SG Americas Securities LLC Purchases 171,644 Shares of SBA Communications Corporation $SBAC

SG Americas Securities LLC raised its position in shares of SBA Communications Corporation (NASDAQ:SBAC) by 8,430.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 173,680 shares of the technology company’s stock after acquiring an additional 171,644 shares during the period. SG Americas Securities LLC’s holdings in SBA Communications were worth $33,595,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Elevation Wealth Partners LLC grew its position in SBA Communications by 523.8% during the 4th quarter. Elevation Wealth Partners LLC now owns 131 shares of the technology company’s stock worth $25,000 after acquiring an additional 110 shares during the last quarter. Quent Capital LLC acquired a new stake in SBA Communications during the 3rd quarter valued at $27,000. Geneos Wealth Management Inc. raised its position 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 purchasing an additional 84 shares during the last quarter. Fulcrum Asset Management LLP bought a new position in SBA Communications in the 3rd quarter valued at $32,000. Finally, Stance Capital LLC acquired a new position in SBA Communications in the third quarter worth $45,000. Institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Performance

NASDAQ SBAC opened at $165.15 on Thursday. The stock has a market capitalization of $17.47 billion, a P/E ratio of 17.33, a price-to-earnings-growth ratio of 1.65 and a beta of 0.86. SBA Communications Corporation has a 52 week low of $162.41 and a 52 week high of $245.16. The stock has a fifty day moving average of $189.43 and a 200-day moving average of $191.88.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Thursday, February 26th. The technology company reported $3.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.25 by $0.22. The business had revenue of $719.58 million for the quarter, compared to analyst estimates of $725.80 million. SBA Communications had a negative return on equity of 20.81% and a net margin of 36.40%.The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.47 earnings per share. Equities research analysts forecast that SBA Communications Corporation will post 12.57 earnings per share for the current fiscal year.

SBA Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $5.00 annualized dividend and a yield of 3.0%. This is an increase from SBA Communications’s previous quarterly dividend of $1.11. SBA Communications’s dividend payout ratio (DPR) is presently 52.47%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Weiss Ratings restated a “hold (c-)” rating on shares of SBA Communications in a report on Friday, January 9th. Royal Bank Of Canada upped their price target on shares of SBA Communications from $215.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, March 2nd. Morgan Stanley decreased their price objective on shares of SBA Communications from $225.00 to $215.00 and set an “equal weight” rating on the stock in a report on Monday, March 2nd. JPMorgan Chase & Co. lowered their price objective on shares of SBA Communications from $245.00 to $240.00 and set a “neutral” rating for the company in a research report on Monday, January 12th. Finally, UBS Group dropped their target price on shares of SBA Communications from $275.00 to $260.00 and set a “buy” rating for the company in a research note on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $232.17.

SBA Communications Company 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.