Mirabella Financial Services LLP Invests $1.47 Million in SBA Communications Corporation $SBAC

Mirabella Financial Services LLP acquired a new position in SBA Communications Corporation (NASDAQ:SBAC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 7,600 shares of the technology company’s stock, valued at approximately $1,469,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quent Capital LLC bought a new position in SBA Communications during the 3rd quarter worth $27,000. Geneos Wealth Management Inc. grew its position in shares of SBA Communications by 105.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after buying an additional 84 shares during the last quarter. Fulcrum Asset Management LLP bought a new stake in shares of SBA Communications in the 3rd quarter valued at about $32,000. Stance Capital LLC acquired a new stake in shares of SBA Communications in the third quarter valued at about $45,000. Finally, SJS Investment Consulting Inc. acquired a new stake in shares of SBA Communications in the third quarter valued at about $48,000. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Stock Performance

Shares of SBAC opened at $182.28 on Friday. The firm has a market cap of $19.42 billion, a PE ratio of 19.13, a price-to-earnings-growth ratio of 1.81 and a beta of 0.86. SBA Communications Corporation has a 52-week low of $177.49 and a 52-week high of $245.16. The business’s 50 day moving average price is $190.80 and its two-hundred day moving average price is $192.77.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Thursday, February 26th. The technology company reported $3.47 EPS for the quarter, topping the consensus estimate of $3.25 by $0.22. The company had revenue of $719.58 million during the quarter, compared to the consensus estimate of $725.80 million. SBA Communications had a net margin of 36.40% and a negative return on equity of 20.81%. The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $3.47 EPS. Research analysts predict that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be issued a $1.25 dividend. The ex-dividend date is Friday, March 13th. This is a positive change from SBA Communications’s previous quarterly dividend of $1.11. This represents a $5.00 dividend on an annualized basis and a yield of 2.7%. SBA Communications’s dividend payout ratio is 52.47%.

Analyst Upgrades and Downgrades

SBAC has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered their price objective on SBA Communications from $245.00 to $240.00 and set a “neutral” rating for the company in a research report on Monday, January 12th. Weiss Ratings reissued a “hold (c-)” rating on shares of SBA Communications in a research report on Friday, January 9th. Scotiabank lowered their price target on shares of SBA Communications from $233.00 to $223.00 and set a “sector perform” rating for the company in a report on Monday, March 2nd. Royal Bank Of Canada boosted their price target on shares of SBA Communications from $215.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, March 2nd. Finally, UBS Group reduced their price objective on shares of SBA Communications from $275.00 to $260.00 and set a “buy” rating on the stock in a research note on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $232.17.

About SBA Communications

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.