Personal CFO Solutions LLC Increases Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Personal CFO Solutions LLC boosted its position in shares of SBA Communications Co. (NASDAQ:SBACFree Report) by 6.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,328 shares of the technology company’s stock after acquiring an additional 83 shares during the quarter. Personal CFO Solutions LLC’s holdings in SBA Communications were worth $337,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. CVA Family Office LLC purchased a new position in shares of SBA Communications in the 4th quarter valued at about $37,000. Glassman Wealth Services boosted its stake in shares of SBA Communications by 79.1% in the 4th quarter. Glassman Wealth Services now owns 154 shares of the technology company’s stock valued at $39,000 after buying an additional 68 shares during the period. Pinnacle Bancorp Inc. boosted its stake in shares of SBA Communications by 73.6% in the 4th quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock valued at $40,000 after buying an additional 67 shares during the period. Allworth Financial LP boosted its stake in shares of SBA Communications by 37.8% in the 4th quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock valued at $42,000 after buying an additional 45 shares during the period. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in shares of SBA Communications in the 4th quarter valued at about $43,000. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Price Performance

Shares of SBAC stock opened at $193.16 on Tuesday. The business’s fifty day moving average price is $198.20 and its 200 day moving average price is $218.68. The firm has a market capitalization of $20.75 billion, a PE ratio of 37.87, a P/E/G ratio of 0.61 and a beta of 0.65. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $258.76.

SBA Communications (NASDAQ:SBACGet Free Report) last posted its earnings results on Monday, April 29th. The technology company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.21. The company had revenue of $657.86 million for the quarter, compared to the consensus estimate of $671.08 million. SBA Communications had a negative return on equity of 10.75% and a net margin of 20.61%. SBA Communications’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned $3.13 earnings per share. Equities research analysts expect that SBA Communications Co. will post 12.53 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Thursday, May 23rd will be given a dividend of $0.98 per share. The ex-dividend date is Wednesday, May 22nd. This represents a $3.92 dividend on an annualized basis and a yield of 2.03%. SBA Communications’s payout ratio is 76.86%.

Analysts Set New Price Targets

Several research firms recently weighed in on SBAC. StockNews.com cut SBA Communications from a “buy” rating to a “hold” rating in a research note on Friday, May 31st. BMO Capital Markets decreased their target price on SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a research note on Tuesday, February 27th. Royal Bank of Canada cut their price target on SBA Communications from $250.00 to $235.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Barclays cut their price target on SBA Communications from $241.00 to $240.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Finally, TD Cowen cut their price target on SBA Communications from $266.00 to $253.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, SBA Communications presently has an average rating of “Buy” and an average target price of $252.17.

Get Our Latest Report on SBA Communications

SBA Communications Profile

(Free Report)

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.

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

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