SBA Communications Co. (NASDAQ:SBAC) Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 10.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,126 shares of the technology company’s stock after acquiring an additional 404 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in SBA Communications were worth $810,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Glassman Wealth Services increased its holdings in SBA Communications by 79.1% in the 4th quarter. Glassman Wealth Services now owns 154 shares of the technology company’s stock worth $39,000 after buying an additional 68 shares during the period. Quarry LP increased its holdings in SBA Communications by 400.0% in the 4th quarter. Quarry LP now owns 165 shares of the technology company’s stock worth $42,000 after buying an additional 132 shares during the period. Versant Capital Management Inc increased its holdings in SBA Communications by 4,500.0% in the 2nd quarter. Versant Capital Management Inc now owns 276 shares of the technology company’s stock worth $54,000 after buying an additional 270 shares during the period. Crewe Advisors LLC acquired a new position in SBA Communications in the 1st quarter worth approximately $70,000. Finally, Mather Group LLC. acquired a new position in SBA Communications in the 1st quarter worth approximately $76,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Stock Performance

Shares of SBAC stock opened at $219.30 on Thursday. The stock’s fifty day moving average is $206.72 and its two-hundred day moving average is $205.63. The firm has a market capitalization of $23.57 billion, a P/E ratio of 43.00, a PEG ratio of 0.67 and a beta of 0.65. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $258.76.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, July 29th. The technology company reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.56). SBA Communications had a negative return on equity of 9.85% and a net margin of 19.22%. The company had revenue of $660.50 million during the quarter, compared to analyst estimates of $665.21 million. During the same period last year, the business earned $3.24 earnings per share. The firm’s revenue was down 2.7% compared to the same quarter last year. On average, equities analysts forecast that SBA Communications Co. will post 12.53 earnings per share for the current year.

SBA Communications Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Thursday, August 22nd will be paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend is Thursday, August 22nd. SBA Communications’s dividend payout ratio (DPR) is presently 76.86%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. TD Cowen dropped their price objective on shares of SBA Communications from $253.00 to $251.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Citigroup decreased their target price on SBA Communications from $290.00 to $260.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. KeyCorp increased their target price on SBA Communications from $227.00 to $230.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Royal Bank of Canada increased their target price on SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Finally, The Goldman Sachs Group assumed coverage on SBA Communications in a research report on Monday, July 1st. They set a “neutral” rating and a $212.00 target price on the stock. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $241.54.

Insiders Place Their Bets

In other SBA Communications news, Chairman Jeffrey Stoops sold 49,765 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $222.01, for a total value of $11,048,327.65. Following the completion of the sale, the chairman now directly owns 109,583 shares of the company’s stock, valued at approximately $24,328,521.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

About SBA Communications

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.