Assetmark Inc. Boosts Holdings in Lamar Advertising (NASDAQ:LAMR)

Assetmark Inc. boosted its stake in Lamar Advertising (NASDAQ:LAMR) by 109.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 224 shares of the real estate investment trust’s stock after acquiring an additional 117 shares during the period. Assetmark Inc.’s holdings in Lamar Advertising were worth $30,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Lamar Advertising by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 12,708,765 shares of the real estate investment trust’s stock worth $1,517,554,000 after acquiring an additional 68,484 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Lamar Advertising by 6.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,332,586 shares of the real estate investment trust’s stock valued at $159,283,000 after purchasing an additional 75,955 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Lamar Advertising by 81.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 937,440 shares of the real estate investment trust’s stock worth $112,052,000 after purchasing an additional 420,311 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Lamar Advertising by 4.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 566,644 shares of the real estate investment trust’s stock worth $67,664,000 after purchasing an additional 22,382 shares in the last quarter. Finally, Boston Trust Walden Corp raised its position in shares of Lamar Advertising by 2.0% in the third quarter. Boston Trust Walden Corp now owns 407,813 shares of the real estate investment trust’s stock valued at $54,484,000 after purchasing an additional 8,135 shares during the period. 93.78% of the stock is currently owned by hedge funds and other institutional investors.

Lamar Advertising Price Performance

NASDAQ:LAMR opened at $127.68 on Wednesday. Lamar Advertising has a 52-week low of $97.21 and a 52-week high of $139.88. The stock has a fifty day moving average of $132.20 and a 200 day moving average of $123.48. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.56 and a current ratio of 0.56. The firm has a market capitalization of $13.07 billion, a price-to-earnings ratio of 25.54 and a beta of 1.52.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. The business had revenue of $564.10 million for the quarter, compared to the consensus estimate of $568.91 million. During the same quarter last year, the business posted $2.04 EPS. The business’s revenue was up 4.0% compared to the same quarter last year. On average, research analysts expect that Lamar Advertising will post 7.75 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Wednesday, September 18th were issued a $1.40 dividend. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 4.39%. Lamar Advertising’s dividend payout ratio is presently 112.00%.

Analyst Upgrades and Downgrades

Several research firms recently commented on LAMR. TD Cowen raised their price objective on shares of Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, November 11th. StockNews.com cut Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Wells Fargo & Company dropped their price objective on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. JPMorgan Chase & Co. lifted their target price on Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, Morgan Stanley upped their price target on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Lamar Advertising has a consensus rating of “Hold” and an average target price of $132.40.

Lamar Advertising 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.