Lamar Advertising acquired Verde Outdoor's assets, adding over 1,500 billboards through a UPREIT transaction, enhancing its market presence.
Quiver AI Summary
Lamar Advertising Company announced the acquisition of Verde Outdoor in the first UPREIT transaction in the billboard industry. Closed on July 2, 2025, the deal adds over 1,500 billboard faces, including 80 digital displays, to Lamar's portfolio across 10 states, enhancing its presence in the Midwest, Southeast, and Mid-Atlantic regions. Verde Outdoor, founded in 2021 by Ernest C. Garcia II, grew rapidly through strategic acquisitions and organic development before partnering with Lamar. Under the UPREIT structure, Verde's owners received common units of Lamar's operating subsidiary, which allows for tax-deferred acquisitions and cash distributions aligned with Lamar's common stock dividends. The acquisition is seen as a significant milestone for Lamar, with expectations for future similar transactions.
Potential Positives
- Lamar Advertising Company has successfully acquired over 1,500 billboard faces, including 80 digital displays, significantly enhancing its advertising portfolio.
- The acquisition expands Lamar's market presence in key areas across the Midwest, Southeast, and Mid-Atlantic regions.
- This transaction marks the first-ever UPREIT transaction in the billboard industry, positioning Lamar as a pioneer in using innovative structures for acquisitions.
- The deal provides Verde Outdoor's former owners with a tax-efficient exit strategy, enhancing Lamar's appeal as a partner for future acquisitions.
Potential Negatives
- Utilizing an UPREIT structure may introduce complexities and regulatory scrutiny that could impact future transactions and operations.
- The reliance on tax-deferred transactions may limit fiscal flexibility and strategic options moving forward.
- The rapid expansion and acquisition strategy may lead to integration challenges or operational risks associated with managing a larger portfolio.
FAQ
What is the significance of Lamar's acquisition of Verde Outdoor?
The acquisition marks the first-ever UPREIT transaction in the billboard industry, expanding Lamar's portfolio significantly.
How many billboard faces did Lamar acquire from Verde Outdoor?
Lamar acquired more than 1,500 billboard faces, including 80 digital displays, through this transaction.
What is the role of the UPREIT structure in this acquisition?
The UPREIT structure allows Lamar to issue partnership units on a tax-deferred basis, facilitating strategic acquisitions.
Who are the founders of Verde Outdoor?
Verde Outdoor was launched in 2021 by Ernest C. Garcia II and his partners.
What benefits do holders of Lamar LP common units receive?
Holders receive cash distributions equivalent to the dividends paid on Lamar's common stock and can convert units into cash or shares.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$LAMR Insider Trading Activity
$LAMR insiders have traded $LAMR stock on the open market 1 times in the past 6 months. Of those trades, 1 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $LAMR stock by insiders over the last 6 months:
- NANCY FLETCHER purchased 235 shares for an estimated $28,947
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$LAMR Hedge Fund Activity
We have seen 316 institutional investors add shares of $LAMR stock to their portfolio, and 243 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- COHEN & STEERS, INC. added 1,482,692 shares (+55.7%) to their portfolio in Q1 2025, for an estimated $168,700,695
- FMR LLC removed 1,311,798 shares (-23.7%) from their portfolio in Q1 2025, for an estimated $149,256,376
- AQR CAPITAL MANAGEMENT LLC added 533,959 shares (+426.0%) to their portfolio in Q1 2025, for an estimated $60,753,855
- DAIWA SECURITIES GROUP INC. added 388,971 shares (+43.0%) to their portfolio in Q1 2025, for an estimated $44,257,120
- MORGAN STANLEY removed 385,452 shares (-20.1%) from their portfolio in Q1 2025, for an estimated $43,856,728
- MAKAIRA PARTNERS LLC removed 306,223 shares (-57.7%) from their portfolio in Q1 2025, for an estimated $34,842,052
- CAPITAL WORLD INVESTORS removed 300,302 shares (-25.0%) from their portfolio in Q1 2025, for an estimated $34,168,361
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$LAMR Analyst Ratings
Wall Street analysts have issued reports on $LAMR in the last several months. We have seen 1 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Citigroup issued a "Buy" rating on 05/29/2025
To track analyst ratings and price targets for $LAMR, check out Quiver Quantitative's $LAMR forecast page.
Full Release
BATON ROUGE, La., July 07, 2025 (GLOBE NEWSWIRE) -- Lamar Advertising Company (Nasdaq: LAMR) (“Lamar” or the “Company”), a leading owner and operator of outdoor advertising assets, announced today that it has acquired the assets of Verde Outdoor in the first-ever UPREIT transaction in the billboard industry.
The acquisition, which closed on July 2, brought more than 1,500 billboard faces, including 80 digital displays, across 10 states to Lamar’s portfolio. The acquisition expands Lamar’s presence in key markets in the Midwest, Southeast and Mid-Atlantic.
Verde Outdoor was launched in 2021 by Ernest C. Garcia II and partners with acquisitions in Sioux City, Charleston and Savannah. Verde expanded rapidly over the next four years through strategic acquisitions in Hudson Valley, New York and the Mid-Atlantic and through organic development.
In this transaction, Verde contributed its assets to Lamar Advertising Limited Partnership (“Lamar LP”), the operating partnership subsidiary of Lamar that holds the Company’s assets. In return, the owners of Verde received common units of Lamar LP, with each common unit of Lamar LP designed to track the value of a share of Lamar’s Class A common stock. Holders of the Lamar LP common units receive cash distributions on each common unit in an amount equal to the per share dividend paid on Lamar’s common stock. Common units of Lamar LP are convertible into cash or shares of Class A common stock of Lamar.
The transaction was enabled by Lamar’s organization as an UPREIT, or Umbrella Partnership Real Estate Investment Trust. This structure allows Lamar to issue partnership units of Lamar LP to billboard owners on a tax-deferred basis in connection with acquisitions.
“This deal represents a significant milestone for Lamar,” said Sean Reilly, Lamar’s Chief Executive Officer. “We’re thrilled to have Ernie and the other Verde owners as partners, and we expect this UPREIT structure to become a template for future acquisitions with owners who want to diversify their asset bases in a tax-efficient manner.”
“When the Reilly family approached me about an acquisition, they promised a compelling value for Verde Outdoor’s assets, an attractive and tax-efficient deal structure and a smooth closing process,” Garcia said. “They delivered on all fronts.”
Johnsen, Fretty & Co., LLC, acted as financial advisor to Verde, while Snell & Wilmer acted as legal advisor. Kean Miller LLP and Hogan Lovells US LLP acted as legal advisors to Lamar.
| Company Contact: | Buster Kantrow |
| (225) 926-1000 | |
| [email protected] |
