Lamar Advertising Company (NASDAQ:LAMR) Shares Purchased by Ontario Teachers Pension Plan Board

Key Points

• Ontario Teachers Pension Plan Board increased its holdings in Lamar Advertising by 62.6% during the first quarter, acquiring a total of 53,941 shares valued at approximately $6.14 million.
• Analysts have issued mixed ratings on Lamar Advertising, with Citigroup upgrading it to a "buy" rating and raising the price target to $135.00, while the stock currently has an average rating of "Hold".
• Lamar Advertising recently declared a quarterly dividend of $1.55 per share, resulting in an annualized yield of 5.0%, but has a high dividend payout ratio of 150.49%.

Ontario Teachers Pension Plan Board raised its holdings in Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 62.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,941 shares of the real estate investment trust's stock after buying an additional 20,765 shares during the quarter. Ontario Teachers Pension Plan Board owned approximately 0.05% of Lamar Advertising worth $6,137,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of LAMR. Charles Schwab Investment Management Inc. increased its holdings in shares of Lamar Advertising by 0.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,109,668 shares of the real estate investment trust's stock worth $126,258,000 after buying an additional 7,426 shares during the last quarter. Provident Investment Management Inc. grew its position in Lamar Advertising by 13.1% during the first quarter. Provident Investment Management Inc. now owns 6,452 shares of the real estate investment trust's stock valued at $734,000 after acquiring an additional 745 shares during the period. Centersquare Investment Management LLC increased its stake in Lamar Advertising by 8.8% during the first quarter. Centersquare Investment Management LLC now owns 655,886 shares of the real estate investment trust's stock worth $74,627,000 after acquiring an additional 52,876 shares during the last quarter. Twin City Private Wealth LLC raised its holdings in shares of Lamar Advertising by 13.8% in the 1st quarter. Twin City Private Wealth LLC now owns 20,060 shares of the real estate investment trust's stock worth $2,282,000 after purchasing an additional 2,430 shares during the period. Finally, Reaves W H & Co. Inc. acquired a new position in shares of Lamar Advertising in the 1st quarter valued at about $2,844,000. Institutional investors and hedge funds own 93.78% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on LAMR. Citigroup upgraded shares of Lamar Advertising from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $114.00 to $135.00 in a research note on Thursday, May 29th. Morgan Stanley increased their price target on Lamar Advertising from $125.00 to $135.00 and gave the company an "equal weight" rating in a report on Monday. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $136.00.

Lamar Advertising Trading Down 0.8%

Shares of LAMR opened at $124.56 on Thursday. Lamar Advertising Company has a one year low of $99.84 and a one year high of $139.88. The stock has a 50-day moving average price of $122.59 and a 200 day moving average price of $119.60. The company has a debt-to-equity ratio of 2.89, a quick ratio of 0.57 and a current ratio of 0.57. The company has a market capitalization of $12.75 billion, a P/E ratio of 30.23 and a beta of 1.36.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last released its earnings results on Thursday, May 8th. The real estate investment trust reported $1.60 EPS for the quarter, beating the consensus estimate of $1.54 by $0.06. Lamar Advertising had a return on equity of 37.62% and a net margin of 19.08%. The company had revenue of $505.43 million during the quarter, compared to analysts' expectations of $509.72 million. Sell-side analysts forecast that Lamar Advertising Company will post 7.92 EPS for the current fiscal year.

Lamar Advertising Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were paid a dividend of $1.55 per share. This represents a $6.20 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date was Monday, June 16th. Lamar Advertising's dividend payout ratio is 150.49%.

Lamar Advertising Company 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.

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