Schwartz Investment Counsel Inc. Sells 65,000 Shares of SBA Communications Corporation $SBAC

Schwartz Investment Counsel Inc. reduced its position in SBA Communications Corporation (NASDAQ:SBAC) by 23.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 209,000 shares of the technology company’s stock after selling 65,000 shares during the period. SBA Communications comprises 1.4% of Schwartz Investment Counsel Inc.’s holdings, making the stock its 25th largest position. Schwartz Investment Counsel Inc. owned about 0.19% of SBA Communications worth $40,410,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Quent Capital LLC acquired a new stake in shares of SBA Communications in the third quarter valued at approximately $27,000. CVA Family Office LLC increased its holdings in shares of SBA Communications by 106.3% during the 2nd quarter. CVA Family Office LLC now owns 130 shares of the technology company’s stock worth $31,000 after acquiring an additional 67 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in SBA Communications by 105.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after acquiring an additional 84 shares during the period. SJS Investment Consulting Inc. bought a new stake in SBA Communications in the 3rd quarter valued at $48,000. Finally, IFP Advisors Inc lifted its holdings in SBA Communications by 75.9% during the 2nd quarter. IFP Advisors Inc now owns 234 shares of the technology company’s stock valued at $55,000 after purchasing an additional 101 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Cowen reiterated a “buy” rating on shares of SBA Communications in a report on Tuesday, November 4th. Royal Bank Of Canada reduced their target price on shares of SBA Communications from $235.00 to $232.00 and set an “outperform” rating for the company in a report on Monday, November 10th. Wells Fargo & Company decreased their price target on shares of SBA Communications from $215.00 to $205.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 16th. Weiss Ratings restated a “hold (c-)” rating on shares of SBA Communications in a research report on Friday, January 9th. Finally, Citigroup reduced their price objective on SBA Communications from $265.00 to $235.00 and set a “buy” rating for the company in a report on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, SBA Communications currently has a consensus rating of “Moderate Buy” and an average price target of $233.59.

SBA Communications Stock Performance

NASDAQ:SBAC opened at $194.11 on Monday. SBA Communications Corporation has a 52 week low of $179.89 and a 52 week high of $245.16. The firm’s 50-day simple moving average is $191.96 and its 200 day simple moving average is $203.05. The firm has a market cap of $20.68 billion, a price-to-earnings ratio of 25.31, a P/E/G ratio of 1.71 and a beta of 0.87.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings data on Monday, November 3rd. The technology company reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.21 by $0.09. SBA Communications had a net margin of 29.69% and a negative return on equity of 16.60%. The firm had revenue of $732.33 million during the quarter, compared to the consensus estimate of $715.65 million. During the same quarter in the previous year, the firm posted $3.32 EPS. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. Sell-side analysts anticipate that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Thursday, November 13th were given a dividend of $1.11 per share. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $4.44 dividend on an annualized basis and a yield of 2.3%. SBA Communications’s dividend payout ratio is currently 57.89%.

SBA Communications Profile

SBA Communications Corporation (NASDAQ: SBAC) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its core business is the leasing of space on communications towers, rooftop sites and other wireless structures to mobile network operators, broadband providers and other wireless service customers. The company also provides site development, construction and ongoing site management services to support the deployment and operation of wireless networks.

In addition to traditional macro towers, SBA offers a range of infrastructure solutions designed for dense urban and suburban markets, including small cells, distributed antenna systems (DAS) and fiber backhaul and transport services.