Moody National Bank Trust Division bought a new stake in shares of SBA Communications Co. (NASDAQ:SBAC – Get Rating) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,095 shares of the technology company’s stock, valued at approximately $350,000.
Several other large investors also recently added to or reduced their stakes in SBAC. GHP Investment Advisors Inc. bought a new position in shares of SBA Communications in the first quarter worth approximately $25,000. Riverview Trust Co bought a new position in shares of SBA Communications in the first quarter worth approximately $26,000. Carolinas Wealth Consulting LLC lifted its holdings in shares of SBA Communications by 248.0% in the first quarter. Carolinas Wealth Consulting LLC now owns 87 shares of the technology company’s stock worth $30,000 after buying an additional 62 shares in the last quarter. Ancora Advisors LLC lifted its holdings in shares of SBA Communications by 88.6% in the first quarter. Ancora Advisors LLC now owns 132 shares of the technology company’s stock worth $37,000 after buying an additional 62 shares in the last quarter. Finally, Standard Family Office LLC lifted its holdings in shares of SBA Communications by 364.0% in the first quarter. Standard Family Office LLC now owns 116 shares of the technology company’s stock worth $40,000 after buying an additional 91 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on SBAC. Wells Fargo & Company lowered their target price on shares of SBA Communications from $390.00 to $355.00 and set an “overweight” rating on the stock in a report on Tuesday, July 19th. Morgan Stanley boosted their target price on shares of SBA Communications from $361.00 to $366.00 and gave the stock an “overweight” rating in a report on Friday. The Goldman Sachs Group lowered their target price on shares of SBA Communications from $424.00 to $381.00 and set a “buy” rating on the stock in a report on Tuesday, July 12th. Credit Suisse Group boosted their target price on shares of SBA Communications from $405.00 to $408.00 and gave the stock an “outperform” rating in a report on Tuesday, August 2nd. Finally, UBS Group upped their price target on shares of SBA Communications from $400.00 to $410.00 and gave the company a “buy” rating in a research note on Tuesday, August 2nd. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $384.67.
Insider Activity at SBA Communications
SBA Communications Stock Down 0.0 %
SBAC stock opened at $311.62 on Tuesday. SBA Communications Co. has a twelve month low of $286.41 and a twelve month high of $391.15. The stock has a market capitalization of $33.60 billion, a price-to-earnings ratio of 96.48 and a beta of 0.44. The firm’s fifty day simple moving average is $330.42 and its two-hundred day simple moving average is $332.99.
SBA Communications (NASDAQ:SBAC – Get Rating) last posted its quarterly earnings results on Monday, August 1st. The technology company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.26). The company had revenue of $652.01 million during the quarter, compared to analysts’ expectations of $626.30 million. SBA Communications had a negative return on equity of 6.73% and a net margin of 14.45%. The company’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the business earned $2.64 EPS. As a group, equities research analysts expect that SBA Communications Co. will post 11.2 EPS for the current year.
SBA Communications Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 20th. Investors of record on Thursday, August 25th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Wednesday, August 24th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.91%. SBA Communications’s payout ratio is 87.93%.
SBA Communications Profile
SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America and South Africa. By Building Better Wireless, SBA generates revenue from two primary businesses – site leasing and site development services.
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