Assetmark Inc. Has $17.48 Million Stock Holdings in Lamar Advertising Company $LAMR

Assetmark Inc. lifted its stake in Lamar Advertising Company (NASDAQ:LAMR) by 13.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 137,988 shares of the real estate investment trust’s stock after purchasing an additional 16,365 shares during the quarter. Assetmark Inc.’s holdings in Lamar Advertising were worth $17,478,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. M&T Bank Corp boosted its holdings in shares of Lamar Advertising by 12,278.7% in the fourth quarter. M&T Bank Corp now owns 1,147,876 shares of the real estate investment trust’s stock worth $145,298,000 after buying an additional 1,138,603 shares during the period. Norges Bank purchased a new position in Lamar Advertising during the 4th quarter worth approximately $104,705,000. AQR Capital Management LLC grew its position in Lamar Advertising by 123.8% during the 2nd quarter. AQR Capital Management LLC now owns 1,475,525 shares of the real estate investment trust’s stock worth $177,152,000 after purchasing an additional 816,217 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Lamar Advertising by 97.8% in the third quarter. Invesco Ltd. now owns 991,990 shares of the real estate investment trust’s stock valued at $121,439,000 after purchasing an additional 490,463 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Lamar Advertising by 23.9% in the third quarter. Northern Trust Corp now owns 1,629,554 shares of the real estate investment trust’s stock worth $199,490,000 after buying an additional 314,235 shares during the period. Institutional investors and hedge funds own 93.78% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LAMR. Wells Fargo & Company increased their price objective on Lamar Advertising from $136.00 to $150.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Lamar Advertising in a research report on Friday, May 22nd. Morgan Stanley set a $145.00 price target on shares of Lamar Advertising in a report on Thursday, May 7th. Citigroup lowered shares of Lamar Advertising from a “buy” rating to a “neutral” rating and upped their price objective for the company from $145.00 to $160.00 in a research note on Friday, July 10th. Finally, TD Cowen raised their price target on Lamar Advertising from $150.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $150.50.

Lamar Advertising Price Performance

NASDAQ:LAMR opened at $162.32 on Monday. The company has a debt-to-equity ratio of 3.33, a current ratio of 0.58 and a quick ratio of 0.58. Lamar Advertising Company has a one year low of $113.66 and a one year high of $164.38. The company has a fifty day moving average price of $153.39 and a 200 day moving average price of $139.56. The stock has a market cap of $16.47 billion, a P/E ratio of 29.95 and a beta of 1.19.

Lamar Advertising (NASDAQ:LAMR) last posted its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.18. The company had revenue of $528.00 million for the quarter, compared to the consensus estimate of $522.86 million. Lamar Advertising had a net margin of 24.01% and a return on equity of 55.53%. Analysts anticipate that Lamar Advertising Company will post 8.41 earnings per share for the current year.

Lamar Advertising Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th were given a $1.60 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 3.9%. Lamar Advertising’s dividend payout ratio (DPR) is currently 118.08%.

Lamar Advertising Profile

Lamar Advertising Company (NASDAQ: LAMR) is one of North America’s largest outdoor advertising firms, specializing in out-of-home media solutions. Since its founding in 1902, the company has grown through a combination of organic expansion and strategic acquisitions to offer a broad portfolio of advertising products. Its core business centers on billboard advertising, encompassing traditional static billboards and a rapidly expanding network of digital displays. These assets enable advertisers to reach consumers with high-impact messaging along highways, in urban centers, and at high-traffic intersections.

In addition to highway billboards, Lamar offers a variety of supplemental out-of-home formats, including transit advertising on buses and shelters, and logo signage at travel plazas and gas stations.