NEOS Investment Management LLC Buys 4,202 Shares of SBA Communications Corporation $SBAC

NEOS Investment Management LLC raised its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 12.1% during the second quarter, HoldingsChannel reports. The firm owned 39,068 shares of the technology company’s stock after buying an additional 4,202 shares during the quarter. NEOS Investment Management LLC’s holdings in SBA Communications were worth $6,894,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. J. Safra Sarasin Holding AG raised its holdings in SBA Communications by 4.0% during the 1st quarter. J. Safra Sarasin Holding AG now owns 1,596 shares of the technology company’s stock valued at $275,000 after buying an additional 62 shares during the period. CX Institutional boosted its stake in SBA Communications by 44.2% during the second quarter. CX Institutional now owns 212 shares of the technology company’s stock worth $37,000 after buying an additional 65 shares during the period. Norinchukin Bank The boosted its stake in SBA Communications by 1.1% during the third quarter. Norinchukin Bank The now owns 6,037 shares of the technology company’s stock worth $1,167,000 after buying an additional 68 shares during the period. GAMMA Investing LLC increased its position in SBA Communications by 5.7% during the second quarter. GAMMA Investing LLC now owns 1,289 shares of the technology company’s stock valued at $227,000 after acquiring an additional 70 shares during the last quarter. Finally, Larson Financial Group LLC increased its position in SBA Communications by 47.6% during the fourth quarter. Larson Financial Group LLC now owns 248 shares of the technology company’s stock valued at $48,000 after acquiring an additional 80 shares during the last quarter. 97.35% of the stock is owned by institutional investors.

SBA Communications Price Performance

NASDAQ:SBAC opened at $189.44 on Friday. SBA Communications Corporation has a 1-year low of $162.41 and a 1-year high of $224.46. The company has a 50-day moving average of $183.19 and a 200 day moving average of $194.18. The firm has a market cap of $20.10 billion, a PE ratio of 20.41, a price-to-earnings-growth ratio of 1.89 and a beta of 0.99.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, August 3rd. The technology company reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.02. SBA Communications had a net margin of 34.51% and a negative return on equity of 20.67%. The business had revenue of $715.27 million for the quarter, compared to the consensus estimate of $706.01 million. During the same quarter last year, the firm posted $3.17 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. Sell-side analysts anticipate that SBA Communications Corporation will post 11.41 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Thursday, August 20th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $5.00 dividend on an annualized basis and a yield of 2.6%. SBA Communications’s payout ratio is 53.88%.

Wall Street Analyst Weigh In

SBAC has been the topic of several recent analyst reports. TD Cowen reissued a “buy” rating on shares of SBA Communications in a research note on Tuesday, August 4th. Royal Bank Of Canada dropped their price target on shares of SBA Communications from $245.00 to $210.00 and set an “outperform” rating for the company in a research note on Friday, July 10th. BMO Capital Markets reiterated a “market perform” rating on shares of SBA Communications in a report on Monday, August 24th. Morgan Stanley reduced their price objective on shares of SBA Communications from $225.00 to $215.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 4th. Finally, The Goldman Sachs Group assumed coverage on shares of SBA Communications in a research note on Friday, June 26th. They issued a “neutral” rating and a $205.00 price objective for the company. Seven equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, SBA Communications currently has an average rating of “Hold” and an average price target of $225.53.

Insiders Place Their Bets

In other SBA Communications news, Director George R. Krouse, Jr. sold 300 shares of the company’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $182.67, for a total transaction of $54,801.00. Following the completion of the sale, the director owned 8,512 shares in the company, valued at $1,554,887.04. This represents a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 9.50% of the stock is currently owned by corporate insiders.

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.