State of Tennessee Treasury Department boosted its position in Lamar Advertising Company (NASDAQ:LAMR) by 25.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,000 shares of the real estate investment trust’s stock after purchasing an additional 10,000 shares during the period. State of Tennessee Treasury Department owned about 0.05% of Lamar Advertising worth $3,427,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LAMR. Westpac Banking Corp purchased a new position in Lamar Advertising during the second quarter worth $176,000. Penserra Capital Management LLC increased its position in Lamar Advertising by 9.5% during the second quarter. Penserra Capital Management LLC now owns 2,478 shares of the real estate investment trust’s stock worth $182,000 after buying an additional 214 shares in the last quarter. Verity Asset Management Inc. purchased a new position in Lamar Advertising during the second quarter worth $204,000. SPC Financial Inc. purchased a new position in Lamar Advertising during the second quarter worth $221,000. Finally, Creative Planning increased its position in Lamar Advertising by 4.7% during the second quarter. Creative Planning now owns 3,042 shares of the real estate investment trust’s stock worth $224,000 after buying an additional 136 shares in the last quarter. 85.71% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have weighed in on the company. Wells Fargo & Company downgraded Lamar Advertising from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 26th. Citigroup Inc. reissued a “neutral” rating and set a $66.00 price target (down previously from $69.00) on shares of Lamar Advertising in a research report on Friday, August 11th. ValuEngine downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Friday, September 22nd. BidaskClub downgraded Lamar Advertising from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. Finally, MKM Partners dropped their price target on Lamar Advertising from $72.00 to $64.00 and set a “neutral” rating for the company in a research report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $73.00.

Shares of Lamar Advertising Company (NASDAQ:LAMR) opened at $76.46 on Friday. Lamar Advertising Company has a fifty-two week low of $62.30 and a fifty-two week high of $79.09. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 2.23. The stock has a market capitalization of $7,449.26, a price-to-earnings ratio of 15.17, a PEG ratio of 5.22 and a beta of 1.14.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings data on Monday, November 6th. The real estate investment trust reported $0.98 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.34). Lamar Advertising had a return on equity of 29.03% and a net margin of 20.33%. The business had revenue of $399.30 million for the quarter, compared to analyst estimates of $392.10 million. During the same quarter last year, the business earned $0.87 EPS. Lamar Advertising’s revenue for the quarter was up 3.0% compared to the same quarter last year. research analysts expect that Lamar Advertising Company will post 4.83 EPS for the current fiscal year.

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About Lamar Advertising

Lamar Advertising Company is an outdoor advertising company in the United States. The Company operates in the advertising segment. The Company sells advertising on billboards, buses, shelters, benches and logo plates. It operates three types of outdoor advertising displays: billboards, logo signs and transit advertising displays.

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Institutional Ownership by Quarter for Lamar Advertising (NASDAQ:LAMR)

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