SBA Communications Co. (NASDAQ:SBAC) Shares Acquired by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. increased its stake in SBA Communications Co. (NASDAQ:SBAC) by 50.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,179 shares of the technology company’s stock after buying an additional 1,072 shares during the period. Atria Wealth Solutions Inc.’s holdings in SBA Communications were worth $807,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Allworth Financial LP lifted its position in shares of SBA Communications by 37.8% during the fourth quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock worth $42,000 after purchasing an additional 45 shares during the last quarter. Quaero Capital S.A. grew its stake in SBA Communications by 1.4% during the 4th quarter. Quaero Capital S.A. now owns 3,730 shares of the technology company’s stock worth $946,000 after buying an additional 50 shares during the last quarter. Marks Group Wealth Management Inc lifted its stake in SBA Communications by 4.4% in the fourth quarter. Marks Group Wealth Management Inc now owns 1,274 shares of the technology company’s stock valued at $323,000 after buying an additional 54 shares during the last quarter. Pinnacle Bancorp Inc. lifted its stake in SBA Communications by 73.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock valued at $40,000 after buying an additional 67 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of SBA Communications by 12.0% during the fourth quarter. UMB Bank n.a. now owns 674 shares of the technology company’s stock valued at $171,000 after acquiring an additional 72 shares during the period. 97.35% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SBAC has been the topic of several recent research reports. Barclays cut their price objective on shares of SBA Communications from $255.00 to $241.00 and set an “overweight” rating on the stock in a research report on Tuesday. BMO Capital Markets reduced their price objective on SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a research report on Tuesday, February 27th. KeyCorp lowered their target price on SBA Communications from $276.00 to $227.00 and set an “overweight” rating on the stock in a research report on Tuesday. Wells Fargo & Company reduced their price target on SBA Communications from $260.00 to $230.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, TD Cowen lowered their price target on SBA Communications from $266.00 to $253.00 and set a “buy” rating on the stock in a report on Tuesday. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $258.23.

SBA Communications Stock Down 0.4 %

NASDAQ:SBAC opened at $193.09 on Friday. The business’s 50-day moving average price is $208.78 and its 200 day moving average price is $222.32. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $258.76. The firm has a market cap of $20.87 billion, a P/E ratio of 37.86, a PEG ratio of 1.20 and a beta of 0.59.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings data on Monday, April 29th. The technology company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.21. SBA Communications had a net margin of 20.61% and a negative return on equity of 10.75%. The company had revenue of $657.86 million during the quarter, compared to analyst estimates of $671.08 million. During the same quarter last year, the firm posted $3.13 EPS. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. Sell-side analysts expect that SBA Communications Co. will post 12.56 EPS for the current year.

SBA Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Thursday, May 23rd will be issued a $0.98 dividend. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $3.92 annualized dividend and a dividend yield of 2.03%. SBA Communications’s dividend payout ratio is currently 76.86%.

Insider Activity

In other SBA Communications news, Director Mary S. Chan sold 1,977 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total value of $430,966.23. Following the completion of the transaction, the director now directly owns 4,622 shares in the company, valued at $1,007,549.78. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.30% of the company’s stock.

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