Sugarloaf Wealth Management LLC Boosts Stake in SBA Communications Co. (NASDAQ:SBAC)

Sugarloaf Wealth Management LLC raised its holdings in SBA Communications Co. (NASDAQ:SBAC) by 11.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 558 shares of the technology company’s stock after acquiring an additional 58 shares during the period. Sugarloaf Wealth Management LLC’s holdings in SBA Communications were worth $134,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Oregon Public Employees Retirement Fund lifted its position in SBA Communications by 0.6% during the second quarter. Oregon Public Employees Retirement Fund now owns 9,265 shares of the technology company’s stock valued at $1,819,000 after purchasing an additional 53 shares during the last quarter. Ballentine Partners LLC grew its position in SBA Communications by 2.7% in the first quarter. Ballentine Partners LLC now owns 2,068 shares of the technology company’s stock worth $448,000 after acquiring an additional 55 shares in the last quarter. Checchi Capital Advisers LLC grew its position in SBA Communications by 4.1% in the second quarter. Checchi Capital Advisers LLC now owns 1,457 shares of the technology company’s stock worth $286,000 after acquiring an additional 57 shares in the last quarter. Industrial Alliance Investment Management Inc. increased its stake in SBA Communications by 3.9% in the first quarter. Industrial Alliance Investment Management Inc. now owns 1,560 shares of the technology company’s stock valued at $338,000 after acquiring an additional 58 shares during the last quarter. Finally, True North Advisors LLC raised its position in SBA Communications by 6.6% during the first quarter. True North Advisors LLC now owns 1,022 shares of the technology company’s stock valued at $221,000 after purchasing an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Analysts Set New Price Targets

SBAC has been the topic of several recent research reports. JPMorgan Chase & Co. increased their price objective on SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. KeyCorp upped their target price on SBA Communications from $227.00 to $230.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Royal Bank of Canada lifted their price target on shares of SBA Communications from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. TD Cowen cut their price objective on shares of SBA Communications from $253.00 to $251.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Finally, StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a research report on Friday, September 20th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $244.08.

SBA Communications Stock Up 0.4 %

Shares of SBA Communications stock opened at $238.62 on Wednesday. The company’s fifty day simple moving average is $230.36 and its two-hundred day simple moving average is $210.87. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $258.76. The firm has a market cap of $25.64 billion, a PE ratio of 46.79, a price-to-earnings-growth ratio of 0.73 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, July 29th. The technology company reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.07 by ($0.56). The business had revenue of $660.50 million during the quarter, compared to the consensus estimate of $665.21 million. SBA Communications had a negative return on equity of 9.85% and a net margin of 19.22%. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the previous year, the business earned $3.24 earnings per share. As a group, sell-side analysts expect that SBA Communications Co. will post 12.52 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Thursday, August 22nd were issued a dividend of $0.98 per share. The ex-dividend date was Thursday, August 22nd. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.64%. SBA Communications’s dividend payout ratio is presently 76.86%.

Insider Activity at SBA Communications

In related news, Director George R. Krouse, Jr. sold 325 shares of SBA Communications stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total value of $71,363.50. Following the sale, the director now owns 8,084 shares in the company, valued at $1,775,084.72. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total value of $71,363.50. Following the completion of the transaction, the director now owns 8,084 shares in the company, valued at approximately $1,775,084.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Donald Day sold 1,500 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $242.86, for a total value of $364,290.00. Following the transaction, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at $1,213,814.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 51,590 shares of company stock worth $11,483,981 over the last quarter. 1.30% of the stock is owned by corporate insiders.

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.