California State Teachers Retirement System Raises Position in Lamar Advertising Company $LAMR

Key Points

• California State Teachers Retirement System increased its Lamar Advertising stake by 16,163.1% in the second quarter, bringing its holdings to 15.76 million shares valued at approximately $2.46 billion, or 15.52% of the company.
• Analysts maintain a consensus “Hold” rating on LAMR, with an average price target of $160.17 compared with the reported share price of $147.70.
• Lamar reported quarterly EPS of $1.58, matching estimates, while revenue of $616.75 million exceeded expectations. The company also raised its quarterly dividend from $1.60 to $1.65 per share, implying a 4.5% annualized yield.

California State Teachers Retirement System lifted its holdings in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 16,163.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,762,403 shares of the real estate investment trust's stock after purchasing an additional 15,665,482 shares during the quarter. California State Teachers Retirement System owned about 15.52% of Lamar Advertising worth $2,458,620,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sivia Capital Partners LLC acquired a new stake in Lamar Advertising in the 2nd quarter worth about $510,000. Arrowstreet Capital Limited Partnership grew its holdings in Lamar Advertising by 250.0% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 47,604 shares of the real estate investment trust's stock valued at $5,777,000 after buying an additional 34,002 shares during the period. Amundi increased its stake in shares of Lamar Advertising by 224.6% during the 2nd quarter. Amundi now owns 2,048 shares of the real estate investment trust's stock valued at $255,000 after acquiring an additional 1,417 shares during the last quarter. Gamco Investors INC. ET AL acquired a new position in shares of Lamar Advertising during the 2nd quarter valued at about $873,000. Finally, Cerity Partners LLC lifted its holdings in shares of Lamar Advertising by 39.0% during the 2nd quarter. Cerity Partners LLC now owns 37,166 shares of the real estate investment trust's stock worth $4,510,000 after acquiring an additional 10,423 shares during the period. Hedge funds and other institutional investors own 93.78% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on LAMR shares. Morgan Stanley set a $170.00 target price on shares of Lamar Advertising in a research report on Friday, August 7th. Wells Fargo & Company increased 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. Citigroup lowered shares of Lamar Advertising from a "buy" rating to a "neutral" rating and lifted their price target for the company from $145.00 to $160.00 in a report on Friday, July 10th. TD Cowen boosted their price objective on shares of Lamar Advertising from $150.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, May 14th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Lamar Advertising from $153.00 to $160.00 and gave the company a "neutral" rating in a research note on Friday, August 7th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Lamar Advertising has an average rating of "Hold" and a consensus price target of $160.17.

Lamar Advertising Price Performance

Shares of NASDAQ LAMR opened at $147.70 on Friday. The company has a debt-to-equity ratio of 3.29, a current ratio of 0.63 and a quick ratio of 0.63. Lamar Advertising Company has a 1-year low of $114.45 and a 1-year high of $166.33. The company has a market capitalization of $15.00 billion, a price-to-earnings ratio of 26.95 and a beta of 1.17. The business has a 50-day moving average of $155.91 and a 200-day moving average of $146.46.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its earnings results on Thursday, August 6th. The real estate investment trust reported $1.58 EPS for the quarter, meeting the consensus estimate of $1.58. The business had revenue of $616.75 million for the quarter, compared to the consensus estimate 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. On average, equities analysts anticipate that Lamar Advertising Company will post 8.43 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st will be paid a dividend of $1.65 per share. This is an increase from Lamar Advertising's previous quarterly dividend of $1.60. This represents a $6.60 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Monday, September 21st. Lamar Advertising's payout ratio is 116.79%.

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.

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