Louisiana State Employees Retirement System Raises Position in Lamar Advertising Company (NASDAQ:LAMR)

Louisiana State Employees Retirement System increased its stake in Lamar Advertising Company (NASDAQ:LAMR) by 0.8% in the first quarter, Holdings Channel.com reports. The institutional investor owned 24,600 shares of the real estate investment trust’s stock after purchasing an additional 200 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Lamar Advertising were worth $2,799,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Golden State Wealth Management LLC acquired a new stake in shares of Lamar Advertising in the first quarter valued at about $28,000. ST Germain D J Co. Inc. grew its stake in shares of Lamar Advertising by 346.0% in the first quarter. ST Germain D J Co. Inc. now owns 281 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 218 shares in the last quarter. Bessemer Group Inc. increased its stake in Lamar Advertising by 106.7% during the 4th quarter. Bessemer Group Inc. now owns 277 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 143 shares during the period. Wayfinding Financial LLC purchased a new stake in Lamar Advertising during the 1st quarter worth $60,000. Finally, McIlrath & Eck LLC increased its stake in Lamar Advertising by 175.1% during the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the real estate investment trust’s stock worth $86,000 after buying an additional 450 shares during the period. Institutional investors and hedge funds own 93.78% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Morgan Stanley dropped their price target on shares of Lamar Advertising from $135.00 to $125.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 1st. Citigroup raised shares of Lamar Advertising from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $114.00 to $135.00 in a research note on Thursday, May 29th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $134.00.

Lamar Advertising Stock Performance

Lamar Advertising stock opened at $125.67 on Monday. The firm’s fifty day moving average price is $119.90 and its 200 day moving average price is $119.14. The company has a market capitalization of $12.87 billion, a price-to-earnings ratio of 30.50 and a beta of 1.33. Lamar Advertising Company has a 12-month low of $99.84 and a 12-month high of $139.88. The company has a debt-to-equity ratio of 2.89, a current ratio of 0.57 and a quick ratio of 0.57.

Lamar Advertising (NASDAQ:LAMR) last released its earnings results on Thursday, May 8th. The real estate investment trust reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.06. The company had revenue of $505.43 million during the quarter, compared to the consensus estimate of $509.72 million. Lamar Advertising had a net margin of 19.08% and a return on equity of 37.62%. On average, research analysts forecast that Lamar Advertising Company will post 7.92 EPS for the current fiscal year.

Lamar Advertising Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 4.93%. The ex-dividend date was Monday, June 16th. Lamar Advertising’s payout ratio is currently 150.49%.

Lamar Advertising Company 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.