Teachers Retirement System of The State of Kentucky Sells 770 Shares of Lamar Advertising (NASDAQ:LAMR)

Teachers Retirement System of The State of Kentucky reduced its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 2.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm 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.

A number of other institutional investors and hedge funds have also recently modified their holdings of LAMR. Blue Trust Inc. grew its position 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 acquiring an additional 151 shares during the period. Brooklyn Investment Group purchased a new stake in shares of Lamar Advertising during the 3rd quarter valued at approximately $25,000. Whittier Trust Co. lifted its stake 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 buying an additional 130 shares in the last quarter. Concord Wealth Partners purchased a new stake in shares of Lamar Advertising during the 3rd quarter valued at approximately $26,000. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of Lamar Advertising during the 2nd quarter valued at approximately $30,000. 93.78% of the stock is owned by institutional investors.

Lamar Advertising Stock Performance

NASDAQ LAMR opened at $129.00 on Friday. Lamar Advertising has a 1 year low of $100.15 and a 1 year high of $139.88. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56. The stock has a market capitalization of $13.20 billion, a PE ratio of 25.80 and a beta of 1.50. The company’s 50 day simple moving average is $132.29 and its two-hundred day simple moving average is $124.94.

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

Lamar Advertising Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Morgan Stanley upped their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. TD Cowen upped their price target on shares of Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Wells Fargo & Company dropped 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 research note on Monday, November 11th. Finally, StockNews.com cut shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $132.40.

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.