Golden State Wealth Management LLC Invests $28,000 in Lamar Advertising Company (NASDAQ:LAMR)

Golden State Wealth Management LLC purchased a new position in shares of Lamar Advertising Company (NASDAQ:LAMR) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 246 shares of the real estate investment trust’s stock, valued at approximately $28,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bessemer Group Inc. raised its position 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 Equity Partners raised its position in Lamar Advertising by 6.9% during the first quarter. Golden State Equity Partners now owns 4,794 shares of the real estate investment trust’s stock worth $545,000 after acquiring an additional 311 shares in the last quarter. Lecap Asset Management Ltd. bought a new stake in Lamar Advertising during the first quarter worth $2,317,000. Berry Wealth Group LP bought a new stake in Lamar Advertising during the first quarter worth $253,000. Finally, Asset Management One Co. Ltd. raised its position in shares of Lamar Advertising by 19.1% in the first quarter. Asset Management One Co. Ltd. now owns 157,173 shares of the real estate investment trust’s stock valued at $17,883,000 after purchasing an additional 25,259 shares during the period. 93.78% of the stock is owned by institutional investors.

Lamar Advertising Price Performance

Shares of LAMR opened at $124.14 on Friday. The firm has a market capitalization of $12.71 billion, a PE ratio of 30.13 and a beta of 1.33. The company’s 50-day moving average is $118.68 and its 200-day moving average is $119.18. Lamar Advertising Company has a fifty-two week low of $99.84 and a fifty-two week high of $139.88. The company has a debt-to-equity ratio of 2.89, a current ratio of 0.57 and a quick ratio of 0.57.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings data on Thursday, May 8th. The real estate investment trust reported $1.60 earnings per share 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 for the quarter, compared to analyst estimates of $509.72 million. Equities analysts forecast that Lamar Advertising Company will post 7.92 EPS for the current year.

Lamar Advertising Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were paid a $1.55 dividend. The ex-dividend date was Monday, June 16th. This represents a $6.20 annualized dividend and a dividend yield of 4.99%. Lamar Advertising’s dividend payout ratio (DPR) is presently 150.49%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Morgan Stanley dropped their price objective on shares of Lamar Advertising from $135.00 to $125.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 1st. Citigroup raised shares of Lamar Advertising from a “neutral” rating to a “buy” rating and increased their price objective for the company from $114.00 to $135.00 in a research report on Thursday, May 29th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Lamar Advertising presently has a consensus rating of “Hold” and a consensus price target of $134.00.

About Lamar Advertising

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.