Public Employees Retirement System of Ohio Buys 68,806 Shares of Lamar Advertising Company $LAMR

Key Points

• Public Employees Retirement System of Ohio increased its stake in Lamar Advertising by 109.3% in the first quarter, buying 68,806 additional shares and bringing its total holding to 131,749 shares worth about $16.7 million.
• Institutional ownership of LAMR remains very high, with several other large investors also adding shares; the article says 93.78% of the stock is owned by institutions and hedge funds.
• Lamar Advertising reported stronger-than-expected results, with quarterly EPS of $1.00 versus the $0.82 consensus and revenue of $528 million, while analysts currently rate the stock a Hold on average with a $154.67 price target.

Public Employees Retirement System of Ohio grew its stake in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 109.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 131,749 shares of the real estate investment trust's stock after purchasing an additional 68,806 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.13% of Lamar Advertising worth $16,687,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of LAMR. Boston Partners raised its holdings in Lamar Advertising by 2.0% during the third quarter. Boston Partners now owns 2,384,715 shares of the real estate investment trust's stock worth $291,928,000 after buying an additional 46,361 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Lamar Advertising by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 2,382,137 shares of the real estate investment trust's stock worth $301,573,000 after buying an additional 32,542 shares in the last quarter. Wellington Management Group LLP boosted its position in Lamar Advertising by 3.3% in the fourth quarter. Wellington Management Group LLP now owns 2,027,080 shares of the real estate investment trust's stock worth $256,588,000 after purchasing an additional 64,824 shares during the last quarter. Northern Trust Corp raised its stake in shares of Lamar Advertising by 23.9% during the 3rd quarter. Northern Trust Corp now owns 1,629,554 shares of the real estate investment trust's stock worth $199,490,000 after purchasing an additional 314,235 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in shares of Lamar Advertising by 7.6% in the 3rd quarter. AQR Capital Management LLC now owns 1,587,887 shares of the real estate investment trust's stock worth $193,166,000 after buying an additional 112,362 shares during the last quarter. 93.78% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LAMR. Wells Fargo & Company increased their target price on shares of Lamar Advertising from $136.00 to $150.00 and gave the company an "equal weight" rating in a research report on Friday, May 8th. TD Cowen boosted their price objective on Lamar Advertising from $150.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday, May 14th. Morgan Stanley set a $145.00 price objective on Lamar Advertising in a report on Thursday, May 7th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $153.00 price objective on shares of Lamar Advertising in a research report on Wednesday. Finally, Citigroup lowered Lamar Advertising from a "buy" rating to a "neutral" rating and lifted their price objective for the company from $145.00 to $160.00 in a research note on Friday, July 10th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, Lamar Advertising has an average rating of "Hold" and an average target price of $154.67.

Lamar Advertising Trading Up 1.1%

Shares of LAMR stock opened at $159.46 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 3.33. The business has a 50-day moving average price of $154.55 and a two-hundred day moving average price of $140.64. Lamar Advertising Company has a 12-month low of $113.66 and a 12-month high of $164.38. The firm has a market cap of $16.18 billion, a P/E ratio of 29.42 and a beta of 1.19.

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

Lamar Advertising Dividend Announcement

The company 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. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $6.40 annualized dividend and a yield of 4.0%. Lamar Advertising's dividend payout ratio is currently 118.08%.

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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