Lamar Advertising (NASDAQ:LAMR) Shares Acquired by Assetmark Inc.

Assetmark Inc. raised its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 11,519.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,028 shares of the real estate investment trust’s stock after purchasing an additional 25,804 shares during the quarter. Assetmark Inc.’s holdings in Lamar Advertising were worth $3,169,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of LAMR. Janus Henderson Group PLC increased its stake in shares of Lamar Advertising by 2.9% in the third quarter. Janus Henderson Group PLC now owns 4,248,660 shares of the real estate investment trust’s stock worth $567,632,000 after acquiring an additional 119,068 shares during the period. State Street Corp increased its stake in shares of Lamar Advertising by 0.8% in the third quarter. State Street Corp now owns 2,640,356 shares of the real estate investment trust’s stock worth $352,752,000 after acquiring an additional 21,852 shares during the period. Geode Capital Management LLC increased its stake in shares of Lamar Advertising by 4.6% in the third quarter. Geode Capital Management LLC now owns 2,054,962 shares of the real estate investment trust’s stock worth $274,595,000 after acquiring an additional 90,775 shares during the period. Wellington Management Group LLP increased its stake in shares of Lamar Advertising by 45.5% in the third quarter. Wellington Management Group LLP now owns 1,974,848 shares of the real estate investment trust’s stock worth $263,840,000 after acquiring an additional 617,356 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Lamar Advertising by 6.5% in the third quarter. JPMorgan Chase & Co. now owns 1,497,702 shares of the real estate investment trust’s stock worth $200,093,000 after acquiring an additional 90,933 shares during the period. Institutional investors and hedge funds own 93.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. JPMorgan Chase & Co. dropped their price target on shares of Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating on the stock in a research report on Friday, February 21st. Morgan Stanley increased their price objective on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Wells Fargo & Company decreased 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 report on Monday, November 11th. StockNews.com downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Finally, TD Cowen increased their price objective on shares of Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a report on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Lamar Advertising currently has an average rating of “Hold” and a consensus target price of $134.60.

Lamar Advertising Price Performance

Shares of LAMR stock opened at $125.28 on Monday. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.56. The firm’s 50-day moving average is $124.53 and its two-hundred day moving average is $127.99. Lamar Advertising has a 12 month low of $108.80 and a 12 month high of $139.88. The company has a market capitalization of $12.83 billion, a PE ratio of 35.49 and a beta of 1.53.

Lamar Advertising (NASDAQ:LAMR) last issued its earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.74. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. The company had revenue of $579.57 million for the quarter, compared to the consensus estimate of $583.19 million. Analysts predict that Lamar Advertising will post 7.92 earnings per share for the current year.

Lamar Advertising Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $1.55 per share. The ex-dividend date is Friday, March 14th. This is a boost from Lamar Advertising’s previous quarterly dividend of $1.40. This represents a $6.20 dividend on an annualized basis and a dividend yield of 4.95%. Lamar Advertising’s dividend payout ratio (DPR) is currently 175.64%.

About Lamar Advertising

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.