Lamar Advertising (NASDAQ:LAMR) Shares Acquired by Retirement Systems of Alabama

Retirement Systems of Alabama increased its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 0.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 106,924 shares of the real estate investment trust’s stock after purchasing an additional 168 shares during the quarter. Retirement Systems of Alabama’s holdings in Lamar Advertising were worth $13,017,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of LAMR. Blue Trust Inc. grew its position in shares of Lamar Advertising by 444.1% during the third quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 151 shares in the last quarter. Brooklyn Investment Group purchased a new position in Lamar Advertising in the third quarter worth approximately $25,000. Concord Wealth Partners purchased a new position in Lamar Advertising in the third quarter worth approximately $26,000. Assetmark Inc. grew its holdings in Lamar Advertising by 109.3% during the 3rd quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 117 shares in the last quarter. Finally, Versant Capital Management Inc increased its position in shares of Lamar Advertising by 46.6% in the 4th quarter. Versant Capital Management Inc now owns 450 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 143 shares during the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Lamar Advertising Stock Up 0.9 %

LAMR opened at $127.73 on Friday. The stock has a market capitalization of $13.07 billion, a P/E ratio of 25.55 and a beta of 1.51. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.56 and a current ratio of 0.56. Lamar Advertising has a one year low of $102.10 and a one year high of $139.88. The business’s 50-day simple moving average is $125.37 and its 200-day simple moving average is $126.69.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings data on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). The firm had revenue of $564.10 million during the quarter, compared to analysts’ expectations of $568.91 million. Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. Lamar Advertising’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.04 EPS. Analysts anticipate that Lamar Advertising will post 7.49 EPS for the current year.

Lamar Advertising Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Investors of record on Wednesday, December 18th were given a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $5.60 annualized dividend and a yield of 4.38%. Lamar Advertising’s dividend payout ratio (DPR) is 112.00%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on LAMR shares. TD Cowen lifted their price objective on shares of Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. StockNews.com cut Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Morgan Stanley raised their target price on Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Finally, Wells Fargo & Company lowered their price target on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $132.40.

Lamar Advertising Profile

Lamar Advertising Company operates as an outdoor advertising company in the United States and Canada. The company owns and operates billboards, logo signs, and transit advertising displays, as well as rents space for advertising on billboards, buses, shelters, benches, logo plates, and in airport terminals.