ProShare Advisors LLC boosted its holdings in shares of SBA Communications Co. (NASDAQ:SBAC – Free Report) by 16.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 31,158 shares of the technology company’s stock after buying an additional 4,451 shares during the period. ProShare Advisors LLC’s holdings in SBA Communications were worth $8,134,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Carolinas Wealth Consulting LLC boosted its stake in SBA Communications by 248.0% during the first quarter. Carolinas Wealth Consulting LLC now owns 87 shares of the technology company’s stock valued at $30,000 after buying an additional 62 shares during the period. Ruedi Wealth Management Inc. bought a new stake in SBA Communications during the fourth quarter valued at $27,000. Massmutual Trust Co. FSB ADV boosted its stake in SBA Communications by 127.7% during the first quarter. Massmutual Trust Co. FSB ADV now owns 107 shares of the technology company’s stock valued at $28,000 after buying an additional 60 shares during the period. Resurgent Financial Advisors LLC bought a new stake in SBA Communications during the fourth quarter valued at $31,000. Finally, Ancora Advisors LLC boosted its stake in SBA Communications by 88.6% during the first quarter. Ancora Advisors LLC now owns 132 shares of the technology company’s stock valued at $37,000 after buying an additional 62 shares during the period. Institutional investors own 92.48% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on SBAC shares. Raymond James dropped their price target on SBA Communications from $297.00 to $285.00 and set a “strong-buy” rating for the company in a research note on Tuesday, August 22nd. Royal Bank of Canada dropped their price target on SBA Communications from $276.00 to $265.00 and set an “outperform” rating for the company in a research note on Monday, August 14th. TD Cowen dropped their price target on SBA Communications from $329.00 to $327.00 and set an “outperform” rating for the company in a research note on Tuesday, August 1st. BMO Capital Markets dropped their price target on SBA Communications from $260.00 to $250.00 and set a “market perform” rating for the company in a research note on Tuesday, August 1st. Finally, UBS Group dropped their price target on SBA Communications from $335.00 to $315.00 and set a “buy” rating for the company in a research note on Tuesday, August 1st. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, SBA Communications has a consensus rating of “Moderate Buy” and an average target price of $301.22.
SBA Communications Stock Down 0.3 %
Shares of SBAC opened at $218.15 on Friday. The business’s 50 day moving average price is $224.80 and its 200-day moving average price is $236.29. SBA Communications Co. has a 52 week low of $210.93 and a 52 week high of $312.97. The stock has a market cap of $23.64 billion, a P/E ratio of 46.91 and a beta of 0.51.
SBA Communications (NASDAQ:SBAC – Get Free Report) last issued its quarterly earnings results on Monday, July 31st. The technology company reported $1.87 EPS for the quarter, missing analysts’ consensus estimates of $2.91 by ($1.04). SBA Communications had a negative return on equity of 9.68% and a net margin of 18.71%. The company had revenue of $678.50 million during the quarter, compared to the consensus estimate of $676.87 million. During the same period in the prior year, the firm earned $3.07 earnings per share. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, equities analysts anticipate that SBA Communications Co. will post 12.15 EPS for the current year.
SBA Communications Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Thursday, August 24th will be given a $0.85 dividend. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $3.40 annualized dividend and a yield of 1.56%. SBA Communications’s dividend payout ratio (DPR) is presently 73.12%.
Insider Activity at SBA Communications
In related news, Director George R. Krouse, Jr. sold 371 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $229.30, for a total value of $85,070.30. Following the transaction, the director now directly owns 8,501 shares of the company’s stock, valued at approximately $1,949,279.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.60% of the stock is currently owned by insiders.
About SBA Communications
SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites in 16 markets throughout the Americas, Africa and the Philippines, SBA is listed on NASDAQ under the symbol SBAC.
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