Ontario Teachers Pension Plan Board Cuts Stock Holdings in Lamar Advertising (NASDAQ:LAMR)

Ontario Teachers Pension Plan Board cut its stake in Lamar Advertising (NASDAQ:LAMR - Free Report) by 25.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,014 shares of the real estate investment trust's stock after selling 6,576 shares during the period. Ontario Teachers Pension Plan Board's holdings in Lamar Advertising were worth $2,540,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA increased its position in shares of Lamar Advertising by 81.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 937,440 shares of the real estate investment trust's stock worth $112,052,000 after acquiring an additional 420,311 shares during the period. Los Angeles Capital Management LLC purchased a new position in Lamar Advertising during the 3rd quarter worth $43,665,000. International Assets Investment Management LLC raised its position in Lamar Advertising by 49,140.4% during the 3rd quarter. International Assets Investment Management LLC now owns 285,102 shares of the real estate investment trust's stock valued at $38,090,000 after purchasing an additional 284,523 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings in shares of Lamar Advertising by 42,096.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 126,167 shares of the real estate investment trust's stock worth $16,856,000 after buying an additional 125,868 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. bought a new position in shares of Lamar Advertising during the 3rd quarter worth $12,838,000. Hedge funds and other institutional investors own 93.78% of the company's stock.

Wall Street Analyst Weigh In

LAMR has been the subject of several recent research reports. 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. upped their price target on shares of Lamar Advertising from $117.00 to $121.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 31st. StockNews.com downgraded shares of Lamar Advertising from a "buy" rating to a "hold" rating in a research note on Monday, November 11th. Morgan Stanley boosted their price objective on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Monday, November 11th. Finally, TD Cowen increased their target price on Lamar Advertising from $142.00 to $160.00 and gave the company a "buy" rating in a research report on Monday, November 11th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $132.40.

Lamar Advertising Stock Down 0.1 %

NASDAQ:LAMR traded down $0.14 during midday trading on Wednesday, reaching $127.54. 239,145 shares of the stock traded hands, compared to its average volume of 409,662. The business has a 50-day moving average of $132.30 and a two-hundred day moving average of $123.57. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.56 and a current ratio of 0.56. Lamar Advertising has a 12-month low of $97.21 and a 12-month high of $139.88. The stock has a market capitalization of $13.05 billion, a PE ratio of 25.54 and a beta of 1.52.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last issued its quarterly earnings results on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share for the quarter, missing analysts' consensus estimates of $2.17 by ($0.73). The business had revenue of $564.10 million for the quarter, compared to analysts' expectations of $568.91 million. Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. Lamar Advertising's revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.04 EPS. On average, equities analysts forecast that Lamar Advertising will post 7.75 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Wednesday, September 18th were paid a $1.40 dividend. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $5.60 dividend on an annualized basis and a yield of 4.39%. This is a boost from Lamar Advertising's previous quarterly dividend of $1.30. Lamar Advertising's dividend payout ratio (DPR) is currently 112.00%.

About Lamar Advertising

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.