Lamar Advertising Company $LAMR Shares Acquired by California State Teachers Retirement System

California State Teachers Retirement System increased its position in Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 4.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 101,054 shares of the real estate investment trust's stock after buying an additional 4,133 shares during the quarter. California State Teachers Retirement System owned about 0.10% of Lamar Advertising worth $15,762,403 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Knights of Columbus Asset Advisors LLC acquired a new stake in shares of Lamar Advertising in the 4th quarter valued at $1,872,000. Legal & General Group Plc raised its position in shares of Lamar Advertising by 4.6% in the fourth quarter. Legal & General Group Plc now owns 232,235 shares of the real estate investment trust's stock valued at $29,396,000 after buying an additional 10,265 shares in the last quarter. Markel Group Inc. increased its holdings in Lamar Advertising by 8.8% in the 4th quarter. Markel Group Inc. now owns 185,000 shares of the real estate investment trust's stock worth $23,417,000 after purchasing an additional 15,000 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Lamar Advertising by 11.2% during the 1st quarter. Empowered Funds LLC now owns 67,392 shares of the real estate investment trust's stock worth $8,536,000 after purchasing an additional 6,793 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Lamar Advertising by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,307,093 shares of the real estate investment trust's stock valued at $165,549,000 after purchasing an additional 11,586 shares during the period. Institutional investors own 93.78% of the company's stock.

Lamar Advertising Stock Down 1.4%

Shares of NASDAQ LAMR traded down $2.04 during trading on Tuesday, hitting $147.75. 123,145 shares of the company traded hands, compared to its average volume of 585,898. Lamar Advertising Company has a fifty-two week low of $114.45 and a fifty-two week high of $166.33. The firm has a market capitalization of $15.00 billion, a price-to-earnings ratio of 26.97 and a beta of 1.17. The business's fifty day moving average is $155.57 and its 200 day moving average is $146.69. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.63 and a current ratio of 0.63.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The real estate investment trust reported $1.58 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.58. The business had revenue of $616.75 million for the quarter, compared to analyst estimates of $606.61 million. Lamar Advertising had a return on equity of 54.94% and a net margin of 23.90%.Lamar Advertising has set its FY 2026 guidance at 5.950-5.990 EPS. Equities research analysts predict that Lamar Advertising Company will post 8.43 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, September 21st will be given a dividend of $1.65 per share. This represents a $6.60 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Monday, September 21st. This is a positive change from Lamar Advertising's previous quarterly dividend of $1.60. Lamar Advertising's dividend payout ratio is 120.44%.

Analyst Upgrades and Downgrades

Several brokerages have commented on LAMR. JPMorgan Chase & Co. raised their price objective on Lamar Advertising from $153.00 to $160.00 and gave the company a "neutral" rating in a research report on Friday, August 7th. Citigroup downgraded shares of Lamar Advertising from a "buy" rating to a "neutral" rating and upped their price objective for the stock from $145.00 to $160.00 in a research report on Friday, July 10th. Weiss Ratings reissued a "buy (b)" rating on shares of Lamar Advertising in a research report on Wednesday, August 19th. Wells Fargo & Company upped their price target on shares of Lamar Advertising from $150.00 to $151.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 12th. Finally, Morgan Stanley set a $170.00 target price on Lamar Advertising in a research note on Friday, August 7th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $160.17.

Lamar Advertising Company Profile

Lamar Advertising Company is an outdoor advertising company that provides businesses and organizations with advertising displays across the United States. Its offerings include traditional and digital billboards, as well as advertising displays on buses, benches, shelters and other transit-related assets.

The company also provides advertising opportunities at airports and other specialty locations. Its digital display network enables advertisers to deliver changing messages and campaigns, while its traditional billboard inventory supports longer-term brand awareness and local advertising initiatives.

Founded in 1902, Lamar Advertising has grown from a regional sign and billboard business into one of North America's major out-of-home advertising providers.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.