Teachers Insurance & Annuity Association of America cut its holdings in shares of Lamar Advertising Co (NASDAQ:LAMR) by 60.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 30,817 shares of the real estate investment trust’s stock after selling 47,677 shares during the period. Teachers Insurance & Annuity Association of America’s holdings in Lamar Advertising were worth $2,487,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Semmax Financial Advisors Inc. raised its holdings in Lamar Advertising by 114.1% in the second quarter. Semmax Financial Advisors Inc. now owns 22,871 shares of the real estate investment trust’s stock worth $1,846,000 after purchasing an additional 12,190 shares in the last quarter. Cullen Frost Bankers Inc. raised its stake in shares of Lamar Advertising by 34.6% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 673 shares of the real estate investment trust’s stock worth $54,000 after acquiring an additional 173 shares in the last quarter. Brasada Capital Management LP raised its stake in shares of Lamar Advertising by 1,243.7% during the 1st quarter. Brasada Capital Management LP now owns 20,760 shares of the real estate investment trust’s stock worth $1,645,000 after acquiring an additional 19,215 shares in the last quarter. Dearborn Partners LLC purchased a new stake in Lamar Advertising during the second quarter valued at approximately $239,000. Finally, Charter Trust Co. lifted its position in Lamar Advertising by 19.6% during the second quarter. Charter Trust Co. now owns 15,864 shares of the real estate investment trust’s stock valued at $1,280,000 after acquiring an additional 2,595 shares during the last quarter. Hedge funds and other institutional investors own 81.02% of the company’s stock.

Several brokerages have weighed in on LAMR. ValuEngine downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Imperial Capital reduced their price target on Lamar Advertising from $89.00 to $86.00 and set an “outperform” rating on the stock in a research report on Wednesday. They noted that the move was a valuation call. Finally, BidaskClub lowered Lamar Advertising from a “hold” rating to a “sell” rating in a report on Saturday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Lamar Advertising currently has an average rating of “Hold” and a consensus price target of $80.75.

Lamar Advertising stock traded up $1.50 during midday trading on Wednesday, reaching $78.54. The company’s stock had a trading volume of 18,935 shares, compared to its average volume of 293,573. The company has a debt-to-equity ratio of 3.33, a current ratio of 0.50 and a quick ratio of 0.50. The stock has a market capitalization of $7.67 billion, a P/E ratio of 14.28 and a beta of 0.96. The stock’s 50-day simple moving average is $77.56 and its 200-day simple moving average is $79.52. Lamar Advertising Co has a 52-week low of $64.51 and a 52-week high of $84.50.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Wednesday, August 7th. The real estate investment trust reported $1.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.60 by ($0.42). Lamar Advertising had a return on equity of 32.10% and a net margin of 21.39%. The business had revenue of $448.74 million for the quarter, compared to analysts’ expectations of $451.85 million. During the same quarter in the previous year, the firm posted $1.02 EPS. Lamar Advertising’s revenue was up 6.9% on a year-over-year basis. As a group, equities research analysts expect that Lamar Advertising Co will post 5.62 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date is Friday, September 13th. Lamar Advertising’s dividend payout ratio (DPR) is presently 69.82%.

Lamar Advertising Company Profile

Founded in 1902, Lamar Advertising (Nasdaq: LAMR) is one of the largest outdoor advertising companies in North America, with approximately 360,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day.

Further Reading: Outstanding Shares

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

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