Teacher Retirement System of Texas Acquires 24,866 Shares of Lamar Advertising (NASDAQ:LAMR)

Teacher Retirement System of Texas boosted its position in shares of Lamar Advertising (NASDAQ:LAMR) by 75.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 57,949 shares of the real estate investment trust’s stock after purchasing an additional 24,866 shares during the period. Teacher Retirement System of Texas’ holdings in Lamar Advertising were worth $7,055,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new stake in Lamar Advertising during the third quarter worth about $25,000. Rialto Wealth Management LLC acquired a new stake in Lamar Advertising during the fourth quarter worth about $25,000. Blue Trust Inc. grew its stake in Lamar Advertising by 58.4% during the fourth quarter. Blue Trust Inc. now owns 293 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 108 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of Lamar Advertising by 46.6% in the 4th quarter. Versant Capital Management Inc now owns 450 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 143 shares in the last quarter. Finally, Avior Wealth Management LLC boosted 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 valued at $71,000 after purchasing an additional 84 shares in the last quarter. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Lamar Advertising Stock Down 0.9 %

NASDAQ:LAMR opened at $111.19 on Monday. The firm’s 50 day simple moving average is $123.20 and its 200 day simple moving average is $127.33. 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 one year low of $108.80 and a one year high of $139.88. The company has a market cap of $11.39 billion, a PE ratio of 31.50 and a beta of 1.53.

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

Lamar Advertising Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given 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 5.58%. Lamar Advertising’s dividend payout ratio (DPR) is currently 175.64%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LAMR. Citigroup raised their price target on shares of Lamar Advertising from $121.76 to $128.00 and gave the company a “neutral” rating in a research note on Tuesday, February 25th. JPMorgan Chase & Co. reduced their price target on shares of Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating on the stock in a research note on Friday, February 21st. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $134.60.

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.