Inscription Capital LLC Raises Stake in SBA Communications Corporation $SBAC

Inscription Capital LLC boosted its position in shares of SBA Communications Corporation (NASDAQ:SBAC) by 208.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,897 shares of the technology company’s stock after acquiring an additional 3,310 shares during the period. Inscription Capital LLC’s holdings in SBA Communications were worth $947,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Janney Montgomery Scott LLC grew its stake in shares of SBA Communications by 0.8% during the second quarter. Janney Montgomery Scott LLC now owns 6,130 shares of the technology company’s stock worth $1,440,000 after purchasing an additional 46 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of SBA Communications by 20.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 300 shares of the technology company’s stock worth $70,000 after acquiring an additional 50 shares in the last quarter. MAI Capital Management boosted its position in shares of SBA Communications by 7.9% during the 2nd quarter. MAI Capital Management now owns 680 shares of the technology company’s stock worth $160,000 after acquiring an additional 50 shares in the last quarter. Penserra Capital Management LLC raised its position in shares of SBA Communications by 12.5% during the 2nd quarter. Penserra Capital Management LLC now owns 587 shares of the technology company’s stock worth $137,000 after acquiring an additional 65 shares in the last quarter. Finally, CVA Family Office LLC lifted its stake in SBA Communications by 106.3% during the second quarter. CVA Family Office LLC now owns 130 shares of the technology company’s stock worth $31,000 after purchasing an additional 67 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Price Performance

Shares of NASDAQ SBAC opened at $185.88 on Wednesday. The stock has a fifty day moving average price of $191.51 and a 200 day moving average price of $202.42. SBA Communications Corporation has a 1-year low of $179.89 and a 1-year high of $245.16. The company has a market cap of $19.81 billion, a PE ratio of 24.23, a P/E/G ratio of 1.71 and a beta of 0.87.

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

SBA Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Thursday, November 13th were issued a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Thursday, November 13th. SBA Communications’s payout ratio is currently 57.89%.

Analysts Set New Price Targets

SBAC has been the topic of several recent analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of SBA Communications in a research note on Friday, January 9th. Royal Bank Of Canada dropped their target price on shares of SBA Communications from $235.00 to $232.00 and set an “outperform” rating on the stock in a research report on Monday, November 10th. Barclays cut their price target on SBA Communications from $219.00 to $212.00 and set an “overweight” rating on the stock in a research report on Monday, December 1st. Citigroup reduced their price target on shares of SBA Communications from $265.00 to $235.00 and set a “buy” rating for the company in a research report on Thursday, October 16th. Finally, Williams Trading set a $237.00 price objective on shares of SBA Communications in a research report on Tuesday, November 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $235.18.

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.