Warren Buffett Bought This REIT: Should We Too?

Warren Buffett, often called the Oracle of Omaha, is a truly legendary investor.

But his success, as he and his late, longtime business partner Charlie Munger would often point out, was not due to a brilliant and complicated investment strategy. It didn’t come from taking big risks or actively trading.

It came simply from buying and holding high-quality, stable businesses for the long run.

The secret to Buffett’s success isn’t buying at the exact bottom or owning only the highest growth stocks or using some sort of financial instruments to gain an edge. Rather, the secret is simply time, consistency, and the discipline to stay the course.

Owning great businesses with great assets and a great management team for long periods of time is the deceptively simple path to riches in the stock market. It always has been.

That makes it interesting to see that Buffett recently opened a position in a specialized real estate investment trust (”REIT”) called Lamar Advertising (LAMR). In Q2 2025, Berkshire Hathaway (BRK.A, BRK.B) bought 1.17 million shares in the company, representing 1.15% of the common stock, valued at the time at about $144 million.

According to 13F filings, Berkshire acquired shares at an average price of about $116 per share. As of this writing, LAMR trades at less than 5% above Berkshire’s cost basis.

In what follows, we explain the likely reasons why Buffett was attracted to LAMR and then make the case that there are many similarly attractive buying opportunities in the REIT space today.

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