Public Employees Retirement Association of Colorado Has $27.93 Million Holdings in Lamar Advertising (NASDAQ:LAMR)

Public Employees Retirement Association of Colorado raised its stake in shares of Lamar Advertising (NASDAQ:LAMR - Free Report) by 2,424.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 229,422 shares of the real estate investment trust's stock after purchasing an additional 220,334 shares during the period. Public Employees Retirement Association of Colorado owned approximately 0.22% of Lamar Advertising worth $27,930,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Rialto Wealth Management LLC bought a new position in shares of Lamar Advertising in the fourth quarter valued at approximately $25,000. Bessemer Group Inc. lifted its stake in Lamar Advertising by 106.7% during the 4th quarter. Bessemer Group Inc. now owns 277 shares of the real estate investment trust's stock valued at $34,000 after acquiring an additional 143 shares in the last quarter. Blue Trust Inc. lifted its stake in Lamar Advertising by 58.4% during the 4th quarter. Blue Trust Inc. now owns 293 shares of the real estate investment trust's stock valued at $39,000 after acquiring an additional 108 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Lamar Advertising by 46.6% during the 4th quarter. Versant Capital Management Inc now owns 450 shares of the real estate investment trust's stock worth $55,000 after acquiring an additional 143 shares during the last quarter. Finally, Avior Wealth Management LLC grew its stake in shares of Lamar Advertising by 16.8% in the 4th quarter. Avior Wealth Management LLC now owns 584 shares of the real estate investment trust's stock worth $71,000 after acquiring an additional 84 shares in the last quarter. 93.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

LAMR has been the subject of several analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Lamar Advertising from $129.00 to $126.00 and set a "neutral" rating for the company in a research note on Friday, February 21st. Citigroup upped their price objective on Lamar Advertising from $121.76 to $128.00 and gave the company a "neutral" rating in a research note on Tuesday, February 25th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Lamar Advertising currently has an average rating of "Hold" and a consensus target price of $134.60.

Lamar Advertising Trading Down 0.1 %

Shares of LAMR opened at $112.12 on Friday. The firm has a market cap of $11.48 billion, a P/E ratio of 31.76 and a beta of 1.34. Lamar Advertising has a fifty-two week low of $99.84 and a fifty-two week high of $139.88. 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 has a 50-day moving average of $114.72 and a 200 day moving average of $123.63.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share 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 analysts' expectations of $583.19 million. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. As a group, research analysts forecast that Lamar Advertising will post 7.92 EPS for the current year.

Lamar Advertising Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a $1.55 dividend. This represents a $6.20 annualized dividend and a yield of 5.53%. This is an increase from Lamar Advertising's previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Friday, March 14th. Lamar Advertising's dividend payout ratio (DPR) is presently 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.

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