CarsonAllaria Wealth Management Ltd. Sells 143 Shares of Lamar Advertising (NASDAQ:LAMR)

CarsonAllaria Wealth Management Ltd. lowered its position in shares of Lamar Advertising (NASDAQ:LAMR) by 5.1% in the third quarter, HoldingsChannel.com reports. The fund owned 2,675 shares of the real estate investment trust’s stock after selling 143 shares during the quarter. CarsonAllaria Wealth Management Ltd.’s holdings in Lamar Advertising were worth $357,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jamison Private Wealth Management Inc. increased its stake in shares of Lamar Advertising by 6.6% in the 3rd quarter. Jamison Private Wealth Management Inc. now owns 1,349 shares of the real estate investment trust’s stock valued at $180,000 after purchasing an additional 84 shares in the last quarter. Global Retirement Partners LLC increased its stake in shares of Lamar Advertising by 1.0% in the 3rd quarter. Global Retirement Partners LLC now owns 9,945 shares of the real estate investment trust’s stock valued at $1,329,000 after purchasing an additional 97 shares in the last quarter. SPC Financial Inc. increased its stake in shares of Lamar Advertising by 3.6% in the 1st quarter. SPC Financial Inc. now owns 3,003 shares of the real estate investment trust’s stock valued at $359,000 after purchasing an additional 103 shares in the last quarter. Woodward Diversified Capital LLC increased its stake in Lamar Advertising by 2.6% during the 1st quarter. Woodward Diversified Capital LLC now owns 4,505 shares of the real estate investment trust’s stock worth $538,000 after buying an additional 113 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC increased its stake in Lamar Advertising by 1.8% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 6,603 shares of the real estate investment trust’s stock worth $789,000 after buying an additional 114 shares in the last quarter. Institutional investors and hedge funds own 93.78% of the company’s stock.

Lamar Advertising Trading Down 0.1 %

LAMR stock traded down $0.11 during midday trading on Monday, hitting $136.04. 48,728 shares of the company’s stock were exchanged, compared to its average volume of 404,348. The business has a 50-day simple moving average of $127.80 and a two-hundred day simple moving average of $120.79. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 2.31. The stock has a market capitalization of $13.91 billion, a PE ratio of 27.96 and a beta of 1.52. Lamar Advertising has a 1-year low of $79.94 and a 1-year high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last posted its earnings results on Thursday, August 8th. The real estate investment trust reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.67). Lamar Advertising had a return on equity of 42.18% and a net margin of 23.34%. The business had revenue of $565.25 million for the quarter, compared to analyst estimates of $564.96 million. During the same period last year, the business earned $1.90 EPS. Lamar Advertising’s revenue was up 4.5% compared to the same quarter last year. On average, sell-side analysts predict that Lamar Advertising will post 7.75 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Wednesday, September 18th were issued a $1.40 dividend. The ex-dividend date was Wednesday, September 18th. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.30. This represents a $5.60 dividend on an annualized basis and a yield of 4.12%. Lamar Advertising’s dividend payout ratio (DPR) is 114.99%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on LAMR shares. StockNews.com upgraded Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday. JPMorgan Chase & Co. upped their price target on Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Wells Fargo & Company began coverage on Lamar Advertising in a research report on Thursday, September 19th. They issued an “equal weight” rating and a $132.00 price target for the company. TD Cowen upped their price target on Lamar Advertising from $135.00 to $140.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, Citigroup lowered Lamar Advertising from a “buy” rating to a “neutral” rating and set a $122.00 price target for the company. in a research report on Thursday, July 11th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $125.00.

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.