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

Independent Solutions Wealth Management LLC decreased its position in Lamar Advertising (NASDAQ:LAMR) by 1.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,305 shares of the real estate investment trust’s stock after selling 491 shares during the period. Lamar Advertising comprises approximately 1.0% of Independent Solutions Wealth Management LLC’s portfolio, making the stock its 25th biggest holding. Independent Solutions Wealth Management LLC’s holdings in Lamar Advertising were worth $4,316,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Janus Henderson Group PLC lifted its stake in shares of Lamar Advertising by 2.9% during the 3rd quarter. Janus Henderson Group PLC now owns 4,248,660 shares of the real estate investment trust’s stock valued at $567,632,000 after buying an additional 119,068 shares in the last quarter. State Street Corp raised its holdings in Lamar Advertising by 0.8% during the 3rd quarter. State Street Corp now owns 2,640,356 shares of the real estate investment trust’s stock valued at $352,752,000 after acquiring an additional 21,852 shares during the period. Geode Capital Management LLC lifted its position in shares of Lamar Advertising by 4.6% during the third quarter. Geode Capital Management LLC now owns 2,054,962 shares of the real estate investment trust’s stock worth $274,595,000 after acquiring an additional 90,775 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Lamar Advertising by 45.5% in the third quarter. Wellington Management Group LLP now owns 1,974,848 shares of the real estate investment trust’s stock worth $263,840,000 after acquiring an additional 617,356 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Lamar Advertising by 6.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,332,586 shares of the real estate investment trust’s stock valued at $159,283,000 after purchasing an additional 75,955 shares in the last quarter. 93.78% of the stock is owned by institutional investors.

Lamar Advertising Price Performance

LAMR traded up $1.60 on Thursday, reaching $123.57. The company 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 company has a market cap of $12.65 billion, a price-to-earnings ratio of 24.71 and a beta of 1.50. 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 business has a 50 day simple moving average of $131.88 and a 200 day simple moving average of $125.26.

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 analysts’ expectations of $568.91 million. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.04 EPS. As a group, sell-side analysts anticipate that Lamar Advertising will post 7.52 EPS for the current year.

Lamar Advertising Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on LAMR shares. StockNews.com cut Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. TD Cowen raised their price objective 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. Morgan Stanley upped their target price on shares of Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Finally, Wells Fargo & Company cut their price target on shares of Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Lamar Advertising has an average 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.