Independent Solutions Wealth Management LLC Sells 491 Shares of Lamar Advertising (NASDAQ:LAMR)

Independent Solutions Wealth Management LLC lowered its stake in Lamar Advertising (NASDAQ:LAMR) by 1.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 32,305 shares of the real estate investment trust’s stock after selling 491 shares during the quarter. Lamar Advertising accounts for 1.0% of Independent Solutions Wealth Management LLC’s portfolio, making the stock its 25th biggest position. Independent Solutions Wealth Management LLC’s holdings in Lamar Advertising were worth $4,316,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Blue Trust Inc. grew its holdings in Lamar Advertising by 444.1% in the 3rd quarter. Blue Trust Inc. now owns 185 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 151 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Lamar Advertising in the third quarter worth about $25,000. Concord Wealth Partners purchased a new position in Lamar Advertising during the 3rd quarter valued at about $26,000. Whittier Trust Co. raised its position in Lamar Advertising by 144.4% during the 2nd quarter. Whittier Trust Co. now owns 220 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 130 shares during the last quarter. Finally, Assetmark Inc. lifted its holdings in 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 buying an additional 117 shares during the period. Institutional investors own 93.78% of the company’s stock.

Lamar Advertising Stock Up 1.3 %

Shares of Lamar Advertising stock traded up $1.60 on Thursday, reaching $123.57. The company’s stock had a trading volume of 316,310 shares, compared to its average volume of 410,003. Lamar Advertising has a 52 week low of $100.15 and a 52 week high of $139.88. The firm’s fifty day simple moving average is $131.88 and its two-hundred day simple moving average is $125.26. The company has a quick ratio of 0.56, a current ratio of 0.56 and a debt-to-equity ratio of 2.48. The company has a market capitalization of $12.65 billion, a price-to-earnings ratio of 24.71 and a beta of 1.50.

Lamar Advertising (NASDAQ:LAMR) last issued its 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). The business had revenue of $564.10 million during the quarter, compared to analysts’ expectations of $568.91 million. Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. Lamar Advertising’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the firm posted $2.04 EPS. Equities analysts anticipate that Lamar Advertising will post 7.52 earnings per share for the current year.

Lamar Advertising Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Wednesday, December 18th will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date is Wednesday, December 18th. Lamar Advertising’s dividend payout ratio (DPR) is presently 112.00%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LAMR. Wells Fargo & Company decreased their target price on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. StockNews.com lowered shares of Lamar Advertising from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. Morgan Stanley lifted 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, TD Cowen increased their target price on Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $132.40.

Lamar Advertising Company 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.