Lamar Advertising Company $LAMR Shares Purchased by New York State Teachers Retirement System

New York State Teachers Retirement System boosted its position in Lamar Advertising Company (NASDAQ:LAMR) by 0.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 104,838 shares of the real estate investment trust’s stock after acquiring an additional 100 shares during the quarter. New York State Teachers Retirement System’s holdings in Lamar Advertising were worth $12,723,000 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 added to or reduced their stakes in LAMR. Wealth Enhancement Advisory Services LLC boosted its holdings in Lamar Advertising by 17.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 42,394 shares of the real estate investment trust’s stock valued at $4,824,000 after acquiring an additional 6,171 shares during the last quarter. Segment Wealth Management LLC boosted its holdings in Lamar Advertising by 14.0% in the first quarter. Segment Wealth Management LLC now owns 3,470 shares of the real estate investment trust’s stock valued at $395,000 after acquiring an additional 427 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Lamar Advertising by 67.2% in the first quarter. Oppenheimer Asset Management Inc. now owns 5,057 shares of the real estate investment trust’s stock valued at $575,000 after acquiring an additional 2,033 shares during the last quarter. Oppenheimer & Co. Inc. boosted its holdings in Lamar Advertising by 3.4% in the first quarter. Oppenheimer & Co. Inc. now owns 16,940 shares of the real estate investment trust’s stock valued at $1,927,000 after acquiring an additional 560 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its holdings in Lamar Advertising by 19.1% in the first quarter. Asset Management One Co. Ltd. now owns 157,173 shares of the real estate investment trust’s stock valued at $17,883,000 after acquiring an additional 25,259 shares during the last quarter. Institutional investors and hedge funds own 93.78% of the company’s stock.

Lamar Advertising Stock Up 0.8%

Shares of NASDAQ LAMR opened at $119.02 on Friday. Lamar Advertising Company has a 1 year low of $99.84 and a 1 year high of $137.47. The firm has a market cap of $12.05 billion, a price-to-earnings ratio of 27.68 and a beta of 1.37. The company has a debt-to-equity ratio of 3.45, a quick ratio of 0.58 and a current ratio of 0.58. The stock’s 50-day simple moving average is $123.39 and its 200-day simple moving average is $120.07.

Lamar Advertising (NASDAQ:LAMR) last announced its earnings results on Friday, August 8th. The real estate investment trust reported $2.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.74. Lamar Advertising had a return on equity of 41.85% and a net margin of 19.72%.The business had revenue of $579.31 million for the quarter, compared to analyst estimates of $580.72 million. Lamar Advertising has set its FY 2025 guidance at 6.090-6.11 EPS. As a group, equities analysts anticipate that Lamar Advertising Company will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 19th were given a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend was Friday, September 19th. Lamar Advertising’s payout ratio is presently 144.19%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LAMR. JPMorgan Chase & Co. reduced their target price on Lamar Advertising from $125.00 to $122.00 and set a “neutral” rating on the stock in a report on Monday, August 11th. Morgan Stanley raised their price objective on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research report on Monday, August 4th. Weiss Ratings reissued a “buy (b-)” rating on shares of Lamar Advertising in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company cut their price objective on Lamar Advertising from $122.00 to $119.00 and set an “equal weight” rating on the stock in a research report on Monday, August 11th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Lamar Advertising currently has an average rating of “Moderate Buy” and a consensus price target of $134.20.

Insider Activity

In other news, CFO Jay Lecoryelle Johnson sold 22,000 shares of Lamar Advertising stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $124.28, for a total transaction of $2,734,160.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 14.99% of the company’s stock.

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.