New York State Common Retirement Fund Has $5.98 Million Holdings in Lamar Advertising (NASDAQ:LAMR)

New York State Common Retirement Fund lowered its stake in Lamar Advertising (NASDAQ:LAMR - Free Report) by 6.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 49,155 shares of the real estate investment trust's stock after selling 3,659 shares during the quarter. New York State Common Retirement Fund's holdings in Lamar Advertising were worth $5,984,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of LAMR. Janus Henderson Group PLC grew its holdings 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 buying an additional 119,068 shares during the period. State Street Corp raised its position in shares of Lamar Advertising by 0.8% during the third quarter. State Street Corp now owns 2,640,356 shares of the real estate investment trust's stock worth $352,752,000 after purchasing an additional 21,852 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Lamar Advertising by 4.6% during the 3rd 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 purchasing an additional 90,775 shares in the last quarter. Wellington Management Group LLP grew its position in shares of 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 valued at $263,840,000 after purchasing an additional 617,356 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Lamar Advertising by 6.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,497,702 shares of the real estate investment trust's stock worth $200,093,000 after purchasing an additional 90,933 shares in the last quarter. 93.78% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

Several brokerages have recently issued reports on LAMR. Citigroup increased their price objective on shares of Lamar Advertising from $121.76 to $128.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 25th. Morgan Stanley boosted their price target on Lamar Advertising from $125.00 to $135.00 and gave the company an "equal weight" rating in a report on Monday, November 11th. Wells Fargo & Company decreased their price objective on Lamar Advertising from $132.00 to $124.00 and set an "equal weight" rating for the company in a report on Monday, November 11th. JPMorgan Chase & Co. cut their target price on Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating on the stock in a research note on Friday, February 21st. Finally, TD Cowen raised their price target on shares of Lamar Advertising from $142.00 to $160.00 and gave the stock a "buy" rating in a research note on Monday, November 11th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Lamar Advertising currently has a consensus rating of "Hold" and a consensus price target of $134.60.

Lamar Advertising Stock Up 0.2 %

NASDAQ LAMR traded up $0.26 during trading hours on Monday, hitting $124.49. 289,164 shares of the company traded hands, compared to its average volume of 421,872. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.56 and a current ratio of 0.56. The business's 50-day moving average is $124.45 and its 200-day moving average is $127.83. The stock has a market capitalization of $12.75 billion, a price-to-earnings ratio of 35.21 and a beta of 1.51. 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 released its quarterly earnings data on Thursday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, beating the consensus estimate of $1.47 by $0.74. The company had revenue of $579.57 million during the quarter, compared to the consensus estimate of $583.19 million. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. Sell-side analysts anticipate that Lamar Advertising will post 7.92 earnings per share for the current year.

Lamar Advertising Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a dividend of $1.55 per share. The ex-dividend date is Friday, March 14th. This is a positive change from Lamar Advertising's previous quarterly dividend of $1.40. This represents a $6.20 annualized dividend and a dividend yield of 4.98%. Lamar Advertising's payout ratio is currently 175.64%.

Lamar Advertising 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.