Envestnet Asset Management Inc. Acquires 22,671 Shares of Lamar Advertising Company (NASDAQ:LAMR)

Envestnet Asset Management Inc. grew its holdings in Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 5.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 454,396 shares of the real estate investment trust's stock after purchasing an additional 22,671 shares during the period. Envestnet Asset Management Inc. owned approximately 0.44% of Lamar Advertising worth $51,701,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of LAMR. Bessemer Group Inc. raised its stake in Lamar Advertising by 33.9% during the first quarter. Bessemer Group Inc. now owns 371 shares of the real estate investment trust's stock worth $42,000 after acquiring an additional 94 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Lamar Advertising in the 1st quarter valued at approximately $28,000. Farther Finance Advisors LLC grew its holdings in shares of Lamar Advertising by 101.2% during the 1st quarter. Farther Finance Advisors LLC now owns 2,446 shares of the real estate investment trust's stock valued at $277,000 after purchasing an additional 1,230 shares during the last quarter. SG Americas Securities LLC acquired a new position in Lamar Advertising during the 1st quarter worth approximately $1,007,000. Finally, Fifth Third Bancorp lifted its stake in Lamar Advertising by 9.3% in the 1st quarter. Fifth Third Bancorp now owns 5,584 shares of the real estate investment trust's stock valued at $635,000 after purchasing an additional 475 shares during the last quarter. Institutional investors and hedge funds own 93.78% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on LAMR. Morgan Stanley lowered their price target on shares of Lamar Advertising from $135.00 to $125.00 and set an "equal weight" rating for the company in a report on Thursday, May 1st. Citigroup upgraded Lamar Advertising from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $114.00 to $135.00 in a research report on Thursday, May 29th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $134.00.

Lamar Advertising Price Performance

LAMR stock opened at $125.67 on Friday. The company has a debt-to-equity ratio of 2.89, a quick ratio of 0.57 and a current ratio of 0.57. Lamar Advertising Company has a 52-week low of $99.84 and a 52-week high of $139.88. The company has a market capitalization of $12.87 billion, a P/E ratio of 30.50 and a beta of 1.33. The company has a fifty day moving average price of $119.90 and a 200-day moving average price of $119.17.

Lamar Advertising (NASDAQ:LAMR - Get Free Report) last announced its earnings results on Thursday, May 8th. The real estate investment trust reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.06. The business had revenue of $505.43 million during the quarter, compared to analyst estimates of $509.72 million. Lamar Advertising had a return on equity of 37.62% and a net margin of 19.08%. As a group, equities analysts expect that Lamar Advertising Company will post 7.92 EPS for the current year.

Lamar Advertising Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were given a dividend of $1.55 per share. This represents a $6.20 annualized dividend and a dividend yield of 4.93%. The ex-dividend date of this dividend was Monday, June 16th. Lamar Advertising's dividend payout ratio (DPR) is presently 150.49%.

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.

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