Exchange Traded Concepts LLC Has $3.10 Million Stake in SBA Communications Corporation $SBAC

Exchange Traded Concepts LLC lifted its stake in SBA Communications Corporation (NASDAQ:SBAC) by 157.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,008 shares of the technology company’s stock after purchasing an additional 9,802 shares during the quarter. Exchange Traded Concepts LLC’s holdings in SBA Communications were worth $3,096,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in SBAC. Elevation Wealth Partners LLC grew its position in SBA Communications by 523.8% during the fourth quarter. Elevation Wealth Partners LLC now owns 131 shares of the technology company’s stock valued at $25,000 after purchasing an additional 110 shares in the last quarter. Quent Capital LLC purchased a new stake in SBA Communications in the 3rd quarter worth approximately $27,000. Fulcrum Asset Management LLP acquired a new stake in shares of SBA Communications during the 3rd quarter valued at $32,000. Geneos Wealth Management Inc. boosted its stake in shares of SBA Communications by 105.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after buying an additional 84 shares during the period. Finally, Stance Capital LLC purchased a new position in shares of SBA Communications during the 3rd quarter valued at $45,000. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Trading Up 1.3%

Shares of SBA Communications stock opened at $172.11 on Wednesday. The firm has a fifty day simple moving average of $187.62 and a 200-day simple moving average of $191.11. The stock has a market capitalization of $18.21 billion, a price-to-earnings ratio of 18.06, a PEG ratio of 1.68 and a beta of 0.86. SBA Communications Corporation has a 1-year low of $162.41 and a 1-year high of $245.16.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Thursday, February 26th. The technology company reported $3.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.25 by $0.22. The business had revenue of $719.58 million for the quarter, compared to analyst estimates of $725.80 million. SBA Communications had a net margin of 36.40% and a negative return on equity of 20.81%. SBA Communications’s revenue was up 3.7% compared to the same quarter last year. During the same period last year, the business posted $3.47 EPS. As a group, research analysts predict that SBA Communications Corporation will post 12.57 earnings per share for the current year.

SBA Communications Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.9%. This is a positive change from SBA Communications’s previous quarterly dividend of $1.11. The ex-dividend date was Friday, March 13th. SBA Communications’s dividend payout ratio is currently 52.47%.

Wall Street Analysts Forecast Growth

SBAC has been the subject of several recent research reports. Wells Fargo & Company cut their price objective on SBA Communications from $205.00 to $195.00 and set an “equal weight” rating for the company in a report on Friday, February 27th. Sanford C. Bernstein initiated coverage on SBA Communications in a research note on Thursday, March 5th. They issued a “market perform” rating and a $218.00 target price on the stock. Scotiabank dropped their target price on SBA Communications from $233.00 to $223.00 and set a “sector perform” rating on the stock in a research report on Monday, March 2nd. Royal Bank Of Canada raised their price target on SBA Communications from $215.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, March 2nd. Finally, Morgan Stanley reduced their target price on shares of SBA Communications from $225.00 to $215.00 and set an “equal weight” rating for the company in a research note on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, SBA Communications currently has an average rating of “Hold” and an average target price of $230.11.

About SBA Communications

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.