Carret Asset Management LLC Has $502,000 Stock Position in Lamar Advertising (NASDAQ:LAMR)

Carret Asset Management LLC increased its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 4.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 4,720 shares of the real estate investment trust’s stock after buying 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.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. AE Wealth Management LLC bought a new stake in Lamar Advertising during the 3rd quarter worth about $393,000. Boston Trust Walden Corp increased its stake in shares of Lamar Advertising by 0.5% in the 3rd quarter. Boston Trust Walden Corp now owns 389,115 shares of the real estate investment trust’s stock valued at $32,479,000 after acquiring an additional 2,059 shares during the last quarter. Simplicity Solutions LLC increased its stake in shares of Lamar Advertising by 3.3% in the 3rd quarter. Simplicity Solutions LLC now owns 28,285 shares of the real estate investment trust’s stock valued at $2,361,000 after acquiring an additional 900 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its stake in shares of Lamar Advertising by 18.2% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 6,856 shares of the real estate investment trust’s stock valued at $572,000 after acquiring an additional 1,058 shares during the last quarter. Finally, Connecticut Wealth Management LLC bought a new stake in shares of Lamar Advertising in the 3rd quarter valued at about $320,000. Institutional investors and hedge funds own 93.78% of the company’s stock.

Wall Street Analyst Weigh In

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

Lamar Advertising Price Performance

Shares of NASDAQ LAMR traded down $0.88 during mid-day trading on Thursday, reaching $113.18. The company had a trading volume of 40,087 shares, compared to its average volume of 401,344. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.52 and a current ratio of 0.52. Lamar Advertising has a one year low of $77.21 and a one year high of $121.99. The firm has a market cap of $11.55 billion, a price-to-earnings ratio of 23.52 and a beta of 1.50. The business’s 50-day simple moving average is $114.02 and its 200 day simple moving average is $104.20.

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

Lamar Advertising Increases Dividend

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

Insiders Place Their Bets

In other news, CFO Jay Lecoryelle Johnson sold 5,000 shares of the business’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 completion of the sale, the chief financial officer now owns 10,000 shares in the company, valued at $1,189,700. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 14.98% of the stock is currently owned by corporate insiders.

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.