the consensus revenue estimates in each of the trailing four quarters, which is impressive.
Shares of GLPI have surged 2.8% over the past month to close the last trading session at $46.07.
GLPI's POWR Ratings reflect its bright prospects. The stock has an overall rating of B, which equates to a Buy in our proprietary rating system.
GLPI has a B grade for Stability, Sentiment, and Quality. It is ranked #3 among 46 stocks in the REITs - Diversified industry.
In addition to the POWR Ratings I've just highlighted, you can see GLPI's ratings for Growth, Value, and Momentum <a href="https://stocknews.com/stock/GLPI/">here</a>.
Stock #2: Lamar Advertising Company (<a href="https://stocknews.com/stock/LAMR/">LAMR</a>)
LAMR operates as an outdoor advertising company in the United States and Canada. It owns and operates billboards, logo signs, and transit advertising displays, along with rents space for advertising on billboards, buses, shelters, benches, logo plates, and airport terminals.
On February 22, 2024, LAMR's Board of Directors declared a quarterly cash dividend of $1.30 per share paid on March 28, 2024, to stockholders of record of Lamar's class A common stock and class B common stock on March 15, 2024.
LAMR pays an annual dividend of $5.20, which translates to a yield of 4.35% at the current share price. Its four-year average dividend yield is 4.41%. Also, the company's dividend payouts have increased at a CAGR of 30.9% over the past three years.
LAMR's trailing-12-month EBIT margin and net income margin of 31.86% and 23.44% are 52.4% and 150.9% higher than the respective industry averages of 20.90% and 9.34%.
LAMR's revenue and EBITDA have grown at respective CAGRs of 10.5% and 14% over the past three years. The company's EBIT has increased 18.9% over the same timeframe, while its net income and EPS have improved at CAGRs of 23.6% and 26.2%, respectively.
During the fourth quarter that ended December 31, 2023, LAMR's net revenues increased 3.8% year-over-year to $555.91 million. Its operating income grew 74.2% from the year-ago value to $191.71 million. Its adjusted funds from operations were $215 million and $2.10 per share, up 10.5% and 9.9% from the prior year's quarter.
In addition, the company's adjusted EBITDA came in at $268.16 million, up 6.3% year-over-year. Its free cash flow for the quarter increased 13.2% from the year-ago value to $180.29 million.
As per the company's guidance, LAMR expects net income per share for fiscal year 2024 to range between $5.02 and $5.07, and its AFFO per share is expected to be between $7.67 and $7.82.
Street expects LAMR's revenue for the fiscal year (ending December 2024) to increase 3.9% year-over-year to $2.19 billion, and its FFO is expected to grow 10.6% year-over-year to $8.32 for the current year. Further, the company has surpassed the consensus revenue estimates in all the trailing four quarters.
LAMR's shares have gained 44.9% over the past six months and 26.6% over the past year to close the last trading session at $119.41.
LAMR's sound fundamentals are reflected in its POWR Ratings. The stock has an overall rating of B, which translates to a Buy in our proprietary rating system.
The stock has a B grade for Quality. Within the same industry, LAMR is ranked #2 out of 46 stocks.
In addition to the POWR Ratings highlighted above, you can check LAMR's ratings for Growth, Value, Sentiment, Stability, and Momentum <a href="https://stocknews.com/stock/LAMR/">here</a>.
Stock #1: Daito Trust Construction Co., Ltd. (<a href="https://stocknews.com/stock/DIFTY/">DIFTY</a>)
Headquartered in Tokyo, Japan, DIFTY designs, constructs, and rents apartments and condominiums in Japan. The company operates in three segments: Construction; Real Estate; and Finance. It designs and constructs rental housing and other structures, ironwork and construction, building management and renovation, and whole building leasing.
DIFTY pays an annual dividend of $0.90, which translates to a yield of 3.21% at the prevailing share price. Also, its four-year average dividend yield is 4.31%.
In terms of trailing-12-month EV/EBITDA, DIFTY is trading at 7.94x, 51.9% lower than the industry average of 16.50x. Further, the stock's trailing-12-month Price/Sales multiple of 0.64 is 85.6% lower than the industry average of 4.48. Similarly, its trailing-12-month EV/EBIT of 9.32x is 72.4% lower than the industry average of 33.80x.
DIFTY's revenue has grown at a CAGR of 3.5% over the past three years. The company's tangible book value has increased 10.7% over the same timeframe, and its total assets have improved at a CAGR of 5.6%.
For the nine months that ended December 31, 2023, DIFTY's net sales increased 4.8% year-over-year to ¥1.27 trillion ($8.39 billion). Its gross profit grew 8.6% from the year-ago value to ¥205.37 billion ($1.36 billion). The company's operating income was ¥81.27 billion ($536.88 million), up 6.9% year-over-year.
Furthermore, DIFTY's net income of ¥60.15 billion ($397.32 million) indicates growth of 13.3% from the prior year's period.
Analysts expected DIFTY's revenue for the fiscal year (ended March 2024) to increase 230.7% year-over-year to $11.41 billion. Further, for the second quarter (ending September 2024), the company's revenue is expected to grow marginally year-over-year to $2.90 billion.
Over the past six months, the stock has soared  4.3% and 13.2% over the past year to close the last trading session at $27.93.
DIFTY's strong prospects are reflected in its POWR Ratings. The stock has an overall grade of B, translating to a Buy in our proprietary rating system.
DIFTY has an A grade for Stability and a B for Growth and Value. It has topped the list of 46 stocks within the REITs - Diversified industry.
To see the other ratings of DIFTY for Quality, Sentiment, and Momentum, <a href="https://stocknews.com/stock/DIFTY/">click here</a>.
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GLPI shares were unchanged in premarket trading Monday. Year-to-date, GLPI has declined -5.09%, versus a 10.39% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Mangeet Kaur Bouns</h2> <img src='https:/wp-content/uploads/2022/01/Mangeet-Kaur-Bouns_Image-4.jpg' style="float:left; padding:5px;width:125px;">Mangeet's keen interest in the stock market led her to become an investment researcher and financial journalist. Using her fundamental approach to analyzing stocks, Mangeet's looks to help retail investors understand the underlying factors before making investment decisions.<a href="https://stocknews.com/authors/?author=mangeet-kaurbouns">More...</a>The post <a href=https://stocknews.com/news/glpi-lamr-difty-ladr-wpc-top-4-diversified-reits-for-future-success/>Top 4 Diversified REITs for Future Success</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

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