Ontario Teachers Pension Plan Board Sells 6,576 Shares of Lamar Advertising (NASDAQ:LAMR)

Ontario Teachers Pension Plan Board reduced its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 25.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,014 shares of the real estate investment trust’s stock after selling 6,576 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Lamar Advertising were worth $2,540,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in LAMR. Blue Trust Inc. boosted its position in shares of Lamar Advertising by 444.1% during the 3rd quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 151 shares in the last quarter. Whittier Trust Co. raised its stake in Lamar Advertising by 144.4% during the 2nd quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 130 shares during the period. Concord Wealth Partners bought a new position in Lamar Advertising in the third quarter worth approximately $26,000. MFA Wealth Advisors LLC acquired a new stake in Lamar Advertising in the second quarter valued at approximately $30,000. Finally, Assetmark Inc. increased its holdings in shares of Lamar Advertising by 109.3% during the third quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 117 shares in the last quarter. Institutional investors own 93.78% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on LAMR shares. TD Cowen increased their target price on Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Wells Fargo & Company dropped their price objective on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. JPMorgan Chase & Co. lifted their price objective on shares of Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. StockNews.com lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Finally, Morgan Stanley lifted their price target on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $132.40.

Lamar Advertising Trading Up 0.1 %

NASDAQ:LAMR opened at $127.68 on Wednesday. Lamar Advertising has a 52 week low of $97.21 and a 52 week high of $139.88. The firm has a 50-day moving average price of $132.20 and a two-hundred day moving average price of $123.48. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market cap of $13.07 billion, a price-to-earnings ratio of 25.54 and a beta of 1.52.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Friday, November 8th. The real estate investment trust reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. The business had revenue of $564.10 million for the quarter, compared to analysts’ expectations of $568.91 million. During the same period in the previous year, the business posted $2.04 earnings per share. The business’s revenue was up 4.0% compared to the same quarter last year. On average, equities analysts expect that Lamar Advertising will post 7.75 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Wednesday, September 18th were paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.39%. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.30. The ex-dividend date was Wednesday, September 18th. Lamar Advertising’s payout ratio is presently 112.00%.

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.