Raymond James Financial Services Advisors Inc. boosted its holdings in SBA Communications Co. (NASDAQ:SBAC – Get Rating) by 1.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,840 shares of the technology company’s stock after purchasing an additional 136 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in SBA Communications were worth $3,039,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Carolinas Wealth Consulting LLC boosted its position in SBA Communications by 248.0% in the first quarter. Carolinas Wealth Consulting LLC now owns 87 shares of the technology company’s stock worth $30,000 after purchasing an additional 62 shares during the last quarter. Allworth Financial LP lifted its position in shares of SBA Communications by 246.2% during the 4th quarter. Allworth Financial LP now owns 90 shares of the technology company’s stock valued at $25,000 after buying an additional 64 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of SBA Communications by 71.7% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 91 shares of the technology company’s stock valued at $26,000 after buying an additional 38 shares during the last quarter. Ancora Advisors LLC lifted its position in shares of SBA Communications by 88.6% during the 1st quarter. Ancora Advisors LLC now owns 132 shares of the technology company’s stock valued at $37,000 after buying an additional 62 shares during the last quarter. Finally, Emerald Advisers LLC purchased a new position in shares of SBA Communications during the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 93.54% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on SBAC. Credit Suisse Group dropped their price target on SBA Communications from $346.00 to $330.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 22nd. Wells Fargo & Company dropped their price target on SBA Communications from $340.00 to $300.00 in a research report on Tuesday, May 2nd. Raymond James dropped their price target on SBA Communications from $334.00 to $330.00 in a research report on Tuesday, May 2nd. StockNews.com initiated coverage on SBA Communications in a research report on Thursday. They set a “hold” rating on the stock. Finally, Royal Bank of Canada decreased their price objective on SBA Communications from $320.00 to $290.00 in a research note on Monday, May 8th. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, SBA Communications currently has a consensus rating of “Moderate Buy” and an average target price of $322.93.
SBA Communications Stock Down 0.7 %
SBA Communications (NASDAQ:SBAC – Get Rating) last announced its earnings results on Monday, May 1st. The technology company reported $0.93 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.28). The business had revenue of $675.52 million during the quarter, compared to the consensus estimate of $672.47 million. SBA Communications had a negative return on equity of 7.01% and a net margin of 13.91%. SBA Communications’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.96 earnings per share. As a group, research analysts anticipate that SBA Communications Co. will post 11.74 EPS for the current fiscal year.
SBA Communications Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 21st. Investors of record on Friday, May 26th will be issued a dividend of $0.85 per share. The ex-dividend date is Thursday, May 25th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.46%. SBA Communications’s dividend payout ratio is 99.42%.
SBA Communications Profile
SBA Communications Corp. is a real estate investment trust, which engages in the provision of wireless communications infrastructures. It operates through the following business segments: Domestic Site Leasing, International Site Leasing, and Site Development. The Domestic Site Leasing segment includes AT&T, Sprint, T-Mobile, and Verizon Wireless.
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