This one has been on my radar for quite some time. Whenever I drive somewhere I would constantly see their billboards and wonder what a beautifully passive business this is. From understanding perspective, their business model and how they make money can be explained to a child and understood by most individuals. Thus I always wanted to own a part of it and would check constantly if the price is at reasonable levels for me to possible buy into it. Well, I’ve waited and waited and my patience has been rewarded as the price had a nice dip here to 2016 price levels. Now, every time I drive past one of their billboards it gives me warm and fluffy feel good feeling that I am part owner of this great real estate advertising behemoth and that my portion of profits is in route.
Company Overview:
Lamar Advertising Company was founded in 1902 and is headquartered in Baton Rouge, Louisiana. Essentially, the company is a real estate investment trust that primarily engages in outdoor advertising space on billboards, buses, shelters, benches, and logo plates. It is currently one of the largest outdoor advertising companies in the world, with more than 330,000 displays across the United States, Canada and Puerto Rico.
Statistics:
- Dividend Yield: 5.1%
- 3Yr Dividend Growth Rate: N/A
- Payout Ratio: 103.2%
- P/E: 20.9
- Consecutive Years of Dividend Raises: 1
- Dividend Payout: Quarterly
I purchased 32 shares of Lamar Advertising Co. (LAMR) for the price of $64.80 per share for a total investment of $2,073.60 adding around $106.24 to my annual dividend income.
This is the 7th time I am initiating a stock acquisition this year. This transaction is my first ever purchase of LAMR shares into the portfolio. Currently, LAMR ownership stake represents to be around 1.9% of my current portfolio value. Also, the acquisition of LAMR makes it the 40th company I am invested in.
Conclusion:
The Portfolio “The Dividend Machine” has been updated with link > here.
Thank you for reading & have a great day!
