Carret Asset Management LLC Acquires 180 Shares of Lamar Advertising (NASDAQ:LAMR)

Carret Asset Management LLC lifted its holdings in shares of Lamar Advertising (NASDAQ:LAMR) by 4.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,720 shares of the real estate investment trust’s stock after purchasing an additional 180 shares during the period. Carret Asset Management LLC’s holdings in Lamar Advertising were worth $502,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Cary Street Partners Investment Advisory LLC purchased a new stake in shares of Lamar Advertising in the third quarter worth approximately $30,000. Signaturefd LLC increased its position in shares of Lamar Advertising by 43.7% during the third quarter. Signaturefd LLC now owns 493 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 150 shares during the last quarter. Arlington Trust Co LLC bought a new position in Lamar Advertising during the fourth quarter valued at $57,000. Sunbelt Securities Inc. grew its holdings in Lamar Advertising by 249.0% during the third quarter. Sunbelt Securities Inc. now owns 705 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 503 shares during the period. Finally, CWM LLC grew its holdings in Lamar Advertising by 236.7% during the fourth quarter. CWM LLC now owns 1,256 shares of the real estate investment trust’s stock valued at $133,000 after purchasing an additional 883 shares during the period. Institutional investors own 93.78% of the company’s stock.

Lamar Advertising Price Performance

NASDAQ LAMR traded down $0.88 during trading hours on Thursday, reaching $113.18. 40,087 shares of the stock traded hands, compared to its average volume of 401,344. The stock has a 50 day simple moving average of $114.02 and a two-hundred day simple moving average of $104.20. Lamar Advertising has a 1 year low of $77.21 and a 1 year high of $121.99. The company has a debt-to-equity ratio of 2.55, a current ratio of 0.52 and a quick ratio of 0.52. The company has a market cap of $11.55 billion, a price-to-earnings ratio of 23.52 and a beta of 1.50.

Lamar Advertising (NASDAQ:LAMR) last released its quarterly earnings data on Friday, February 23rd. The real estate investment trust reported $1.46 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.49). The company had revenue of $555.91 million during the quarter, compared to analysts’ expectations of $549.84 million. Lamar Advertising had a return on equity of 41.88% and a net margin of 23.49%. During the same quarter in the prior year, the firm posted $1.91 EPS. On average, analysts predict that Lamar Advertising will post 7.54 EPS for the current fiscal year.

Lamar Advertising Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $1.30 per share. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.59%. Lamar Advertising’s dividend payout ratio is 107.22%.

Analyst Ratings Changes

A number of research firms have recently commented on LAMR. JPMorgan Chase & Co. raised their price target on Lamar Advertising from $92.00 to $109.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. StockNews.com raised Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Tuesday, March 5th. Finally, Morgan Stanley lifted their price objective on Lamar Advertising from $105.00 to $110.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th.

Insiders Place Their Bets

In other Lamar Advertising news, CFO Jay Lecoryelle Johnson sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $118.97, for a total transaction of $594,850.00. Following the transaction, the chief financial officer now owns 10,000 shares in the company, valued at approximately $1,189,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 14.98% of the company’s stock.

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.