CarsonAllaria Wealth Management Ltd. Cuts Stock Holdings in Lamar Advertising (NASDAQ:LAMR)

CarsonAllaria Wealth Management Ltd. lowered its position in Lamar Advertising (NASDAQ:LAMR) by 15.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,269 shares of the real estate investment trust’s stock after selling 406 shares during the period. CarsonAllaria Wealth Management Ltd.’s holdings in Lamar Advertising were worth $276,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its stake in shares of Lamar Advertising by 444.1% in the third quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 151 shares during the period. Brooklyn Investment Group acquired a new stake in shares of Lamar Advertising during the 3rd quarter valued at approximately $25,000. Concord Wealth Partners purchased a new stake in shares of Lamar Advertising during the 3rd quarter worth approximately $26,000. Assetmark Inc. grew its holdings in shares of Lamar Advertising by 109.3% in the 3rd quarter. Assetmark Inc. now owns 224 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 117 shares during the period. Finally, Versant Capital Management Inc increased its stake in Lamar Advertising by 46.6% in the 4th quarter. Versant Capital Management Inc now owns 450 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 143 shares in the last quarter. Hedge funds and other institutional investors own 93.78% of the company’s stock.

Lamar Advertising Price Performance

LAMR stock opened at $125.10 on Wednesday. The firm has a market cap of $12.81 billion, a P/E ratio of 25.02 and a beta of 1.51. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.56 and a current ratio of 0.56. Lamar Advertising has a 1 year low of $102.10 and a 1 year high of $139.88. The stock has a 50-day simple moving average of $125.81 and a 200-day simple moving average of $126.65.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings results on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). Lamar Advertising had a net margin of 23.46% and a return on equity of 42.58%. The firm had revenue of $564.10 million for the quarter, compared to analyst estimates of $568.91 million. During the same period in the previous year, the business posted $2.04 earnings per share. Lamar Advertising’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, equities analysts predict that Lamar Advertising will post 7.49 earnings per share for the current fiscal year.

Lamar Advertising Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Wednesday, December 18th were paid a dividend of $1.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $5.60 dividend on an annualized basis and a yield of 4.48%. Lamar Advertising’s dividend payout ratio (DPR) is 112.00%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LAMR. TD Cowen increased their price target on shares of Lamar Advertising from $142.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, November 11th. StockNews.com downgraded Lamar Advertising from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Morgan Stanley increased their price objective on Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Finally, Wells Fargo & Company cut their target price on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $132.40.

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.