United Asset Strategies Inc. Boosts Stake in SBA Communications Co. (NASDAQ:SBAC)

United Asset Strategies Inc. boosted its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 12.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,383 shares of the technology company’s stock after acquiring an additional 273 shares during the period. United Asset Strategies Inc.’s holdings in SBA Communications were worth $468,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Ridgewood Investments LLC acquired a new position in shares of SBA Communications during the 2nd quarter worth approximately $32,000. Family Firm Inc. purchased a new stake in SBA Communications in the 2nd quarter valued at $36,000. Quarry LP increased its stake in shares of 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 acquiring an additional 132 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of SBA Communications by 4,500.0% during the 2nd quarter. Versant Capital Management Inc now owns 276 shares of the technology company’s stock worth $54,000 after acquiring an additional 270 shares during the period. Finally, Crewe Advisors LLC purchased a new position in shares of SBA Communications during the 1st quarter worth $70,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Insider Transactions at SBA Communications

In related news, Chairman Jeffrey Stoops sold 49,765 shares of SBA Communications 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 transaction, the chairman now directly owns 109,583 shares in the company, valued at $24,328,521.83. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of the stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total value of $71,363.50. Following the sale, the director now directly owns 8,084 shares of the company’s stock, valued at approximately $1,775,084.72. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Jeffrey Stoops sold 49,765 shares of SBA Communications stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the sale, the chairman now directly owns 109,583 shares of the company’s stock, valued at $24,328,521.83. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

SBA Communications Trading Up 0.1 %

SBAC stock opened at $226.66 on Tuesday. The business’s fifty day moving average price is $211.93 and its 200 day moving average price is $206.21. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $258.76. The company has a market capitalization of $24.35 billion, a PE ratio of 44.44, a P/E/G ratio of 0.70 and a beta of 0.65.

SBA Communications (NASDAQ:SBAC) last issued its quarterly 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 business had revenue of $660.50 million for the quarter, compared to analysts’ expectations of $665.21 million. During the same quarter last year, the company earned $3.24 earnings per share. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. Research analysts predict that SBA Communications Co. will post 12.53 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Thursday, August 22nd will be given a $0.98 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $3.92 annualized dividend and a yield of 1.73%. SBA Communications’s dividend payout ratio is presently 76.86%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. StockNews.com lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Royal Bank of Canada lifted their price target on shares of SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. TD Cowen lowered their price objective on SBA Communications from $253.00 to $251.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. The Goldman Sachs Group assumed coverage on SBA Communications in a research note on Monday, July 1st. They set a “neutral” rating and a $212.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft upped their price target on SBA Communications from $230.00 to $240.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $237.92.

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.