Lamar Advertising (NASDAQ:LAMR) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lessened its position in Lamar Advertising (NASDAQ:LAMR – Get Rating) by 2.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 194,222 shares of the real estate investment trust’s stock after selling 4,507 shares during the period. California Public Employees Retirement System owned approximately 0.19% of Lamar Advertising worth $23,559,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. increased its holdings in shares of Lamar Advertising by 103.5% in the 3rd quarter. Geneos Wealth Management Inc. now owns 289 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 147 shares during the period. National Bank of Canada FI acquired a new stake in shares of Lamar Advertising in the 4th quarter worth about $33,000. Dark Forest Capital Management LP acquired a new stake in shares of Lamar Advertising in the 3rd quarter worth about $35,000. UMB Bank N A MO acquired a new stake in shares of Lamar Advertising in the 4th quarter worth about $38,000. Finally, Sageworth Trust Co of South Dakota acquired a new stake in shares of Lamar Advertising in the 4th quarter worth about $42,000. 78.03% of the stock is currently owned by institutional investors and hedge funds.

Lamar Advertising stock opened at $99.19 on Friday. The stock has a market cap of $10.04 billion, a price-to-earnings ratio of 22.80 and a beta of 1.37. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 2.43. The company’s 50-day moving average price is $111.16 and its two-hundred day moving average price is $112.87. Lamar Advertising has a 52 week low of $93.63 and a 52 week high of $124.32.

Lamar Advertising (NASDAQ:LAMR – Get Rating) last posted its quarterly earnings data on Thursday, May 5th. The real estate investment trust reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.18. Lamar Advertising had a net margin of 23.66% and a return on equity of 35.97%. The company had revenue of $451.40 million during the quarter, compared to analyst estimates of $427.21 million. During the same quarter last year, the firm posted $1.15 EPS. The business’s revenue for the quarter was up 21.7% on a year-over-year basis. Research analysts expect that Lamar Advertising will post 6.95 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 31st. Stockholders of record on Monday, March 21st were given a dividend of $1.10 per share. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.00. The ex-dividend date was Friday, March 18th. This represents a $4.40 annualized dividend and a dividend yield of 4.44%. Lamar Advertising’s dividend payout ratio (DPR) is 101.15%.

Several research firms have commented on LAMR. Morgan Stanley lowered their target price on shares of Lamar Advertising from $138.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, February 28th. StockNews.com raised shares of Lamar Advertising from a “buy” rating to a “strong-buy” rating in a research note on Monday, May 9th. Finally, Wolfe Research began coverage on shares of Lamar Advertising in a research note on Tuesday, March 29th. They set a “market perform” rating and a $131.00 target price on the stock.

About Lamar Advertising (Get Rating)

Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with over 352,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day.

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