California Public Employees Retirement System Sells 5,688 Shares of Lamar Advertising Company $LAMR

California Public Employees Retirement System decreased its holdings in Lamar Advertising Company (NASDAQ:LAMR) by 3.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 153,288 shares of the real estate investment trust’s stock after selling 5,688 shares during the quarter. California Public Employees Retirement System owned 0.15% of Lamar Advertising worth $19,415,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MTM Investment Management LLC grew its stake in shares of Lamar Advertising by 121.5% in the first quarter. MTM Investment Management LLC now owns 5,760 shares of the real estate investment trust’s stock worth $730,000 after acquiring an additional 3,160 shares during the period. Simon Quick Advisors LLC purchased a new stake in Lamar Advertising in the first quarter worth approximately $253,000. Kera Capital Partners Inc. grew its position in Lamar Advertising by 4.4% in the 1st quarter. Kera Capital Partners Inc. now owns 7,269 shares of the real estate investment trust’s stock worth $921,000 after purchasing an additional 307 shares during the period. Assetmark Inc. grew its position in Lamar Advertising by 13.5% in the 1st quarter. Assetmark Inc. now owns 137,988 shares of the real estate investment trust’s stock worth $17,478,000 after purchasing an additional 16,365 shares during the period. Finally, Prosperity Consulting Group LLC raised its stake in Lamar Advertising by 12.1% during the 1st quarter. Prosperity Consulting Group LLC now owns 2,486 shares of the real estate investment trust’s stock valued at $315,000 after buying an additional 268 shares during the last quarter. Institutional investors own 93.78% of the company’s stock.

Lamar Advertising Stock Performance

Shares of NASDAQ LAMR opened at $157.73 on Friday. Lamar Advertising Company has a 12-month low of $113.66 and a 12-month high of $164.38. The firm has a market capitalization of $16.00 billion, a price-to-earnings ratio of 29.10 and a beta of 1.19. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 3.33. The firm has a 50 day moving average of $154.27 and a 200 day moving average of $140.51.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings results on Thursday, May 7th. The real estate investment trust reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.18. The business had revenue of $528.00 million for the quarter, compared to the consensus estimate of $522.86 million. Lamar Advertising had a net margin of 24.01% and a return on equity of 55.53%. On average, research analysts anticipate that Lamar Advertising Company will post 8.41 earnings per share for the current year.

Lamar Advertising Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were issued a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend was Tuesday, June 16th. Lamar Advertising’s dividend payout ratio (DPR) is currently 118.08%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LAMR. Wells Fargo & Company increased their price target on Lamar Advertising from $136.00 to $150.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Citigroup lowered Lamar Advertising from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $145.00 to $160.00 in a report on Friday, July 10th. TD Cowen upped their price objective on Lamar Advertising from $150.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Morgan Stanley set a $145.00 target price on Lamar Advertising in a report on Thursday, May 7th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $153.00 target price on shares of Lamar Advertising in a research report on Wednesday. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $154.67.

Lamar Advertising Profile

Lamar Advertising Company (NASDAQ: LAMR) is one of North America’s largest outdoor advertising firms, specializing in out-of-home media solutions. Since its founding in 1902, the company has grown through a combination of organic expansion and strategic acquisitions to offer a broad portfolio of advertising products. Its core business centers on billboard advertising, encompassing traditional static billboards and a rapidly expanding network of digital displays. These assets enable advertisers to reach consumers with high-impact messaging along highways, in urban centers, and at high-traffic intersections.

In addition to highway billboards, Lamar offers a variety of supplemental out-of-home formats, including transit advertising on buses and shelters, and logo signage at travel plazas and gas stations.