Retirement Systems of Alabama Has $14.26 Million Stock Position in Lamar Advertising (NASDAQ:LAMR)

Retirement Systems of Alabama decreased its position in Lamar Advertising (NASDAQ:LAMR) by 1.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 106,756 shares of the real estate investment trust’s stock after selling 1,637 shares during the period. Retirement Systems of Alabama’s holdings in Lamar Advertising were worth $14,263,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Raymond James & Associates raised its holdings in shares of Lamar Advertising by 3.8% in the 2nd quarter. Raymond James & Associates now owns 370,275 shares of the real estate investment trust’s stock worth $44,259,000 after buying an additional 13,444 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Lamar Advertising by 16.6% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 15,904 shares of the real estate investment trust’s stock worth $1,901,000 after buying an additional 2,270 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Lamar Advertising by 0.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 50,069 shares of the real estate investment trust’s stock worth $5,985,000 after buying an additional 306 shares in the last quarter. First Citizens Bank & Trust Co. acquired a new position in shares of Lamar Advertising in the 2nd quarter worth approximately $215,000. Finally, MFA Wealth Advisors LLC acquired a new position in shares of Lamar Advertising in the 2nd quarter worth approximately $30,000. Institutional investors and hedge funds own 93.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LAMR. Wells Fargo & Company dropped their target price on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. StockNews.com cut Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. TD Cowen raised their price target on Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, Morgan Stanley raised their price target on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $132.40.

Lamar Advertising Stock Performance

LAMR opened at $129.00 on Monday. The business’s 50-day moving average price is $132.21 and its two-hundred day moving average price is $125.05. Lamar Advertising has a 1 year low of $100.15 and a 1 year high of $139.88. The company has a market capitalization of $13.20 billion, a price-to-earnings ratio of 25.80 and a beta of 1.50. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56.

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

Lamar Advertising Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Wednesday, December 18th will be issued 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 of this dividend is Wednesday, December 18th. Lamar Advertising’s dividend payout ratio is presently 112.00%.

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.