Lamar Advertising (NASDAQ:LAMR) Shares Sold by Raleigh Capital Management Inc.

Raleigh Capital Management Inc. trimmed its stake in shares of Lamar Advertising (NASDAQ:LAMR) by 2.9% during the fourth quarter, Holdings Channel reports. The firm owned 2,821 shares of the real estate investment trust’s stock after selling 84 shares during the period. Raleigh Capital Management Inc.’s holdings in Lamar Advertising were worth $343,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Janney Montgomery Scott LLC acquired a new stake in shares of Lamar Advertising during the 4th quarter worth approximately $5,639,000. Segment Wealth Management LLC grew its holdings in Lamar Advertising by 4.8% in the 4th quarter. Segment Wealth Management LLC now owns 3,043 shares of the real estate investment trust’s stock worth $370,000 after buying an additional 140 shares in the last quarter. UMB Bank n.a. grew its holdings in Lamar Advertising by 14.7% in the 4th quarter. UMB Bank n.a. now owns 701 shares of the real estate investment trust’s stock worth $85,000 after buying an additional 90 shares in the last quarter. Ellsworth Advisors LLC grew its holdings in Lamar Advertising by 10.2% in the 4th quarter. Ellsworth Advisors LLC now owns 13,974 shares of the real estate investment trust’s stock worth $1,701,000 after buying an additional 1,296 shares in the last quarter. Finally, HB Wealth Management LLC bought a new position in Lamar Advertising in the 4th quarter worth approximately $414,000. 93.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on LAMR shares. StockNews.com lowered Lamar Advertising from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Wells Fargo & Company reduced their price objective on Lamar Advertising from $132.00 to $124.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. TD Cowen raised their price objective on Lamar Advertising from $142.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, Morgan Stanley raised their price objective on Lamar Advertising from $125.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $132.40.

Lamar Advertising Price Performance

Shares of NASDAQ:LAMR opened at $126.10 on Thursday. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 2.48. Lamar Advertising has a 1 year low of $102.10 and a 1 year high of $139.88. The business has a fifty day simple moving average of $126.19 and a 200 day simple moving average of $126.15. The firm has a market cap of $12.91 billion, a price-to-earnings ratio of 25.22 and a beta of 1.50.

Lamar Advertising (NASDAQ:LAMR) last posted its earnings results on Friday, November 8th. The real estate investment trust reported $1.44 EPS for the quarter, missing the consensus estimate of $2.17 by ($0.73). The business had revenue of $564.10 million for the quarter, compared to analyst estimates of $568.91 million. Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.04 earnings per share. As a group, sell-side analysts predict that Lamar Advertising will post 7.49 earnings per share for the current fiscal year.

Lamar Advertising Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 30th. Shareholders of record on Wednesday, December 18th were paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date of this dividend was Wednesday, December 18th. Lamar Advertising’s dividend payout ratio is 112.00%.

About Lamar Advertising

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.