Independent Solutions Wealth Management LLC Cuts Holdings in Lamar Advertising (NASDAQ:LAMR)

Independent Solutions Wealth Management LLC lowered its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,907 shares of the real estate investment trust’s stock after selling 398 shares during the period. Independent Solutions Wealth Management LLC’s holdings in Lamar Advertising were worth $3,884,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Wellington Management Group LLP lifted its position in shares of Lamar Advertising by 45.5% during the third quarter. Wellington Management Group LLP now owns 1,974,848 shares of the real estate investment trust’s stock valued at $263,840,000 after buying an additional 617,356 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Lamar Advertising by 108.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 905,368 shares of the real estate investment trust’s stock worth $110,220,000 after acquiring an additional 470,805 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Lamar Advertising during the fourth quarter valued at approximately $48,023,000. Duff & Phelps Investment Management Co. boosted its stake in Lamar Advertising by 631.7% in the third quarter. Duff & Phelps Investment Management Co. now owns 180,296 shares of the real estate investment trust’s stock valued at $24,088,000 after acquiring an additional 155,656 shares in the last quarter. Finally, Boston Partners boosted its stake in Lamar Advertising by 6.7% in the fourth quarter. Boston Partners now owns 2,423,981 shares of the real estate investment trust’s stock valued at $295,122,000 after acquiring an additional 152,575 shares in the last quarter. Institutional investors own 93.78% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on LAMR. JPMorgan Chase & Co. reduced their target price on Lamar Advertising from $129.00 to $126.00 and set a “neutral” rating on the stock in a research report on Friday, February 21st. Citigroup upped their price objective on shares of Lamar Advertising from $121.76 to $128.00 and gave the company a “neutral” rating in a report on Tuesday, February 25th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $134.60.

Lamar Advertising Stock Performance

Shares of LAMR opened at $112.15 on Friday. The stock has a 50-day moving average of $123.35 and a two-hundred day moving average of $127.40. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market cap of $11.48 billion, a P/E ratio of 31.77 and a beta of 1.53. Lamar Advertising has a one year low of $108.80 and a one year high of $139.88.

Lamar Advertising (NASDAQ:LAMR) last released its earnings results on Thursday, February 20th. The real estate investment trust reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.74. Lamar Advertising had a return on equity of 30.20% and a net margin of 16.40%. The firm had revenue of $579.57 million during the quarter, compared to the consensus estimate of $583.19 million. As a group, research analysts predict that Lamar Advertising will post 7.92 EPS for the current year.

Lamar Advertising Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $1.55 per share. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.40. This represents a $6.20 dividend on an annualized basis and a yield of 5.53%. Lamar Advertising’s payout ratio is currently 175.64%.

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.