Wellington Management Group LLP Raises Stock Position in SBA Communications Co. (NASDAQ:SBAC)

Wellington Management Group LLP boosted its position in shares of SBA Communications Co. (NASDAQ:SBACFree Report) by 1.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,337 shares of the technology company’s stock after purchasing an additional 493 shares during the period. Wellington Management Group LLP’s holdings in SBA Communications were worth $6,473,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SBAC. Carolinas Wealth Consulting LLC raised 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 worth $30,000 after purchasing an additional 62 shares during the period. Emerald Advisers LLC purchased a new stake in shares of SBA Communications in the 3rd quarter valued at approximately $31,000. Resurgent Financial Advisors LLC purchased a new stake in shares of SBA Communications in the 4th quarter valued at approximately $31,000. Ancora Advisors LLC raised its stake in shares of SBA Communications by 88.6% in the 1st quarter. Ancora Advisors LLC now owns 132 shares of the technology company’s stock valued at $37,000 after acquiring an additional 62 shares during the period. Finally, Covestor Ltd raised its stake in shares of SBA Communications by 218.6% in the 2nd quarter. Covestor Ltd now owns 188 shares of the technology company’s stock valued at $44,000 after acquiring an additional 129 shares during the period. 97.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on SBAC shares. KeyCorp increased their price objective on shares of SBA Communications from $251.00 to $276.00 and gave the company an “overweight” rating in a research report on Wednesday, December 6th. Barclays dropped their target price on shares of SBA Communications from $265.00 to $260.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 5th. Bank of America raised shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 target price on the stock in a research report on Thursday, March 7th. Finally, BMO Capital Markets dropped their target price on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 27th. One research analyst has rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $271.50.

Get Our Latest Research Report on SBA Communications

SBA Communications Stock Up 1.4 %

Shares of SBAC stock opened at $218.38 on Tuesday. The stock has a market cap of $23.61 billion, a price-to-earnings ratio of 47.37, a price-to-earnings-growth ratio of 1.32 and a beta of 0.56. SBA Communications Co. has a fifty-two week low of $185.23 and a fifty-two week high of $267.42. The firm’s 50 day moving average price is $218.63 and its two-hundred day moving average price is $222.49.

SBA Communications (NASDAQ:SBACGet Free Report) last announced its quarterly earnings results on Monday, February 26th. The technology company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.36). SBA Communications had a net margin of 18.51% and a negative return on equity of 9.70%. The business had revenue of $675.00 million for the quarter, compared to analyst estimates of $682.11 million. During the same period last year, the firm earned $3.11 earnings per share. The company’s quarterly revenue was down 1.6% on a year-over-year basis. On average, equities analysts forecast that SBA Communications Co. will post 12.6 EPS for the current fiscal year.

SBA Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th will be paid a dividend of $0.98 per share. This is a positive change from SBA Communications’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Wednesday, March 13th. This represents a $3.92 annualized dividend and a yield of 1.80%. SBA Communications’s payout ratio is presently 85.03%.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, Director Mary S. Chan sold 1,977 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total transaction of $430,966.23. Following the completion of the sale, the director now owns 4,622 shares in the company, valued at $1,007,549.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.60% of the stock is owned by insiders.

About SBA Communications

(Free Report)

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 throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.

Further Reading

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

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