SBA Communications Corporation $SBAC Shares Sold by Moran Wealth Management LLC

Moran Wealth Management LLC lessened its stake in SBA Communications Corporation (NASDAQ:SBAC) by 58.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,609 shares of the technology company’s stock after selling 40,847 shares during the period. Moran Wealth Management LLC’s holdings in SBA Communications were worth $5,725,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. NorthCrest Asset Manangement LLC boosted its holdings in SBA Communications by 3.0% during the second quarter. NorthCrest Asset Manangement LLC now owns 1,535 shares of the technology company’s stock worth $359,000 after buying an additional 44 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of SBA Communications by 0.8% in the second quarter. Janney Montgomery Scott LLC now owns 6,130 shares of the technology company’s stock worth $1,440,000 after acquiring an additional 46 shares during the period. Advisors Asset Management Inc. grew its position in shares of SBA Communications by 5.6% during the 1st quarter. Advisors Asset Management Inc. now owns 880 shares of the technology company’s stock valued at $194,000 after acquiring an additional 47 shares during the period. Farther Finance Advisors LLC increased its stake in shares of SBA Communications by 20.0% in the 2nd quarter. Farther Finance Advisors LLC now owns 300 shares of the technology company’s stock valued at $70,000 after purchasing an additional 50 shares in the last quarter. Finally, MAI Capital Management raised its holdings in SBA Communications by 7.9% in the 2nd quarter. MAI Capital Management now owns 680 shares of the technology company’s stock worth $160,000 after purchasing an additional 50 shares during the period. 97.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Wells Fargo & Company dropped their price objective on SBA Communications from $215.00 to $205.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 16th. TD Cowen dropped their price target on shares of SBA Communications from $249.00 to $237.00 and set a “buy” rating on the stock in a research note on Tuesday, November 4th. BMO Capital Markets cut their price target on shares of SBA Communications from $215.00 to $210.00 and set a “market perform” rating for the company in a report on Tuesday, November 4th. Cowen reaffirmed a “buy” rating on shares of SBA Communications in a report on Tuesday, November 4th. Finally, Barclays dropped their target price on shares of SBA Communications from $219.00 to $212.00 and set an “overweight” rating on the stock in a research report on Monday, December 1st. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $237.00.

SBA Communications Stock Down 0.0%

Shares of SBAC opened at $181.36 on Friday. SBA Communications Corporation has a 52-week low of $180.11 and a 52-week high of $245.16. The stock has a market cap of $19.32 billion, a PE ratio of 23.65, a price-to-earnings-growth ratio of 1.58 and a beta of 0.87. The firm’s fifty day moving average is $192.69 and its two-hundred day moving average is $205.39.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, November 3rd. The technology company reported $3.30 earnings per share for the quarter, topping the consensus estimate 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 firm 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 firm posted $3.32 earnings per share. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, research analysts anticipate that SBA Communications Corporation will post 12.57 earnings per share for the current year.

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Thursday, November 13th were given a $1.11 dividend. The ex-dividend date was Thursday, November 13th. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.4%. SBA Communications’s dividend payout ratio is 57.89%.

SBA Communications Company 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.