Teachers Retirement System of The State of Kentucky Lowers Stake in Lamar Advertising (NASDAQ:LAMR)

Teachers Retirement System of The State of Kentucky lowered its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 2.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 27,667 shares of the real estate investment trust’s stock after selling 770 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Lamar Advertising were worth $3,696,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. grew its holdings in shares of Lamar Advertising by 444.1% during the 3rd quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 151 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of Lamar Advertising during the 3rd quarter valued at $25,000. Whittier Trust Co. grew its holdings in shares of Lamar Advertising by 144.4% during the 2nd quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 130 shares during the last quarter. Concord Wealth Partners bought a new position in shares of Lamar Advertising during the 3rd quarter valued at $26,000. Finally, MFA Wealth Advisors LLC bought a new position in shares of Lamar Advertising during the 2nd quarter valued at $30,000. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on LAMR shares. Morgan Stanley increased their target price on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. StockNews.com lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Wells Fargo & Company cut their price target on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Finally, TD Cowen raised their price target on shares of Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $132.40.

Lamar Advertising Price Performance

Shares of Lamar Advertising stock opened at $129.00 on Friday. The firm has a market cap of $13.20 billion, a PE ratio of 25.80 and a beta of 1.50. Lamar Advertising has a 12-month low of $100.15 and a 12-month high of $139.88. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48. The company’s fifty day simple moving average is $132.29 and its two-hundred day simple moving average is $124.94.

Lamar Advertising (NASDAQ:LAMR) last announced its earnings results on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). The company had revenue of $564.10 million for the quarter, compared to the consensus estimate of $568.91 million. Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm posted $2.04 EPS. As a group, equities analysts expect that Lamar Advertising will post 7.52 EPS for the current year.

Lamar Advertising Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Wednesday, December 18th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date is Wednesday, December 18th. Lamar Advertising’s payout ratio is 112.00%.

About Lamar Advertising

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.