AlphaQuest LLC Has $1.99 Million Stock Holdings in SBA Communications Corporation $SBAC

AlphaQuest LLC lifted its position in shares of SBA Communications Corporation (NASDAQ:SBAC) by 84.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 10,303 shares of the technology company’s stock after buying an additional 4,730 shares during the quarter. AlphaQuest LLC’s holdings in SBA Communications were worth $1,992,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Quent Capital LLC bought a new stake in SBA Communications during the 3rd quarter worth approximately $27,000. CVA Family Office LLC raised its stake in shares of SBA Communications by 106.3% during the second quarter. CVA Family Office LLC now owns 130 shares of the technology company’s stock valued at $31,000 after acquiring an additional 67 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of SBA Communications by 105.0% during the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after purchasing an additional 84 shares during the period. SJS Investment Consulting Inc. bought a new stake in shares of SBA Communications in the third quarter worth $48,000. Finally, IFP Advisors Inc grew its stake in shares of SBA Communications by 75.9% in the second quarter. IFP Advisors Inc now owns 234 shares of the technology company’s stock worth $55,000 after purchasing an additional 101 shares during the last quarter. Institutional investors own 97.35% of the company’s stock.

SBA Communications Price Performance

Shares of NASDAQ:SBAC opened at $184.11 on Friday. SBA Communications Corporation has a 1 year low of $179.89 and a 1 year high of $245.16. The business’s 50-day moving average is $189.84 and its 200-day moving average is $200.25. The company has a market capitalization of $19.62 billion, a price-to-earnings ratio of 24.00, a P/E/G ratio of 1.78 and a beta of 0.87.

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

SBA Communications Announces Dividend

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

Wall Street Analysts Forecast Growth

SBAC has been the subject of several analyst reports. Scotiabank lowered their target price on SBA Communications from $252.00 to $233.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 14th. Morgan Stanley decreased their price target on SBA Communications from $260.00 to $220.00 and set an “equal weight” rating for the company in a research note on Thursday, October 16th. TD Cowen restated a “buy” rating on shares of SBA Communications in a research report on Tuesday, November 4th. Williams Trading set a $237.00 price objective on SBA Communications in a research note on Tuesday, November 4th. Finally, JPMorgan Chase & Co. decreased their target price on shares of SBA Communications from $245.00 to $240.00 and set a “neutral” rating for the company in a research report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, SBA Communications presently has a consensus rating of “Moderate Buy” and an average target price of $235.18.

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.