Lamar Advertising (NASDAQ:LAMR) Shares Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its stake in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 75.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,949 shares of the real estate investment trust's stock after purchasing an additional 24,866 shares during the quarter. Teacher Retirement System of Texas owned about 0.06% of Lamar Advertising worth $7,055,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in LAMR. Janus Henderson Group PLC increased its position in shares of Lamar Advertising by 2.9% in the 3rd quarter. Janus Henderson Group PLC now owns 4,248,660 shares of the real estate investment trust's stock valued at $567,632,000 after acquiring an additional 119,068 shares during the period. State Street Corp increased its holdings in shares of Lamar Advertising by 0.8% in the third quarter. State Street Corp now owns 2,640,356 shares of the real estate investment trust's stock valued at $352,752,000 after purchasing an additional 21,852 shares during the period. Boston Partners lifted its holdings in shares of Lamar Advertising by 6.7% during the fourth quarter. Boston Partners now owns 2,423,981 shares of the real estate investment trust's stock worth $295,122,000 after purchasing an additional 152,575 shares during the period. Geode Capital Management LLC boosted its position in Lamar Advertising by 4.6% in the third quarter. Geode Capital Management LLC now owns 2,054,962 shares of the real estate investment trust's stock valued at $274,595,000 after buying an additional 90,775 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in Lamar Advertising by 45.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,974,848 shares of the real estate investment trust's stock worth $263,840,000 after buying an additional 617,356 shares during the period. Hedge funds and other institutional investors own 93.78% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LAMR. JPMorgan Chase & Co. decreased their target price on shares of Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating for the company in a research report on Friday, February 21st. Citigroup increased their price target on Lamar Advertising from $121.76 to $128.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 25th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Lamar Advertising has an average rating of "Hold" and an average price target of $134.60.

Lamar Advertising Price Performance

NASDAQ LAMR traded down $1.43 during mid-day trading on Thursday, hitting $112.55. The stock had a trading volume of 486,072 shares, compared to its average volume of 439,315. The firm's 50 day moving average is $122.82 and its 200 day moving average is $127.09. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market capitalization of $11.52 billion, a price-to-earnings ratio of 31.88 and a beta of 1.53. Lamar Advertising has a twelve month low of $108.80 and a twelve month high of $139.88.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share for the quarter, topping analysts' consensus estimates of $1.47 by $0.74. The firm had revenue of $579.57 million for the quarter, compared to analyst estimates of $583.19 million. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. Equities research analysts forecast that Lamar Advertising will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $1.55 per share. This is a boost from Lamar Advertising's previous quarterly dividend of $1.40. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.20 annualized dividend and a dividend yield of 5.51%. Lamar Advertising's payout ratio is presently 175.64%.

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.