State of New Jersey Common Pension Fund D Sells 418 Shares of Lamar Advertising (NASDAQ:LAMR)

State of New Jersey Common Pension Fund D decreased its position in Lamar Advertising (NASDAQ:LAMR) by 1.5% during the 4th quarter, HoldingsChannel reports. The fund owned 28,298 shares of the real estate investment trust’s stock after selling 418 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Lamar Advertising were worth $3,445,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Blue Trust Inc. lifted its position in shares of Lamar Advertising by 444.1% in the third 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. Brooklyn Investment Group bought a new position in Lamar Advertising in the third quarter valued at $25,000. Concord Wealth Partners acquired a new stake in Lamar Advertising in the 3rd quarter valued at $26,000. Assetmark Inc. lifted its position in Lamar Advertising by 109.3% during the 3rd quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 117 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in shares of Lamar Advertising by 46.6% during the 4th quarter. Versant Capital Management Inc now owns 450 shares of the real estate investment trust’s stock worth $55,000 after buying an additional 143 shares during the last quarter. Institutional investors and hedge funds own 93.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. TD Cowen lifted their target price on Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, November 11th. StockNews.com lowered Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Morgan Stanley increased their price objective on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Finally, Wells Fargo & Company decreased their target price on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $132.40.

Lamar Advertising Stock Performance

LAMR opened at $132.00 on Thursday. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48. Lamar Advertising has a 12-month low of $106.43 and a 12-month high of $139.88. The business has a 50 day moving average of $124.87 and a 200-day moving average of $127.35. The stock has a market cap of $13.51 billion, a price-to-earnings ratio of 26.40 and a beta of 1.51.

Lamar Advertising Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a dividend of $1.55 per share. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.40. This represents a $6.20 annualized dividend and a yield of 4.70%. Lamar Advertising’s dividend payout ratio (DPR) is currently 112.00%.

Lamar Advertising Company 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.