Texas Permanent School Fund Decreases Stock Holdings in Lamar Advertising (NASDAQ:LAMR)

Texas Permanent School Fund decreased its position in Lamar Advertising (NASDAQ:LAMRGet Rating) by 2.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,868 shares of the real estate investment trust’s stock after selling 1,313 shares during the quarter. Texas Permanent School Fund owned approximately 0.06% of Lamar Advertising worth $7,626,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC increased its position in shares of Lamar Advertising by 3.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 7,537 shares of the real estate investment trust’s stock valued at $914,000 after acquiring an additional 257 shares during the period. Raymond James & Associates increased its position in shares of Lamar Advertising by 12.6% in the fourth quarter. Raymond James & Associates now owns 117,551 shares of the real estate investment trust’s stock valued at $14,259,000 after acquiring an additional 13,161 shares during the period. Versor Investments LP purchased a new position in shares of Lamar Advertising in the fourth quarter valued at about $201,000. State Board of Administration of Florida Retirement System increased its position in shares of Lamar Advertising by 0.3% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 104,821 shares of the real estate investment trust’s stock valued at $12,715,000 after acquiring an additional 283 shares during the period. Finally, First Trust Advisors LP increased its position in shares of Lamar Advertising by 52.7% in the fourth quarter. First Trust Advisors LP now owns 67,824 shares of the real estate investment trust’s stock valued at $8,227,000 after acquiring an additional 23,418 shares during the period. Hedge funds and other institutional investors own 78.29% of the company’s stock.

NASDAQ:LAMR traded up $2.18 during mid-day trading on Thursday, hitting $114.14. 356,566 shares of the company’s stock were exchanged, compared to its average volume of 412,959. Lamar Advertising has a one year low of $97.53 and a one year high of $124.32. The company has a debt-to-equity ratio of 2.35, a current ratio of 0.59 and a quick ratio of 0.59. The business has a fifty day moving average price of $112.48 and a 200 day moving average price of $114.00. The company has a market cap of $11.56 billion, a PE ratio of 29.88 and a beta of 1.43.

Lamar Advertising (NASDAQ:LAMRGet Rating) last posted its quarterly earnings data on Friday, February 25th. The real estate investment trust reported $1.21 EPS for the quarter, topping the consensus estimate of $1.18 by $0.03. Lamar Advertising had a net margin of 21.71% and a return on equity of 31.86%. The business had revenue of $494.60 million for the quarter, compared to analyst estimates of $473.38 million. During the same quarter in the previous year, the firm posted $1.71 earnings per share. Lamar Advertising’s quarterly revenue was up 15.4% on a year-over-year basis. On average, equities analysts forecast that Lamar Advertising will post 6.78 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 31st. Investors of record on Monday, March 21st were paid a dividend of $1.10 per share. The ex-dividend date was Friday, March 18th. This represents a $4.40 annualized dividend and a yield of 3.85%. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.00. Lamar Advertising’s payout ratio is presently 115.18%.

Several brokerages recently issued reports on LAMR. Morgan Stanley reduced their price target on shares of Lamar Advertising from $138.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday, February 28th. Wolfe Research began coverage on shares of Lamar Advertising in a research report on Tuesday, March 29th. They set a “market perform” rating and a $131.00 price target on the stock. Finally, StockNews.com began coverage on shares of Lamar Advertising in a research report on Thursday, March 31st. They set a “buy” rating on the stock.

About Lamar Advertising (Get Rating)

Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with over 352,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day.

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Institutional Ownership by Quarter for Lamar Advertising (NASDAQ:LAMR)

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