AE Wealth Management LLC Purchases 46 Shares of SBA Communications Co. (NASDAQ:SBAC)

AE Wealth Management LLC grew its position in shares of SBA Communications Co. (NASDAQ:SBACGet Rating) by 6.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 797 shares of the technology company’s stock after buying an additional 46 shares during the quarter. AE Wealth Management LLC’s holdings in SBA Communications were worth $227,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Crewe Advisors LLC purchased a new stake in shares of SBA Communications during the second quarter valued at approximately $26,000. Whittier Trust Co. increased its position in shares of SBA Communications by 131.8% during the 3rd quarter. Whittier Trust Co. now owns 102 shares of the technology company’s stock valued at $29,000 after purchasing an additional 58 shares during the last quarter. AdvisorNet Financial Inc boosted its holdings in shares of SBA Communications by 52.5% in the 2nd quarter. AdvisorNet Financial Inc now owns 93 shares of the technology company’s stock worth $30,000 after buying an additional 32 shares during the last quarter. Private Trust Co. NA bought a new position in SBA Communications during the second quarter valued at about $30,000. Finally, Carolinas Wealth Consulting LLC increased its holdings in SBA Communications by 248.0% during the first quarter. Carolinas Wealth Consulting LLC now owns 87 shares of the technology company’s stock worth $30,000 after buying an additional 62 shares during the last quarter. Institutional investors own 93.54% of the company’s stock.

SBA Communications Trading Down 3.4 %

Shares of NASDAQ SBAC opened at $292.48 on Thursday. The firm has a fifty day simple moving average of $291.27 and a two-hundred day simple moving average of $300.95. The firm has a market capitalization of $31.58 billion, a PE ratio of 78.84 and a beta of 0.49. SBA Communications Co. has a 12 month low of $236.20 and a 12 month high of $379.99.

SBA Communications (NASDAQ:SBACGet Rating) last released its quarterly earnings results 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). SBA Communications had a negative return on equity of 7.57% and a net margin of 16.01%. The company had revenue of $675.60 million during the quarter, compared to the consensus estimate of $651.42 million. During the same period in the previous year, the company earned $2.71 earnings per share. SBA Communications’s quarterly revenue was up 14.6% on a year-over-year basis. On average, sell-side analysts predict that SBA Communications Co. will post 11.35 earnings per share for the current year.

SBA Communications Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Thursday, November 17th were paid a $0.71 dividend. The ex-dividend date of this dividend was Wednesday, November 16th. This represents a $2.84 annualized dividend and a yield of 0.97%. SBA Communications’s payout ratio is 76.55%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Royal Bank of Canada reduced their target price on shares of SBA Communications from $370.00 to $330.00 and set an “outperform” rating for the company in a research report on Monday, November 7th. KeyCorp reduced their price objective on SBA Communications from $389.00 to $335.00 and set an “overweight” rating on the stock in a research report on Monday, October 3rd. UBS Group decreased their target price on shares of SBA Communications to $365.00 in a research report on Friday, November 4th. Wells Fargo & Company boosted their target price on SBA Communications from $300.00 to $340.00 in a research note on Wednesday, December 14th. Finally, Credit Suisse Group dropped their target price on SBA Communications from $408.00 to $346.00 and set an “outperform” rating for the company in a report on Tuesday, November 1st. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $341.27.

About SBA Communications

(Get Rating)

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.

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Institutional Ownership by Quarter for SBA Communications (NASDAQ:SBAC)

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