Louisiana State Employees Retirement System Invests $2.61 Million in Lamar Advertising (NASDAQ:LAMR)

Louisiana State Employees Retirement System purchased a new stake in Lamar Advertising (NASDAQ:LAMR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 24,600 shares of the real estate investment trust's stock, valued at approximately $2,614,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Cerity Partners LLC increased its stake in Lamar Advertising by 64.4% in the fourth quarter. Cerity Partners LLC now owns 4,152 shares of the real estate investment trust's stock valued at $441,000 after acquiring an additional 1,627 shares during the period. Miller Howard Investments Inc. NY lifted its holdings in Lamar Advertising by 6.2% during the 4th quarter. Miller Howard Investments Inc. NY now owns 390,474 shares of the real estate investment trust's stock valued at $41,500,000 after purchasing an additional 22,778 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Lamar Advertising in the fourth quarter valued at about $6,190,000. Centurion Wealth Management LLC bought a new stake in Lamar Advertising during the fourth quarter worth about $243,000. Finally, Arlington Trust Co LLC acquired a new position in shares of Lamar Advertising in the 4th quarter worth approximately $57,000. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. StockNews.com upgraded Lamar Advertising from a "hold" rating to a "buy" rating in a research report on Tuesday, March 5th. JPMorgan Chase & Co. boosted their target price on shares of Lamar Advertising from $92.00 to $109.00 and gave the stock a "neutral" rating in a research note on Monday, February 26th. Finally, Morgan Stanley increased their price target on shares of Lamar Advertising from $105.00 to $110.00 and gave the company an "equal weight" rating in a research note on Monday, February 26th.

Insider Activity at Lamar Advertising

In other news, CFO Jay Lecoryelle Johnson sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $118.97, for a total value of $594,850.00. Following the completion of the transaction, the chief financial officer now directly owns 10,000 shares in the company, valued at approximately $1,189,700. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 14.98% of the stock is currently owned by corporate insiders.

Lamar Advertising Trading Up 0.1 %

Shares of NASDAQ:LAMR traded up $0.08 during midday trading on Tuesday, hitting $111.28. The company had a trading volume of 349,083 shares, compared to its average volume of 416,324. The stock has a market cap of $11.36 billion, a price-to-earnings ratio of 22.94 and a beta of 1.50. Lamar Advertising has a 12 month low of $77.21 and a 12 month high of $121.99. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 2.55. The firm has a fifty day simple moving average of $113.05 and a 200 day simple moving average of $102.79.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last issued its quarterly earnings data on Friday, February 23rd. The real estate investment trust reported $1.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.49). The business had revenue of $555.91 million during the quarter, compared to analyst estimates of $549.84 million. Lamar Advertising had a net margin of 23.49% and a return on equity of 41.88%. During the same quarter in the prior year, the firm posted $1.91 earnings per share. On average, analysts predict that Lamar Advertising will post 7.54 EPS for the current year.

Lamar Advertising Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a dividend of $1.30 per share. The ex-dividend date was Thursday, March 14th. This is an increase from Lamar Advertising's previous quarterly dividend of $1.25. This represents a $5.20 annualized dividend and a yield of 4.67%. Lamar Advertising's dividend payout ratio (DPR) is 107.22%.

About Lamar Advertising

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.