Retirement Systems of Alabama boosted its holdings in shares of Lamar Advertising Co (NASDAQ:LAMR) by 0.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 198,572 shares of the real estate investment trust’s stock after purchasing an additional 960 shares during the period. Retirement Systems of Alabama owned approximately 0.20% of Lamar Advertising worth $13,737,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Russell Investments Group Ltd. raised its position in Lamar Advertising by 9.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 23,172 shares of the real estate investment trust’s stock valued at $1,583,000 after purchasing an additional 2,000 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Lamar Advertising by 8.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,064,662 shares of the real estate investment trust’s stock valued at $72,728,000 after purchasing an additional 82,189 shares during the last quarter. FMR LLC raised its position in Lamar Advertising by 87.2% during the 2nd quarter. FMR LLC now owns 588,216 shares of the real estate investment trust’s stock valued at $40,181,000 after purchasing an additional 274,070 shares during the last quarter. Baird Financial Group Inc. raised its position in Lamar Advertising by 50.4% during the 2nd quarter. Baird Financial Group Inc. now owns 11,140 shares of the real estate investment trust’s stock valued at $761,000 after purchasing an additional 3,732 shares during the last quarter. Finally, Glen Harbor Capital Management LLC raised its position in Lamar Advertising by 79.8% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 9,408 shares of the real estate investment trust’s stock valued at $643,000 after purchasing an additional 4,176 shares during the last quarter. 81.29% of the stock is currently owned by institutional investors.

LAMR stock opened at $72.81 on Friday. Lamar Advertising Co has a fifty-two week low of $61.36 and a fifty-two week high of $80.68. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 2.30. The company has a market cap of $7.09 billion, a price-to-earnings ratio of 14.42 and a beta of 1.07.

Lamar Advertising (NASDAQ:LAMR) last posted its earnings results on Thursday, November 8th. The real estate investment trust reported $0.95 earnings per share for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.44). Lamar Advertising had a return on equity of 27.51% and a net margin of 18.57%. The firm had revenue of $418.50 million for the quarter, compared to analysts’ expectations of $421.29 million. During the same quarter last year, the company posted $0.98 EPS. The firm’s revenue was up 4.8% on a year-over-year basis. On average, analysts expect that Lamar Advertising Co will post 5.12 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 28th. Shareholders of record on Monday, December 17th were issued a dividend of $0.92 per share. This is an increase from Lamar Advertising’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend was Friday, December 14th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 5.05%. Lamar Advertising’s dividend payout ratio is 72.87%.

A number of research analysts have commented on LAMR shares. Zacks Investment Research raised Lamar Advertising from a “hold” rating to a “buy” rating and set a $81.00 price target for the company in a research report on Tuesday, December 11th. BidaskClub raised Lamar Advertising from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 15th. Wolfe Research started coverage on Lamar Advertising in a research report on Friday, December 7th. They set an “underperform” rating for the company. Morgan Stanley upped their target price on Lamar Advertising from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, December 7th. Finally, ValuEngine downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Two analysts have rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $78.33.

In related news, CFO Keith A. Istre sold 20,791 shares of the company’s stock in a transaction that occurred on Monday, November 12th. The stock was sold at an average price of $76.64, for a total value of $1,593,422.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 15.64% of the company’s stock.

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About Lamar Advertising

Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with more than 348,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day.

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

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