New York State Common Retirement Fund raised its position in shares of Lamar Advertising Company (NASDAQ:LAMR) by 7.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 196,280 shares of the real estate investment trust’s stock after purchasing an additional 13,499 shares during the period. New York State Common Retirement Fund owned 0.20% of Lamar Advertising worth $14,440,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in LAMR. Russell Investments Group Ltd. grew its holdings in Lamar Advertising by 9.8% during the first quarter. Russell Investments Group Ltd. now owns 37,892 shares of the real estate investment trust’s stock valued at $2,833,000 after purchasing an additional 3,367 shares during the period. UBS Asset Management Americas Inc. grew its holdings in Lamar Advertising by 13.4% during the first quarter. UBS Asset Management Americas Inc. now owns 59,329 shares of the real estate investment trust’s stock valued at $4,434,000 after purchasing an additional 7,024 shares during the period. Parametric Portfolio Associates LLC grew its holdings in Lamar Advertising by 7.7% during the first quarter. Parametric Portfolio Associates LLC now owns 117,426 shares of the real estate investment trust’s stock valued at $8,776,000 after purchasing an additional 8,427 shares during the period. Virginia Retirement Systems ET AL bought a new position in Lamar Advertising during the first quarter valued at $404,000. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in Lamar Advertising by 17.5% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 7,234 shares of the real estate investment trust’s stock valued at $541,000 after purchasing an additional 1,077 shares during the period. 85.05% of the stock is owned by institutional investors and hedge funds.

A number of research firms have recently commented on LAMR. ValuEngine raised Lamar Advertising from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Zacks Investment Research raised Lamar Advertising from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. Wells Fargo & Company lowered Lamar Advertising from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 26th. BidaskClub lowered Lamar Advertising from a “hold” rating to a “sell” rating in a report on Monday, July 17th. Finally, Loop Capital reaffirmed a “buy” rating and issued a $87.00 price target on shares of Lamar Advertising in a report on Friday, June 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $73.00.

Lamar Advertising Company (NASDAQ:LAMR) opened at 67.92 on Thursday. Lamar Advertising Company has a 12-month low of $58.68 and a 12-month high of $79.09. The stock has a 50 day moving average price of $65.31 and a 200-day moving average price of $70.11.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings data on Tuesday, August 8th. The real estate investment trust reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.31 by ($0.37). Lamar Advertising had a net margin of 19.75% and a return on equity of 28.21%. The business had revenue of $397.10 million for the quarter, compared to the consensus estimate of $399.09 million. During the same period in the previous year, the firm earned $0.84 EPS. The company’s revenue was up 2.5% on a year-over-year basis. On average, analysts predict that Lamar Advertising Company will post $3.11 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date of this dividend was Thursday, September 14th. Lamar Advertising’s payout ratio is 109.21%.

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About Lamar Advertising

Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment. The Company sells advertising on billboards, buses, shelters, benches and logo plates. It operates three types of outdoor advertising displays: billboards, logo signs and transit advertising displays.

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Institutional Ownership by Quarter for Lamar Advertising (NASDAQ:LAMR)

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