California State Teachers Retirement System Purchases 14,394 Shares of Lamar Advertising Company $LAMR

California State Teachers Retirement System raised its position in Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 17.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 96,921 shares of the real estate investment trust's stock after acquiring an additional 14,394 shares during the period. California State Teachers Retirement System owned approximately 0.10% of Lamar Advertising worth $12,276,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Tucker Asset Management LLC bought a new stake in Lamar Advertising during the 4th quarter valued at $25,000. Sound Income Strategies LLC lifted its stake in shares of Lamar Advertising by 151.0% in the fourth quarter. Sound Income Strategies LLC now owns 251 shares of the real estate investment trust's stock valued at $33,000 after buying an additional 151 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Lamar Advertising in the third quarter valued at $33,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Lamar Advertising during the third quarter valued at about $39,000. Finally, Larson Financial Group LLC increased its position in shares of Lamar Advertising by 48.1% during the fourth quarter. Larson Financial Group LLC now owns 317 shares of the real estate investment trust's stock worth $40,000 after acquiring an additional 103 shares in the last quarter. 93.78% of the stock is owned by institutional investors and hedge funds.

Lamar Advertising Stock Performance

Shares of LAMR opened at $157.61 on Tuesday. The stock has a 50 day moving average of $155.71 and a 200 day moving average of $142.13. The company has a market capitalization of $15.99 billion, a price-to-earnings ratio of 29.08 and a beta of 1.19. Lamar Advertising Company has a 12 month low of $113.66 and a 12 month high of $166.33. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 3.33.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported $1.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.82 by $0.18. The firm had revenue of $528.00 million during the quarter, compared to the consensus estimate of $522.86 million. Lamar Advertising had a return on equity of 55.53% and a net margin of 24.01%. As a group, sell-side analysts forecast that Lamar Advertising Company will post 8.41 earnings per share for the current year.

Lamar Advertising Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Tuesday, June 16th. Lamar Advertising's payout ratio is presently 118.08%.

Wall Street Analysts Forecast Growth

LAMR has been the topic of a number of analyst reports. Citigroup lowered shares of Lamar Advertising from a "buy" rating to a "neutral" rating and upped their target price for the stock from $145.00 to $160.00 in a report on Friday, July 10th. Morgan Stanley set a $145.00 price objective on Lamar Advertising in a report on Thursday, May 7th. Weiss Ratings restated a "buy (b)" rating on shares of Lamar Advertising in a report on Friday, May 22nd. TD Cowen upped their price target on Lamar Advertising from $150.00 to $170.00 and gave the stock a "buy" rating in a report on Thursday, May 14th. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and issued a $153.00 price target on shares of Lamar Advertising in a research report on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Lamar Advertising has an average rating of "Hold" and a consensus price target of $154.67.

About Lamar Advertising

Lamar Advertising Company NASDAQ: LAMR is one of North America's largest outdoor advertising firms, specializing in out-of-home media solutions. Since its founding in 1902, the company has grown through a combination of organic expansion and strategic acquisitions to offer a broad portfolio of advertising products. Its core business centers on billboard advertising, encompassing traditional static billboards and a rapidly expanding network of digital displays. These assets enable advertisers to reach consumers with high-impact messaging along highways, in urban centers, and at high-traffic intersections.

In addition to highway billboards, Lamar offers a variety of supplemental out-of-home formats, including transit advertising on buses and shelters, and logo signage at travel plazas and gas stations.

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