State of New Jersey Common Pension Fund D Has $3.43 Million Holdings in Lamar Advertising (NASDAQ:LAMR)

State of New Jersey Common Pension Fund D decreased its position in Lamar Advertising (NASDAQ:LAMR) by 32.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,716 shares of the real estate investment trust’s stock after selling 13,747 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Lamar Advertising were worth $3,432,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SPC Financial Inc. increased its stake in Lamar Advertising by 3.6% in the 1st quarter. SPC Financial Inc. now owns 3,003 shares of the real estate investment trust’s stock valued at $359,000 after buying an additional 103 shares during the last quarter. Woodward Diversified Capital LLC increased its stake in Lamar Advertising by 2.6% in the 1st quarter. Woodward Diversified Capital LLC now owns 4,505 shares of the real estate investment trust’s stock valued at $538,000 after buying an additional 113 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its stake in Lamar Advertising by 1.8% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 6,603 shares of the real estate investment trust’s stock valued at $789,000 after buying an additional 114 shares during the last quarter. Simplicity Wealth LLC increased its stake in Lamar Advertising by 0.4% in the 2nd quarter. Simplicity Wealth LLC now owns 27,614 shares of the real estate investment trust’s stock valued at $3,301,000 after buying an additional 121 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC grew its position in shares of Lamar Advertising by 1.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 7,964 shares of the real estate investment trust’s stock valued at $846,000 after acquiring an additional 123 shares during the period. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Lamar Advertising Stock Down 1.0 %

LAMR opened at $129.86 on Wednesday. The company has a 50 day moving average of $120.62 and a 200 day moving average of $118.13. The company has a market cap of $13.28 billion, a PE ratio of 26.67 and a beta of 1.52. Lamar Advertising has a 12 month low of $77.21 and a 12 month high of $132.21. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 2.31.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings data on Thursday, August 8th. The real estate investment trust reported $1.34 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.67). The business had revenue of $565.25 million during the quarter, compared to the consensus estimate of $564.96 million. Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the business posted $1.90 earnings per share. On average, sell-side analysts expect that Lamar Advertising will post 7.75 EPS for the current year.

Lamar Advertising Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Wednesday, September 18th. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30. This represents a $5.60 annualized dividend and a yield of 4.31%. Lamar Advertising’s dividend payout ratio is currently 114.99%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on LAMR shares. JPMorgan Chase & Co. increased their target price on shares of Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. StockNews.com raised shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research report on Friday, May 31st. Citigroup downgraded shares of Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 target price for the company. in a research report on Thursday, July 11th. Finally, TD Cowen increased their target price on shares of Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $123.25.

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.