OMNI 360 Wealth Inc. Invests $648,000 in SBA Communications Corporation $SBAC

OMNI 360 Wealth Inc. acquired a new stake in shares of SBA Communications Corporation (NASDAQ:SBAC) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,349 shares of the technology company’s stock, valued at approximately $648,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Alpine Woods Capital Investors LLC bought a new stake in shares of SBA Communications during the third quarter valued at approximately $4,950,000. Swedbank AB boosted its stake in SBA Communications by 0.3% during the third quarter. Swedbank AB now owns 88,062 shares of the technology company’s stock worth $17,027,000 after buying an additional 248 shares in the last quarter. Vontobel Holding Ltd. increased its holdings in SBA Communications by 54.7% in the 3rd quarter. Vontobel Holding Ltd. now owns 2,982 shares of the technology company’s stock valued at $577,000 after buying an additional 1,054 shares during the period. IFM Investors Pty Ltd raised its stake in shares of SBA Communications by 1.9% in the 3rd quarter. IFM Investors Pty Ltd now owns 27,346 shares of the technology company’s stock valued at $5,311,000 after buying an additional 519 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of SBA Communications by 51.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 455 shares of the technology company’s stock worth $88,000 after acquiring an additional 155 shares during the period. 97.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SBAC. Weiss Ratings reissued a “hold (c-)” rating on shares of SBA Communications in a research note on Tuesday, October 14th. TD Cowen lowered their price objective on SBA Communications from $249.00 to $237.00 and set a “buy” rating on the stock in a research note on Tuesday, November 4th. Barclays cut their target price on SBA Communications from $219.00 to $212.00 and set an “overweight” rating for the company in a research report on Monday, December 1st. Morgan Stanley cut their price objective on SBA Communications from $260.00 to $220.00 and set an “equal weight” rating for the company in a report on Thursday, October 16th. Finally, Wells Fargo & Company decreased their price objective on SBA Communications from $215.00 to $205.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 16th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $237.00.

SBA Communications Trading Up 0.6%

NASDAQ SBAC opened at $194.76 on Wednesday. SBA Communications Corporation has a 12 month low of $185.13 and a 12 month high of $245.16. The company has a market capitalization of $20.75 billion, a PE ratio of 25.39, a P/E/G ratio of 1.68 and a beta of 0.87. The stock has a 50-day simple moving average of $193.57 and a 200 day simple moving average of $207.05.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results on Monday, November 3rd. The technology company reported $3.30 earnings per share for the quarter, beating analysts’ consensus estimates of $3.21 by $0.09. SBA Communications had a net margin of 29.69% and a negative return on equity of 16.60%. The business had revenue of $732.33 million for the quarter, compared to the consensus estimate of $715.65 million. During the same period last year, the company posted $3.32 EPS. SBA Communications’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, sell-side analysts predict that SBA Communications Corporation will post 12.57 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Thursday, November 13th were paid a $1.11 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $4.44 dividend on an annualized basis and a yield of 2.3%. SBA Communications’s payout ratio is presently 57.89%.

SBA Communications Profile

SBA Communications Corporation (NASDAQ: SBAC) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its core business is the leasing of space on communications towers, rooftop sites and other wireless structures to mobile network operators, broadband providers and other wireless service customers. The company also provides site development, construction and ongoing site management services to support the deployment and operation of wireless networks.

In addition to traditional macro towers, SBA offers a range of infrastructure solutions designed for dense urban and suburban markets, including small cells, distributed antenna systems (DAS) and fiber backhaul and transport services.