California Public Employees Retirement System Lowers Stock Position in Lamar Advertising Company $LAMR

California Public Employees Retirement System trimmed its position in Lamar Advertising Company (NASDAQ:LAMR) by 3.6% in the 1st quarter, HoldingsChannel reports. 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’s holdings in Lamar Advertising were worth $19,415,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tucker Asset Management LLC bought a new position in shares of Lamar Advertising in the fourth quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Lamar Advertising in the third quarter worth $33,000. Sound Income Strategies LLC raised its position in shares of Lamar Advertising by 151.0% during the 4th quarter. Sound Income Strategies LLC now owns 251 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 151 shares during the period. Beacon Financial Strategies CORP bought a new stake in shares of Lamar Advertising during the 4th quarter valued at $35,000. Finally, Measured Wealth Private Client Group LLC bought a new stake in shares of Lamar Advertising during the 3rd quarter valued at $39,000. Institutional investors own 93.78% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on LAMR shares. TD Cowen upped their target price on shares of Lamar Advertising from $150.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Morgan Stanley set a $145.00 price target on Lamar Advertising in a research note on Thursday, May 7th. Wells Fargo & Company raised 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. Weiss Ratings restated a “buy (b)” rating on shares of Lamar Advertising in a research report on Friday, May 22nd. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $153.00 price objective on shares of Lamar Advertising in a research note on Wednesday. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $154.67.

Lamar Advertising Trading Down 0.7%

Lamar Advertising stock opened at $157.73 on Friday. The stock has a market cap of $16.00 billion, a P/E ratio of 29.10 and a beta of 1.19. The company has a debt-to-equity ratio of 3.33, a current ratio of 0.58 and a quick ratio of 0.58. Lamar Advertising Company has a 1 year low of $113.66 and a 1 year high of $164.38. The firm’s 50 day moving average price is $154.27 and its 200-day moving average price is $140.51.

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

Lamar Advertising Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were paid a $1.60 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $6.40 annualized dividend and a yield of 4.1%. Lamar Advertising’s payout ratio is presently 118.08%.

Lamar Advertising Company 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.