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

Assetmark Inc. grew its position in shares of Lamar Advertising Company (NASDAQ:LAMR - Free Report) by 40.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,470 shares of the real estate investment trust's stock after purchasing an additional 10,442 shares during the quarter. Assetmark Inc.'s holdings in Lamar Advertising were worth $4,150,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in LAMR. Bessemer Group Inc. raised its position in shares of Lamar Advertising by 33.9% in 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 during the period. Golden State Wealth Management LLC purchased a new position in shares of Lamar Advertising in the 1st quarter valued at about $28,000. Farther Finance Advisors LLC increased its stake in shares of Lamar Advertising by 101.2% in 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 in the last quarter. SG Americas Securities LLC acquired a new position in Lamar Advertising in the 1st quarter worth about $1,007,000. Finally, Fifth Third Bancorp boosted its position in Lamar Advertising by 9.3% during the first quarter. Fifth Third Bancorp now owns 5,584 shares of the real estate investment trust's stock worth $635,000 after purchasing an additional 475 shares in the last quarter. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Lamar Advertising Price Performance

Shares of LAMR traded down $1.67 during trading hours on Friday, hitting $120.58. 358,589 shares of the stock were exchanged, compared to its average volume of 603,821. The stock's 50-day moving average price is $122.05 and its two-hundred day moving average price is $119.54. The company has a debt-to-equity ratio of 2.89, a quick ratio of 0.57 and a current ratio of 0.57. The company has a market cap of $12.35 billion, a price-to-earnings ratio of 29.28 and a beta of 1.33. Lamar Advertising Company has a 12-month low of $99.84 and a 12-month high of $139.88.

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

Lamar Advertising Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend was Monday, June 16th. This represents a $6.20 annualized dividend and a dividend yield of 5.1%. Lamar Advertising's payout ratio is presently 150.49%.

Analyst Ratings Changes

A number of analysts have recently commented on LAMR shares. Morgan Stanley cut their price objective on Lamar Advertising from $135.00 to $125.00 and set an "equal weight" rating for the company in a research report on Thursday, May 1st. Citigroup upgraded shares of Lamar Advertising from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $114.00 to $135.00 in a research report on Thursday, May 29th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $134.00.

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.