Commerzbank Aktiengesellschaft FI increased its position in SBA Communications Co. (NASDAQ:SBAC) by 396.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,379 shares of the technology company’s stock after purchasing an additional 9,086 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in SBA Communications were worth $2,744,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Advisory Services Network LLC lifted its holdings in SBA Communications by 65.4% during the second quarter. Advisory Services Network LLC now owns 129 shares of the technology company’s stock worth $29,000 after buying an additional 51 shares during the period. Redhawk Wealth Advisors Inc. purchased a new stake in SBA Communications during the second quarter worth $29,000. Certified Advisory Corp purchased a new stake in SBA Communications during the second quarter worth $31,000. Berman Capital Advisors LLC lifted its holdings in SBA Communications by 103.9% during the second quarter. Berman Capital Advisors LLC now owns 155 shares of the technology company’s stock worth $34,000 after buying an additional 79 shares during the period. Finally, Next Capital Management LLC purchased a new stake in SBA Communications during the second quarter worth $43,000. 93.29% of the stock is currently owned by institutional investors.
Shares of SBAC opened at $244.10 on Monday. SBA Communications Co. has a 12 month low of $150.52 and a 12 month high of $270.42. The stock has a fifty day moving average price of $247.57 and a 200-day moving average price of $230.02. The firm has a market cap of $27.15 billion, a PE ratio of 32.12, a P/E/G ratio of 3.09 and a beta of 0.65.
SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, July 29th. The technology company reported $0.28 EPS for the quarter, missing the consensus estimate of $1.86 by ($1.58). SBA Communications had a net margin of 6.75% and a negative return on equity of 4.12%. The business had revenue of $500.10 million for the quarter, compared to analysts’ expectations of $489.09 million. During the same quarter in the prior year, the company posted ($0.50) EPS. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. Research analysts forecast that SBA Communications Co. will post 7.78 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, August 28th were issued a dividend of $0.37 per share. The ex-dividend date was Tuesday, August 27th. This represents a $1.48 annualized dividend and a dividend yield of 0.61%. SBA Communications’s dividend payout ratio is presently 19.47%.
In other news, Director George R. Krouse, Jr. sold 620 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $258.26, for a total transaction of $160,121.20. Following the completion of the sale, the director now owns 10,000 shares in the company, valued at approximately $2,582,600. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director George R. Krouse, Jr. sold 2,087 shares of the stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $247.51, for a total value of $516,553.37. Following the sale, the director now owns 10,950 shares of the company’s stock, valued at approximately $2,710,234.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 101,616 shares of company stock valued at $26,774,328. Company insiders own 2.50% of the company’s stock.
A number of analysts have weighed in on the company. Bank of America restated a “neutral” rating and set a $260.00 target price (up previously from $245.00) on shares of SBA Communications in a report on Wednesday, August 14th. TheStreet upgraded SBA Communications from a “c” rating to a “b-” rating in a report on Monday, July 29th. ValuEngine lowered SBA Communications from a “buy” rating to a “hold” rating in a report on Friday, September 27th. BidaskClub lowered SBA Communications from a “buy” rating to a “hold” rating in a report on Thursday. Finally, JPMorgan Chase & Co. lowered SBA Communications from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $220.00 to $270.00 in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $238.92.
SBA Communications Profile
SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America. By Building Better Wireless, SBA generates revenue from two primary businesses – site leasing and site development services. The primary focus of the Company is the leasing of antenna space on its multi-tenant communication sites to a variety of wireless service providers under long-term lease contracts.
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