Texas Permanent School Fund Corp lowered its holdings in Lamar Advertising (NASDAQ:LAMR – Free Report) by 4.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 74,314 shares of the real estate investment trust’s stock after selling 3,151 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Lamar Advertising were worth $6,203,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Farther Finance Advisors LLC grew its position in Lamar Advertising by 243.9% during the second quarter. Farther Finance Advisors LLC now owns 282 shares of the real estate investment trust’s stock valued at $28,000 after buying an additional 200 shares during the period. Geneos Wealth Management Inc. grew its position in Lamar Advertising by 93.0% during the third quarter. Geneos Wealth Management Inc. now owns 359 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 173 shares during the period. Signaturefd LLC grew its position in Lamar Advertising by 43.7% during the third quarter. Signaturefd LLC now owns 493 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 150 shares during the period. Harbour Investments Inc. grew its position in Lamar Advertising by 79.5% during the fourth quarter. Harbour Investments Inc. now owns 429 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 190 shares during the period. Finally, CWM LLC grew its position in Lamar Advertising by 28.2% during the second quarter. CWM LLC now owns 550 shares of the real estate investment trust’s stock valued at $55,000 after buying an additional 121 shares during the period. Institutional investors and hedge funds own 79.80% of the company’s stock.
Wall Street Analyst Weigh In
Separately, StockNews.com upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Thursday, January 11th.
Lamar Advertising Stock Up 0.2 %
Shares of NASDAQ LAMR opened at $105.92 on Monday. The company’s 50-day simple moving average is $105.54 and its 200-day simple moving average is $94.73. Lamar Advertising has a 52-week low of $77.21 and a 52-week high of $112.34. The firm has a market cap of $10.80 billion, a price-to-earnings ratio of 26.22 and a beta of 1.50. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 2.67.
Lamar Advertising Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Monday, December 18th were given a $1.25 dividend. The ex-dividend date of this dividend was Friday, December 15th. This represents a $5.00 annualized dividend and a dividend yield of 4.72%. Lamar Advertising’s dividend payout ratio (DPR) is 123.76%.
Lamar Advertising Profile
Lamar Advertising Company operates as an outdoor advertising company in North America. It operates approximately 363,000 displays across the United States and Canada. It offers advertisers a range of billboard, interstate logo, transit, and airport advertising formats helping local businesses and national brands.
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