SBA Communications Co. (NASDAQ:SBAC) Shares Bought by Private Advisor Group LLC

Private Advisor Group LLC grew its position in SBA Communications Co. (NASDAQ:SBACFree Report) by 5.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,570 shares of the technology company’s stock after acquiring an additional 88 shares during the quarter. Private Advisor Group LLC’s holdings in SBA Communications were worth $398,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SBAC. CVA Family Office LLC purchased a new stake in shares of SBA Communications in the fourth quarter valued at approximately $37,000. Pinnacle Bancorp Inc. lifted its holdings in SBA Communications by 73.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock valued at $40,000 after acquiring an additional 67 shares during the last quarter. Allworth Financial LP lifted its stake in shares of SBA Communications by 37.8% in the 4th quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock valued at $42,000 after purchasing an additional 45 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of SBA Communications during the 4th quarter worth about $43,000. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its holdings in SBA Communications by 67.9% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 225 shares of the technology company’s stock valued at $57,000 after buying an additional 91 shares during the period. Institutional investors and hedge funds own 97.35% of the company’s stock.

Wall Street Analysts Forecast Growth

SBAC has been the subject of a number of recent analyst reports. KeyCorp dropped their price target on shares of SBA Communications from $276.00 to $227.00 and set an “overweight” rating for the company in a research report on Tuesday, April 30th. BMO Capital Markets dropped their target price on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a report on Tuesday, February 27th. TD Cowen decreased their price target on SBA Communications from $266.00 to $253.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Royal Bank of Canada dropped their price objective on SBA Communications from $250.00 to $235.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. Finally, Citigroup decreased their target price on SBA Communications from $290.00 to $260.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Eleven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, SBA Communications has an average rating of “Buy” and a consensus target price of $252.25.

Read Our Latest Stock Analysis on SBA Communications

Insider Activity at SBA Communications

In related news, Director Mary S. Chan sold 1,977 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total value of $430,966.23. Following the completion of the sale, the director now directly owns 4,622 shares of the company’s stock, valued at $1,007,549.78. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.30% of the company’s stock.

SBA Communications Stock Down 0.0 %

Shares of SBA Communications stock opened at $198.37 on Wednesday. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $258.76. The company has a market capitalization of $21.31 billion, a P/E ratio of 38.90, a P/E/G ratio of 0.59 and a beta of 0.59. The company has a 50 day moving average of $204.75 and a 200 day moving average of $222.15.

SBA Communications (NASDAQ:SBACGet Free Report) last released its quarterly earnings data on Monday, April 29th. The technology company reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.21. The business had revenue of $657.86 million for the quarter, compared to the consensus estimate of $671.08 million. SBA Communications had a negative return on equity of 10.75% and a net margin of 20.61%. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.13 EPS. As a group, research analysts anticipate that SBA Communications Co. will post 12.53 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Thursday, May 23rd will be issued a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Wednesday, May 22nd. SBA Communications’s payout ratio is 76.86%.

About SBA Communications

(Free Report)

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.

Further Reading

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Institutional Ownership by Quarter for SBA Communications (NASDAQ:SBAC)

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