Public Employees Retirement System of Ohio Has $4.12 Million Stock Position in Lamar Advertising Company $LAMR

Public Employees Retirement System of Ohio grew its position in Lamar Advertising Company (NASDAQ:LAMR) by 0.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,919 shares of the real estate investment trust’s stock after buying an additional 222 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Lamar Advertising were worth $4,116,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Hamlin Capital Management LLC boosted its holdings in shares of Lamar Advertising by 3.4% during the first quarter. Hamlin Capital Management LLC now owns 1,311,526 shares of the real estate investment trust’s stock worth $149,225,000 after purchasing an additional 43,081 shares during the period. Northern Trust Corp boosted its holdings in shares of Lamar Advertising by 0.4% during the first quarter. Northern Trust Corp now owns 1,282,892 shares of the real estate investment trust’s stock worth $145,967,000 after purchasing an additional 4,495 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Lamar Advertising by 0.7% during the first 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 purchasing an additional 7,426 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Lamar Advertising by 5.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 917,833 shares of the real estate investment trust’s stock worth $104,431,000 after purchasing an additional 50,004 shares during the period. Finally, HighTower Advisors LLC boosted its holdings in shares of Lamar Advertising by 4.3% during the first quarter. HighTower Advisors LLC now owns 674,089 shares of the real estate investment trust’s stock worth $76,698,000 after purchasing an additional 27,823 shares during the period. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Lamar Advertising

In related news, CFO Jay Lecoryelle Johnson sold 22,000 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $124.28, for a total transaction of $2,734,160.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 14.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on LAMR shares. Wells Fargo & Company decreased their price target on shares of Lamar Advertising from $122.00 to $119.00 and set an “equal weight” rating for the company in a report on Monday, August 11th. Morgan Stanley lifted their target price on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday, August 4th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Lamar Advertising from $125.00 to $122.00 and set a “neutral” rating for the company in a research note on Monday, August 11th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $134.20.

Lamar Advertising Trading Up 1.2%

NASDAQ:LAMR opened at $122.42 on Wednesday. Lamar Advertising Company has a 12 month low of $99.84 and a 12 month high of $139.88. The firm has a market cap of $12.39 billion, a price-to-earnings ratio of 28.47 and a beta of 1.38. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 3.45. The company’s 50 day moving average is $124.21 and its 200-day moving average is $119.43.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings results on Friday, August 8th. The real estate investment trust reported $2.22 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.74. Lamar Advertising had a net margin of 19.72% and a return on equity of 41.85%. The company had revenue of $579.31 million for the quarter, compared to analyst estimates of $580.72 million. Lamar Advertising has set its FY 2025 guidance at 6.090-6.11 EPS. Equities analysts anticipate that Lamar Advertising Company will post 7.92 EPS for the current year.

Lamar Advertising Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, September 19th were given a dividend of $1.55 per share. The ex-dividend date of this dividend was Friday, September 19th. This represents a $6.20 dividend on an annualized basis and a yield of 5.1%. Lamar Advertising’s payout ratio is 144.19%.

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.