Raymond James Financial Services Advisors Inc. increased its stake in SBA Communications Co. (NASDAQ:SBAC – Get Rating) by 10.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,704 shares of the technology company’s stock after purchasing an additional 978 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in SBA Communications were worth $3,047,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the company. Great Diamond Partners LLC raised its stake in shares of SBA Communications by 2.9% in the second quarter. Great Diamond Partners LLC now owns 1,084 shares of the technology company’s stock valued at $346,000 after buying an additional 31 shares during the period. AdvisorNet Financial Inc raised its stake in SBA Communications by 52.5% in the 2nd quarter. AdvisorNet Financial Inc now owns 93 shares of the technology company’s stock valued at $30,000 after acquiring an additional 32 shares during the period. Quadrant Capital Group LLC lifted its holdings in SBA Communications by 3.3% during the second quarter. Quadrant Capital Group LLC now owns 1,056 shares of the technology company’s stock valued at $338,000 after purchasing an additional 34 shares during the last quarter. Clearstead Advisors LLC boosted its position in SBA Communications by 4.2% during the second quarter. Clearstead Advisors LLC now owns 852 shares of the technology company’s stock worth $273,000 after purchasing an additional 34 shares during the period. Finally, Gateway Investment Advisers LLC increased its stake in shares of SBA Communications by 2.5% in the second quarter. Gateway Investment Advisers LLC now owns 1,492 shares of the technology company’s stock worth $478,000 after purchasing an additional 36 shares in the last quarter. Hedge funds and other institutional investors own 93.54% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on the stock. Cowen cut their price objective on shares of SBA Communications from $389.00 to $341.00 and set an “outperform” rating for the company in a report on Tuesday, November 1st. Royal Bank of Canada reduced their price target on SBA Communications from $370.00 to $330.00 and set an “outperform” rating for the company in a research report on Monday, November 7th. Barclays dropped their price objective on SBA Communications from $341.00 to $336.00 and set an “overweight” rating on the stock in a report on Thursday. Cowen reduced their target price on SBA Communications from $389.00 to $341.00 and set an “outperform” rating for the company in a report on Tuesday, November 1st. Finally, StockNews.com downgraded shares of SBA Communications from a “buy” rating to a “hold” rating in a report on Tuesday, November 22nd. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, SBA Communications currently has a consensus rating of “Moderate Buy” and a consensus target price of $341.27.
SBA Communications Stock Performance
SBA Communications (NASDAQ:SBAC – Get Rating) last posted its quarterly earnings data on Monday, October 31st. The technology company reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.04). The firm had revenue of $675.60 million during the quarter, compared to analysts’ expectations of $651.42 million. SBA Communications had a negative return on equity of 7.57% and a net margin of 16.01%. SBA Communications’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.71 earnings per share. As a group, analysts forecast that SBA Communications Co. will post 11.35 EPS for the current fiscal year.
SBA Communications Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Thursday, November 17th were issued a $0.71 dividend. The ex-dividend date was Wednesday, November 16th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.93%. SBA Communications’s payout ratio is 76.55%.
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 and South Africa. By Building Better Wireless, SBA generates revenue from two primary businesses – site leasing and site development services.
- Get a free copy of the StockNews.com research report on SBA Communications (SBAC)
- MarketBeat: Week in Review 01/09-01/13
- JPMorgan Chase Falls As Banks Brace For Recession
- Why is the Bed Bath & Beyond Stock Price up 261%?
- Roku Stock Price is Trending, Here’s Why
- Carvana Stock Rally, Here’s What You Need to Know
Receive News & Ratings for SBA Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SBA Communications and related companies with MarketBeat.com's FREE daily email newsletter.