Lamar Advertising Company $LAMR Shares Bought by Police & Firemen s Retirement System of New Jersey

Police & Firemen s Retirement System of New Jersey lifted its holdings in shares of Lamar Advertising Company (NASDAQ:LAMR) by 5.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,254 shares of the real estate investment trust’s stock after purchasing an additional 1,779 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Lamar Advertising were worth $4,036,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC increased its stake in Lamar Advertising by 27.8% in the second quarter. Geode Capital Management LLC now owns 2,344,637 shares of the real estate investment trust’s stock valued at $284,577,000 after purchasing an additional 510,025 shares during the last quarter. Hamlin Capital Management LLC grew its stake in shares of Lamar Advertising by 2.1% during the 2nd quarter. Hamlin Capital Management LLC now owns 1,338,419 shares of the real estate investment trust’s stock valued at $162,431,000 after buying an additional 26,893 shares during the period. Northern Trust Corp increased its holdings in shares of Lamar Advertising by 0.4% during the 1st quarter. Northern Trust Corp now owns 1,282,892 shares of the real estate investment trust’s stock worth $145,967,000 after buying an additional 4,495 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Lamar Advertising by 0.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,109,668 shares of the real estate investment trust’s stock worth $126,258,000 after buying an additional 7,426 shares during the period. Finally, HighTower Advisors LLC boosted its holdings in Lamar Advertising by 4.3% in the first quarter. HighTower Advisors LLC now owns 674,089 shares of the real estate investment trust’s stock valued at $76,698,000 after acquiring an additional 27,823 shares during the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Lamar Advertising Stock Performance

Lamar Advertising stock opened at $129.63 on Monday. Lamar Advertising Company has a 12-month low of $99.84 and a 12-month high of $135.91. The company has a debt-to-equity ratio of 3.45, a current ratio of 0.58 and a quick ratio of 0.58. The company has a market capitalization of $13.12 billion, a price-to-earnings ratio of 30.15 and a beta of 1.36. The firm’s fifty day moving average price is $122.51 and its 200 day moving average price is $121.90.

Lamar Advertising (NASDAQ:LAMR) last announced its earnings results on Thursday, November 6th. The real estate investment trust reported $2.20 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.06. Lamar Advertising had a return on equity of 41.85% and a net margin of 19.72%.The company had revenue of $585.54 million during the quarter, compared to the consensus estimate of $584.00 million. On average, research analysts forecast that Lamar Advertising Company will post 7.92 EPS for the current fiscal year.

Lamar Advertising Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 19th were issued a dividend of $1.55 per share. The ex-dividend date was Friday, September 19th. This represents a $6.20 annualized dividend and a yield of 4.8%. Lamar Advertising’s payout ratio is currently 145.54%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Lamar Advertising in a research note on Thursday. Wells Fargo & Company dropped their target price on shares of Lamar Advertising from $122.00 to $119.00 and set an “equal weight” rating for the company in a research report on Monday, August 11th. Citigroup raised their price target on shares of Lamar Advertising from $135.00 to $145.00 and gave the company a “buy” rating in a report on Thursday. JPMorgan Chase & Co. boosted their price objective on shares of Lamar Advertising from $122.00 to $128.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 12th. Finally, Morgan Stanley increased 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 report on Monday, August 4th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $131.75.

Insider Activity

In other Lamar Advertising news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $124.28, for a total value of $2,734,160.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 14.99% of the stock is currently owned by insiders.

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.