Lamar Advertising Company $LAMR Position Cut by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board lowered its holdings in shares of Lamar Advertising Company (NASDAQ:LAMR) by 5.0% during the 3rd quarter, Holdings Channel reports. The fund owned 72,820 shares of the real estate investment trust’s stock after selling 3,869 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Lamar Advertising were worth $8,915,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of Lamar Advertising by 27.8% during the second quarter. Geode Capital Management LLC now owns 2,344,637 shares of the real estate investment trust’s stock valued at $284,577,000 after purchasing an additional 510,025 shares during the period. AQR Capital Management LLC grew its position in Lamar Advertising by 123.8% in the 2nd quarter. AQR Capital Management LLC now owns 1,475,525 shares of the real estate investment trust’s stock valued at $177,152,000 after buying an additional 816,217 shares in the last quarter. Daiwa Securities Group Inc. grew its position in Lamar Advertising by 0.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 1,299,419 shares of the real estate investment trust’s stock valued at $157,697,000 after buying an additional 5,080 shares in the last quarter. Berkshire Hathaway Inc acquired a new position in Lamar Advertising during the 2nd quarter valued at about $141,931,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Lamar Advertising by 4.8% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,162,468 shares of the real estate investment trust’s stock worth $141,077,000 after buying an additional 52,800 shares in the last quarter. Institutional investors and hedge funds own 93.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on LAMR shares. JPMorgan Chase & Co. increased their price objective on shares of Lamar Advertising from $122.00 to $128.00 and gave the company a “neutral” rating in a report on Wednesday, November 12th. Weiss Ratings restated a “hold (c+)” rating on shares of Lamar Advertising in a research report on Monday, December 29th. Morgan Stanley set a $140.00 price target on Lamar Advertising in a research report on Tuesday, December 16th. Finally, Citigroup boosted their price objective on Lamar Advertising from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $133.00.

Lamar Advertising Stock Performance

Shares of NASDAQ LAMR opened at $133.73 on Thursday. The stock’s fifty day simple moving average is $129.12 and its 200 day simple moving average is $126.10. The stock has a market capitalization of $13.54 billion, a price-to-earnings ratio of 31.39 and a beta of 1.23. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 3.04. Lamar Advertising Company has a 52-week low of $99.84 and a 52-week high of $136.69.

Lamar Advertising Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 22nd were issued a dividend of $1.55 per share. The ex-dividend date was Monday, December 22nd. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.6%. Lamar Advertising’s payout ratio is currently 145.54%.

Lamar Advertising Profile

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.