Arizona State Retirement System Has $3.10 Million Stake in Lamar Advertising (NASDAQ:LAMR)

Arizona State Retirement System grew its position in Lamar Advertising (NASDAQ:LAMR) by 0.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,460 shares of the real estate investment trust’s stock after buying an additional 181 shares during the quarter. Arizona State Retirement System’s holdings in Lamar Advertising were worth $3,100,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in LAMR. Farther Finance Advisors LLC raised its position in Lamar Advertising by 23.3% during the third quarter. Farther Finance Advisors LLC now owns 975 shares of the real estate investment trust’s stock valued at $130,000 after purchasing an additional 184 shares in the last quarter. Assetmark Inc. increased its stake in shares of Lamar Advertising by 109.3% in the 3rd quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 117 shares during the last quarter. Crossmark Global Holdings Inc. raised its holdings in shares of Lamar Advertising by 20.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 7,069 shares of the real estate investment trust’s stock worth $945,000 after buying an additional 1,213 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Lamar Advertising during the 3rd quarter worth $43,665,000. Finally, Venturi Wealth Management LLC boosted its stake in Lamar Advertising by 154.9% in the third quarter. Venturi Wealth Management LLC now owns 994 shares of the real estate investment trust’s stock valued at $133,000 after buying an additional 604 shares in the last quarter. Institutional investors own 93.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on LAMR shares. Morgan Stanley boosted their target price on Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Citigroup lifted their price target on shares of Lamar Advertising from $121.76 to $128.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. StockNews.com downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Wells Fargo & Company decreased their target price on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. Finally, TD Cowen upped their price target on shares of Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Five 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.com, the company presently has a consensus rating of “Hold” and an average target price of $134.60.

Lamar Advertising Stock Up 1.6 %

Shares of NASDAQ LAMR opened at $125.28 on Monday. The company has a 50 day simple moving average of $124.53 and a 200 day simple moving average of $127.99. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56. Lamar Advertising has a 1 year low of $108.80 and a 1 year high of $139.88. The firm has a market cap of $12.83 billion, a PE ratio of 35.49 and a beta of 1.53.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.74. The firm had revenue of $579.57 million during the quarter, compared to the consensus estimate of $583.19 million. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. On average, research analysts forecast that Lamar Advertising will post 7.92 EPS for the current year.

Lamar Advertising Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a dividend of $1.55 per share. The ex-dividend date is Friday, March 14th. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.40. This represents a $6.20 annualized dividend and a yield of 4.95%. 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.