Boothbay Fund Management LLC Boosts Holdings in SBA Communications Corporation $SBAC

Boothbay Fund Management LLC boosted its holdings in SBA Communications Corporation (NASDAQ:SBAC) by 22.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 129,055 shares of the technology company’s stock after purchasing an additional 23,287 shares during the quarter. SBA Communications makes up approximately 0.4% of Boothbay Fund Management LLC’s holdings, making the stock its 12th biggest position. Boothbay Fund Management LLC’s holdings in SBA Communications were worth $24,953,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Quent Capital LLC bought a new stake in shares of SBA Communications during the third quarter valued at approximately $27,000. Geneos Wealth Management Inc. lifted its holdings in shares of SBA Communications by 105.0% in the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after buying an additional 84 shares in the last quarter. SJS Investment Consulting Inc. bought a new position in shares of SBA Communications during the third quarter worth $48,000. Center for Financial Planning Inc. bought a new position in shares of SBA Communications during the third quarter worth $50,000. Finally, Avalon Trust Co purchased a new position in SBA Communications during the third quarter valued at $58,000. 97.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on SBAC. Barclays reduced their price target on shares of SBA Communications from $219.00 to $212.00 and set an “overweight” rating on the stock in a report on Monday, December 1st. Weiss Ratings restated a “hold (c-)” rating on shares of SBA Communications in a research report on Friday, January 9th. Royal Bank Of Canada lifted their target price on SBA Communications from $215.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, March 2nd. Wells Fargo & Company decreased their target price on SBA Communications from $205.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Friday, February 27th. Finally, UBS Group dropped their price target on SBA Communications from $275.00 to $260.00 and set a “buy” rating for the company in a research note on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $232.17.

SBA Communications Stock Up 1.8%

SBAC stock opened at $188.04 on Friday. SBA Communications Corporation has a 52 week low of $177.49 and a 52 week high of $245.16. The company has a fifty day simple moving average of $190.82 and a two-hundred day simple moving average of $193.27. The firm has a market capitalization of $20.04 billion, a P/E ratio of 19.73, a price-to-earnings-growth ratio of 1.86 and a beta of 0.86.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Thursday, February 26th. The technology company reported $3.47 earnings per share for the quarter, topping analysts’ consensus estimates of $3.25 by $0.22. The firm had revenue of $719.58 million for 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 business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $3.47 EPS. As a group, analysts anticipate that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be given a $1.25 dividend. This is an increase from SBA Communications’s previous quarterly dividend of $1.11. This represents a $5.00 annualized dividend and a yield of 2.7%. The ex-dividend date is Friday, March 13th. SBA Communications’s dividend payout ratio (DPR) is 46.59%.

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.