New York State Teachers Retirement System Has $11.92 Million Stock Position in Lamar Advertising Company (NASDAQ:LAMR)

New York State Teachers Retirement System reduced its holdings in Lamar Advertising Company (NASDAQ:LAMR) by 4.9% in the 1st quarter, Holdings Channel reports. The fund owned 104,738 shares of the real estate investment trust’s stock after selling 5,437 shares during the period. New York State Teachers Retirement System’s holdings in Lamar Advertising were worth $11,917,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Rialto Wealth Management LLC acquired a new stake in shares of Lamar Advertising during the fourth quarter worth approximately $25,000. Golden State Wealth Management LLC acquired a new position in Lamar Advertising in the 1st quarter valued at approximately $28,000. ST Germain D J Co. Inc. lifted its position in Lamar Advertising by 346.0% in the 1st quarter. ST Germain D J Co. Inc. now owns 281 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 218 shares in the last quarter. Bessemer Group Inc. boosted its stake in shares of Lamar Advertising by 106.7% during the 4th quarter. Bessemer Group Inc. now owns 277 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 143 shares during the period. Finally, McIlrath & Eck LLC boosted its stake in shares of Lamar Advertising by 175.1% during the 4th quarter. McIlrath & Eck LLC now owns 707 shares of the real estate investment trust’s stock valued at $86,000 after buying an additional 450 shares during the period. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LAMR. Morgan Stanley reduced their price target on Lamar Advertising from $135.00 to $125.00 and set an “equal weight” rating for the company in a report on Thursday, May 1st. Citigroup raised shares of Lamar Advertising from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $114.00 to $135.00 in a research report on Thursday, May 29th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $134.00.

Lamar Advertising Stock Down 0.2%

Shares of NASDAQ:LAMR opened at $124.14 on Friday. The company has a market capitalization of $12.71 billion, a PE ratio of 30.13 and a beta of 1.33. The company has a debt-to-equity ratio of 2.89, a quick ratio of 0.57 and a current ratio of 0.57. The company’s fifty day moving average is $118.68 and its 200-day moving average is $119.18. Lamar Advertising Company has a 52 week low of $99.84 and a 52 week high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings data on Thursday, May 8th. The real estate investment trust reported $1.60 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.06. The company had revenue of $505.43 million for the quarter, compared to analyst estimates of $509.72 million. Lamar Advertising had a return on equity of 37.62% and a net margin of 19.08%. Equities research analysts predict that Lamar Advertising Company will post 7.92 earnings per share for the current fiscal year.

Lamar Advertising Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were issued a dividend of $1.55 per share. The ex-dividend date of this dividend was Monday, June 16th. This represents a $6.20 annualized dividend and a yield of 4.99%. Lamar Advertising’s dividend payout ratio is currently 150.49%.

Lamar Advertising 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.