AE Wealth Management LLC Has $240,000 Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

AE Wealth Management LLC grew its holdings in SBA Communications Co. (NASDAQ:SBACGet Rating) by 8.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 751 shares of the technology company’s stock after buying an additional 60 shares during the quarter. AE Wealth Management LLC’s holdings in SBA Communications were worth $240,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of SBA Communications by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 17,537,146 shares of the technology company’s stock valued at $6,034,531,000 after buying an additional 173,850 shares in the last quarter. State Street Corp raised its stake in shares of SBA Communications by 6.3% in the 1st quarter. State Street Corp now owns 5,150,667 shares of the technology company’s stock valued at $1,772,345,000 after buying an additional 307,233 shares in the last quarter. Cohen & Steers Inc. raised its stake in shares of SBA Communications by 4.8% in the 1st quarter. Cohen & Steers Inc. now owns 3,442,391 shares of the technology company’s stock valued at $1,184,473,000 after buying an additional 156,278 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of SBA Communications by 0.7% during the 1st quarter. Principal Financial Group Inc. now owns 2,885,595 shares of the technology company’s stock worth $992,933,000 after purchasing an additional 18,652 shares in the last quarter. Finally, Invesco Ltd. increased its position in shares of SBA Communications by 45.1% during the 1st quarter. Invesco Ltd. now owns 2,099,226 shares of the technology company’s stock worth $722,344,000 after purchasing an additional 652,954 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

SBA Communications Trading Up 0.6 %

Shares of NASDAQ SBAC opened at $278.76 on Wednesday. The firm has a market capitalization of $30.06 billion, a PE ratio of 75.14 and a beta of 0.46. SBA Communications Co. has a 1 year low of $236.20 and a 1 year high of $391.15. The firm’s 50-day moving average is $284.48 and its 200-day moving average is $314.31.

SBA Communications (NASDAQ:SBACGet Rating) last issued its earnings results on Monday, October 31st. The technology company reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.04). The business had revenue of $675.60 million during the quarter, compared to the consensus estimate of $651.42 million. SBA Communications had a net margin of 16.01% and a negative return on equity of 7.57%. The firm’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same period last year, the business posted $2.71 EPS. As a group, equities research analysts anticipate that SBA Communications Co. will post 11.34 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, November 17th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 1.02%. The ex-dividend date is Wednesday, November 16th. SBA Communications’s payout ratio is 76.55%.

Analyst Upgrades and Downgrades

SBAC has been the subject of a number of recent analyst reports. UBS Group dropped their target price on shares of SBA Communications to $365.00 in a research report on Friday, November 4th. Wells Fargo & Company dropped their target price on shares of SBA Communications from $355.00 to $325.00 and set an “overweight” rating for the company in a research report on Tuesday, October 18th. StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a research report on Tuesday, November 1st. KeyCorp dropped their target price on shares of SBA Communications from $389.00 to $335.00 and set an “overweight” rating for the company in a research report on Monday, October 3rd. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of SBA Communications from $385.00 to $323.00 and set a “buy” rating for the company in a research report on Friday, October 7th. Two equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $340.07.

Insider Buying and Selling

In related news, EVP Mark R. Ciarfella sold 8,213 shares of SBA Communications stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $355.50, for a total transaction of $2,919,721.50. Following the transaction, the executive vice president now owns 23,884 shares of the company’s stock, valued at approximately $8,490,762. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.80% of the stock is owned by insiders.

About SBA Communications

(Get Rating)

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.

See Also

Institutional Ownership by Quarter for SBA Communications (NASDAQ:SBAC)

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