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

Assetmark Inc. lifted its holdings in Lamar Advertising (NASDAQ:LAMR) by 11,519.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,028 shares of the real estate investment trust’s stock after purchasing an additional 25,804 shares during the period. 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 institutional investors have also recently made changes to their positions in LAMR. Janus Henderson Group PLC lifted its stake in 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 last quarter. State Street Corp lifted its stake in 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 last quarter. Geode Capital Management LLC lifted its stake in 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 last quarter. Wellington Management Group LLP lifted its stake in 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 last quarter. Finally, JPMorgan Chase & Co. lifted its stake in 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 last quarter. Institutional investors and hedge funds own 93.78% of the company’s stock.

Analysts Set New Price Targets

LAMR has been the subject of a number of recent research reports. Morgan Stanley lifted their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Wells Fargo & Company decreased their price target 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. TD Cowen lifted their price target on shares of Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. StockNews.com downgraded shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Citigroup boosted their price objective on shares of Lamar Advertising from $121.76 to $128.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 25th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Lamar Advertising currently has a consensus rating of “Hold” and an average price target of $134.60.

Lamar Advertising Stock Up 1.6 %

Shares of NASDAQ:LAMR opened at $125.28 on Monday. The company has a market capitalization of $12.83 billion, a PE ratio of 35.49 and a beta of 1.53. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48. Lamar Advertising has a twelve month low of $108.80 and a twelve month high of $139.88. The firm has a 50 day simple moving average of $124.53 and a 200-day simple moving average of $127.99.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, beating the consensus estimate of $1.47 by $0.74. Lamar Advertising had a net margin of 16.40% and a return on equity of 30.20%. The firm had revenue of $579.57 million during the quarter, compared to the consensus estimate of $583.19 million. On average, equities analysts predict that Lamar Advertising will post 7.92 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a $1.55 dividend. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.40. The ex-dividend date is Friday, March 14th. This represents a $6.20 annualized dividend and a yield of 4.95%. Lamar Advertising’s dividend payout ratio is 175.64%.

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.