Alpine Woods Capital Investors LLC Takes Position in SBA Communications Corporation $SBAC

Alpine Woods Capital Investors LLC bought a new position in SBA Communications Corporation (NASDAQ:SBAC) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 25,602 shares of the technology company’s stock, valued at approximately $4,950,000. SBA Communications comprises approximately 1.2% of Alpine Woods Capital Investors LLC’s investment portfolio, making the stock its 26th biggest position.

A number of other hedge funds have also added to or reduced their stakes in the stock. CVA Family Office LLC boosted its stake in shares of SBA Communications by 106.3% in the 2nd quarter. CVA Family Office LLC now owns 130 shares of the technology company’s stock worth $31,000 after buying an additional 67 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of SBA Communications by 105.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after purchasing an additional 84 shares during the period. IFP Advisors Inc increased its holdings in SBA Communications by 75.9% during the second quarter. IFP Advisors Inc now owns 234 shares of the technology company’s stock valued at $55,000 after buying an additional 101 shares during the last quarter. Allworth Financial LP boosted its stake in shares of SBA Communications by 67.9% during the 2nd quarter. Allworth Financial LP now owns 272 shares of the technology company’s stock worth $64,000 after acquiring an additional 110 shares during the last quarter. Finally, CYBER HORNET ETFs LLC bought a new stake in shares of SBA Communications during the 2nd quarter valued at $65,000. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on SBAC shares. Royal Bank Of Canada lowered their target price on SBA Communications from $235.00 to $232.00 and set an “outperform” rating on the stock in a research report on Monday, November 10th. Williams Trading set a $237.00 price objective on SBA Communications in a research note on Tuesday, November 4th. Citigroup reduced their target price on shares of SBA Communications from $265.00 to $235.00 and set a “buy” rating for the company in a report on Thursday, October 16th. Morgan Stanley decreased their target price on shares of SBA Communications from $260.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 16th. Finally, Barclays dropped their price target on shares of SBA Communications from $219.00 to $212.00 and set an “overweight” rating for the company in a research report on Monday, December 1st. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $237.00.

SBA Communications Price Performance

NASDAQ SBAC opened at $192.55 on Thursday. SBA Communications Corporation has a 1-year low of $185.13 and a 1-year high of $245.16. The business has a 50 day simple moving average of $193.88 and a two-hundred day simple moving average of $208.11. The stock has a market capitalization of $20.52 billion, a PE ratio of 25.10, a P/E/G ratio of 1.66 and a beta of 0.87.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, November 3rd. The technology company reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.21 by $0.09. The business had revenue of $732.33 million during the quarter, compared to analysts’ expectations of $715.65 million. SBA Communications had a net margin of 29.69% and a negative return on equity of 16.60%. The business’s revenue was up 9.7% on a year-over-year basis. During the same period last year, the company posted $3.32 EPS. On average, analysts anticipate that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Thursday, November 13th were issued a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a yield of 2.3%. The ex-dividend date was Thursday, November 13th. SBA Communications’s dividend payout ratio is presently 57.89%.

SBA Communications Company Profile

SBA Communications Corporation (NASDAQ: SBAC) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its core business is the leasing of space on communications towers, rooftop sites and other wireless structures to mobile network operators, broadband providers and other wireless service customers. The company also provides site development, construction and ongoing site management services to support the deployment and operation of wireless networks.

In addition to traditional macro towers, SBA offers a range of infrastructure solutions designed for dense urban and suburban markets, including small cells, distributed antenna systems (DAS) and fiber backhaul and transport services.