Atlas Capital Advisors LLC purchased a new stake in shares of SBA Communications Co. (NASDAQ:SBAC) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 149 shares of the technology company’s stock, valued at approximately $36,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Usca Ria LLC acquired a new stake in shares of SBA Communications during the third quarter valued at about $25,000. Advisory Services Network LLC increased its position in shares of SBA Communications by 65.4% during the second quarter. Advisory Services Network LLC now owns 129 shares of the technology company’s stock valued at $29,000 after acquiring an additional 51 shares during the last quarter. Redhawk Wealth Advisors Inc. acquired a new stake in shares of SBA Communications during the second quarter valued at about $29,000. Certified Advisory Corp acquired a new stake in shares of SBA Communications during the second quarter valued at about $31,000. Finally, Berman Capital Advisors LLC increased its position in shares of SBA Communications by 103.9% during the second quarter. Berman Capital Advisors LLC now owns 155 shares of the technology company’s stock valued at $34,000 after acquiring an additional 79 shares during the last quarter. Institutional investors and hedge funds own 93.23% of the company’s stock.
Shares of SBAC stock opened at $228.46 on Friday. The stock has a market capitalization of $25.87 billion, a P/E ratio of 30.06, a price-to-earnings-growth ratio of 2.93 and a beta of 0.65. The company has a 50 day moving average price of $240.91 and a 200 day moving average price of $234.10. SBA Communications Co. has a fifty-two week low of $155.19 and a fifty-two week high of $270.42.
SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, October 28th. The technology company reported $0.19 EPS for the quarter, missing the consensus estimate of $1.97 by ($1.78). SBA Communications had a negative return on equity of 4.16% and a net margin of 6.89%. The firm had revenue of $486.60 million for the quarter, compared to analyst estimates of $497.48 million. During the same quarter last year, the firm earned $1.92 EPS. The company’s revenue was up 11.8% on a year-over-year basis. Equities analysts forecast that SBA Communications Co. will post 7.81 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Wednesday, November 20th. SBA Communications’s dividend payout ratio (DPR) is presently 19.47%.
In other SBA Communications news, EVP Kurt L. Bagwell sold 17,055 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $254.72, for a total transaction of $4,344,249.60. Following the completion of the transaction, the executive vice president now owns 57,573 shares in the company, valued at approximately $14,664,994.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brendan Thomas Cavanagh sold 54,411 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $268.07, for a total transaction of $14,585,956.77. Following the transaction, the chief financial officer now owns 98,751 shares of the company’s stock, valued at approximately $26,472,180.57. The disclosure for this sale can be found here. Insiders have sold a total of 99,529 shares of company stock valued at $26,257,774 in the last quarter. 2.50% of the stock is currently owned by company insiders.
SBAC has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of SBA Communications from a “sell” rating to a “hold” rating and set a $253.00 price target for the company in a research report on Saturday, November 2nd. SunTrust Banks lifted their price objective on shares of SBA Communications to $255.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. KeyCorp lifted their price objective on shares of SBA Communications from $259.00 to $292.00 and gave the company an “overweight” rating in a report on Monday, August 19th. Cowen lifted their price objective on shares of SBA Communications from $203.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. cut shares of SBA Communications from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $220.00 to $270.00 in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. SBA Communications currently has an average rating of “Hold” and an average price target of $248.73.
About SBA Communications
SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America. By Building Better Wireless, SBA generates revenue from two primary businesses – site leasing and site development services. The primary focus of the Company is the leasing of antenna space on its multi-tenant communication sites to a variety of wireless service providers under long-term lease contracts.
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