State of New Jersey Common Pension Fund D Decreases Holdings in Lamar Advertising Company $LAMR

Key Points

• The State of New Jersey Common Pension Fund D decreased its holdings in Lamar Advertising Company (NASDAQ:LAMR) by 15.0%, selling 4,248 shares to own 24,050 shares valued at approximately $2.736 million.
• Despite the decrease in holdings by some investors, others like Caitong International Asset Management increased their position by 11,133.3%, acquiring additional shares during the same period.
• Analysts have mixed predictions for Lamar Advertising, with a consensus rating of "Hold" and an average price target of $134.20, while two analysts rated it as a "Buy."

State of New Jersey Common Pension Fund D decreased its position in Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 15.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 24,050 shares of the real estate investment trust's stock after selling 4,248 shares during the period. State of New Jersey Common Pension Fund D's holdings in Lamar Advertising were worth $2,736,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Ethic Inc. lifted its position in Lamar Advertising by 3.4% during the first quarter. Ethic Inc. now owns 9,200 shares of the real estate investment trust's stock valued at $1,043,000 after buying an additional 299 shares during the period. Hamlin Capital Management LLC increased its holdings in Lamar Advertising by 3.4% in the 1st quarter. Hamlin Capital Management LLC now owns 1,311,526 shares of the real estate investment trust's stock worth $149,225,000 after buying an additional 43,081 shares in the last quarter. Leith Wheeler Investment Counsel Ltd. grew its stake in shares of Lamar Advertising by 1.3% during the 1st quarter. Leith Wheeler Investment Counsel Ltd. now owns 79,369 shares of the real estate investment trust's stock valued at $9,031,000 after purchasing an additional 995 shares during the period. Caitong International Asset Management Co. Ltd grew its stake in shares of Lamar Advertising by 11,133.3% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,011 shares of the real estate investment trust's stock valued at $115,000 after acquiring an additional 1,002 shares during the period. Finally, Klingman & Associates LLC bought a new position in shares of Lamar Advertising during the 1st quarter valued at approximately $1,768,000. Institutional investors own 93.78% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on LAMR shares. JPMorgan Chase & Co. dropped their price target on Lamar Advertising from $125.00 to $122.00 and set a "neutral" rating for the company in a research note on Monday, August 11th. Wells Fargo & Company reduced their target price on Lamar Advertising from $122.00 to $119.00 and set an "equal weight" rating on the stock in a research note on Monday, August 11th. Citigroup raised Lamar Advertising from a "neutral" rating to a "buy" rating and increased their price target for the stock from $114.00 to $135.00 in a research report on Thursday, May 29th. Finally, Morgan Stanley raised their price objective on Lamar Advertising from $125.00 to $135.00 and gave the company an "equal weight" rating in a research report on Monday, August 4th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Lamar Advertising has a consensus rating of "Hold" and an average price target of $134.20.

Lamar Advertising Stock Up 1.7%

Lamar Advertising stock opened at $122.61 on Thursday. The company has a debt-to-equity ratio of 3.45, a current ratio of 0.58 and a quick ratio of 0.58. Lamar Advertising Company has a 12 month low of $99.84 and a 12 month high of $139.88. The stock has a market capitalization of $12.41 billion, a PE ratio of 28.51 and a beta of 1.36. The business has a 50 day simple moving average of $122.49 and a 200-day simple moving average of $119.16.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last issued its earnings results on Friday, August 8th. The real estate investment trust reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.74. The company had revenue of $579.31 million during the quarter, compared to analysts' expectations of $580.72 million. Lamar Advertising had a return on equity of 41.85% and a net margin of 19.72%. Lamar Advertising has set its FY 2025 guidance at 6.090-6.11 EPS. On average, analysts anticipate that Lamar Advertising Company will post 7.92 EPS for the current fiscal year.

Lamar Advertising 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.

Want to see what other hedge funds are holding LAMR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lamar Advertising Company (NASDAQ:LAMR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.