Public Employees Retirement System of Ohio Acquires 68,806 Shares of Lamar Advertising Company $LAMR

Public Employees Retirement System of Ohio increased its holdings in Lamar Advertising Company (NASDAQ:LAMR) by 109.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 131,749 shares of the real estate investment trust’s stock after purchasing an additional 68,806 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Lamar Advertising were worth $16,687,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Tucker Asset Management LLC purchased a new stake in Lamar Advertising during the fourth quarter valued at about $25,000. Sound Income Strategies LLC increased its holdings in shares of Lamar Advertising by 151.0% in the fourth quarter. Sound Income Strategies LLC now owns 251 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 151 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Lamar Advertising in the third quarter worth about $33,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Lamar Advertising in the 3rd quarter valued at about $39,000. Finally, Larson Financial Group LLC lifted its stake in shares of Lamar Advertising by 48.1% in the 4th quarter. Larson Financial Group LLC now owns 317 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 103 shares during the last quarter. 93.78% of the stock is owned by institutional investors.

Lamar Advertising Stock Performance

Shares of NASDAQ:LAMR opened at $159.46 on Friday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 3.33. The company has a 50-day moving average price of $154.55 and a 200-day moving average price of $140.64. The company has a market cap of $16.18 billion, a price-to-earnings ratio of 29.42 and a beta of 1.19. Lamar Advertising Company has a 12 month low of $113.66 and a 12 month high of $164.38.

Lamar Advertising (NASDAQ:LAMR) last posted its earnings results on Thursday, May 7th. The real estate investment trust reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.18. Lamar Advertising had a return on equity of 55.53% and a net margin of 24.01%.The company had revenue of $528.00 million for the quarter, compared to analysts’ expectations of $522.86 million. As a group, equities analysts anticipate that Lamar Advertising Company will post 8.41 EPS for the current year.

Lamar Advertising Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were issued a $1.60 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $6.40 annualized dividend and a yield of 4.0%. Lamar Advertising’s dividend payout ratio (DPR) is 118.08%.

Wall Street Analyst Weigh In

LAMR has been the topic of several recent research reports. JPMorgan Chase & Co. restated a “neutral” rating and set a $153.00 price target on shares of Lamar Advertising in a research report on Wednesday. Citigroup downgraded Lamar Advertising from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $145.00 to $160.00 in a research report on Friday, July 10th. Wells Fargo & Company increased their price objective on Lamar Advertising from $136.00 to $150.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Weiss Ratings restated a “buy (b)” rating on shares of Lamar Advertising in a report on Friday, May 22nd. Finally, Morgan Stanley set a $145.00 target price on shares of Lamar Advertising in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $154.67.

Lamar Advertising Company Profile

Lamar Advertising Company (NASDAQ: LAMR) is one of North America’s largest outdoor advertising firms, specializing in out-of-home media solutions. Since its founding in 1902, the company has grown through a combination of organic expansion and strategic acquisitions to offer a broad portfolio of advertising products. Its core business centers on billboard advertising, encompassing traditional static billboards and a rapidly expanding network of digital displays. These assets enable advertisers to reach consumers with high-impact messaging along highways, in urban centers, and at high-traffic intersections.

In addition to highway billboards, Lamar offers a variety of supplemental out-of-home formats, including transit advertising on buses and shelters, and logo signage at travel plazas and gas stations.