Janney Montgomery Scott LLC Sells 378 Shares of SBA Communications Co. (NASDAQ:SBAC)

Janney Montgomery Scott LLC reduced its stake in SBA Communications Co. (NASDAQ:SBACGet Rating) by 11.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,972 shares of the technology company’s stock after selling 378 shares during the quarter. Janney Montgomery Scott LLC’s holdings in SBA Communications were worth $846,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Crewe Advisors LLC bought a new stake in SBA Communications in the 2nd quarter valued at $26,000. Carolinas Wealth Consulting LLC increased its stake in SBA Communications by 248.0% in the 1st quarter. Carolinas Wealth Consulting LLC now owns 87 shares of the technology company’s stock valued at $30,000 after buying an additional 62 shares during the last quarter. AdvisorNet Financial Inc increased 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 buying an additional 32 shares during the last quarter. Private Trust Co. NA acquired a new stake in SBA Communications in the 2nd quarter valued at $30,000. Finally, Whittier Trust Co. increased its stake in SBA Communications by 131.8% in the 3rd quarter. Whittier Trust Co. now owns 102 shares of the technology company’s stock valued at $29,000 after buying an additional 58 shares during the last quarter. 93.54% of the stock is owned by institutional investors.

SBA Communications Stock Performance

Shares of SBAC stock opened at $294.45 on Friday. The company has a market capitalization of $31.79 billion, a price-to-earnings ratio of 79.37 and a beta of 0.49. The company has a 50-day simple moving average of $291.22 and a 200 day simple moving average of $300.90. SBA Communications Co. has a 52 week low of $236.20 and a 52 week high of $379.99.

SBA Communications (NASDAQ:SBACGet Rating) last announced its earnings results on Monday, October 31st. The technology company reported $0.91 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.04). The company had revenue of $675.60 million for the quarter, compared to the consensus estimate of $651.42 million. SBA Communications had a negative return on equity of 7.57% and a net margin of 16.01%. The business’s quarterly revenue was up 14.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.71 EPS. Sell-side analysts forecast that SBA Communications Co. will post 11.35 EPS for the current year.

SBA Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Thursday, November 17th were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date was Wednesday, November 16th. SBA Communications’s dividend payout ratio is currently 76.55%.

Wall Street Analysts Forecast Growth

SBAC has been the topic of several recent research reports. Royal Bank of Canada lowered their price target on shares of SBA Communications from $370.00 to $330.00 and set an “outperform” rating on the stock in a research note on Monday, November 7th. KeyCorp lowered their price objective on shares of SBA Communications from $389.00 to $335.00 and set an “overweight” rating on the stock in a research note on Monday, October 3rd. Wells Fargo & Company boosted their price objective on shares of SBA Communications from $300.00 to $340.00 in a research note on Wednesday, December 14th. Truist Financial lowered their price objective on shares of SBA Communications from $400.00 to $350.00 and set a “buy” rating on the stock in a research note on Friday, January 13th. Finally, Cowen lowered their price objective on shares of SBA Communications from $389.00 to $341.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 1st. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $341.27.

SBA Communications Company Profile

(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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