State of New Jersey Common Pension Fund D Has $3.45 Million Stock Holdings in Lamar Advertising (NASDAQ:LAMR)

State of New Jersey Common Pension Fund D trimmed its position in Lamar Advertising (NASDAQ:LAMR) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,298 shares of the real estate investment trust’s stock after selling 418 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Lamar Advertising were worth $3,445,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. 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 worth $25,000 after buying an additional 151 shares during the period. Brooklyn Investment Group bought a new position in Lamar Advertising in the third quarter valued at approximately $25,000. Concord Wealth Partners bought a new position in Lamar Advertising in the third quarter valued at approximately $26,000. Assetmark Inc. grew its holdings in Lamar Advertising by 109.3% during the 3rd quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 117 shares during the period. Finally, Versant Capital Management Inc raised its position in shares of Lamar Advertising by 46.6% during the 4th quarter. Versant Capital Management Inc now owns 450 shares of the real estate investment trust’s stock valued at $55,000 after acquiring an additional 143 shares during the last quarter. 93.78% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. TD Cowen lifted their price objective on Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. StockNews.com cut Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Morgan Stanley upped their price target on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Finally, Wells Fargo & Company reduced their price objective 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. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $132.40.

Lamar Advertising Trading Down 0.7 %

NASDAQ:LAMR opened at $132.00 on Thursday. 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 business’s 50-day simple moving average is $124.87 and its 200-day simple moving average is $127.35. Lamar Advertising has a fifty-two week low of $106.43 and a fifty-two week high of $139.88. The stock has a market capitalization of $13.51 billion, a PE ratio of 26.40 and a beta of 1.51.

Lamar Advertising Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $1.55 dividend. This represents a $6.20 annualized dividend and a dividend yield of 4.70%. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.40. Lamar Advertising’s dividend payout ratio is 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.