Reaves W H & Co. Inc. Sells 44,380 Shares of SBA Communications Corporation $SBAC

Reaves W H & Co. Inc. cut its stake in SBA Communications Corporation (NASDAQ:SBAC) by 10.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 362,464 shares of the technology company’s stock after selling 44,380 shares during the quarter. SBA Communications accounts for about 1.2% of Reaves W H & Co. Inc.’s investment portfolio, making the stock its 26th largest holding. Reaves W H & Co. Inc. owned 0.34% of SBA Communications worth $70,111,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in SBAC. Elevation Wealth Partners LLC grew its stake in shares of SBA Communications by 523.8% in the fourth 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 period. Fulcrum Asset Management LLP bought a new stake in SBA Communications during the third quarter valued at approximately $32,000. Geneos Wealth Management Inc. grew its position in SBA Communications by 105.0% during the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after buying an additional 84 shares during the period. High Point Wealth Management LLC bought a new stake in SBA Communications during the fourth quarter valued at approximately $39,000. Finally, Stance Capital LLC bought a new stake in SBA Communications during the third quarter valued at approximately $45,000. 97.35% of the stock is currently owned by institutional investors.

SBA Communications Price Performance

SBAC opened at $203.16 on Monday. The firm has a market cap of $21.55 billion, a P/E ratio of 21.39, a PEG ratio of 2.03 and a beta of 0.99. SBA Communications Corporation has a 1-year low of $162.41 and a 1-year high of $243.16. The company has a 50 day simple moving average of $204.11 and a two-hundred day simple moving average of $195.98.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Thursday, February 26th. The technology company reported $3.47 earnings per share for the quarter, topping analysts’ consensus estimates of $3.25 by $0.22. The business had revenue of $719.58 million during the quarter, compared to analyst estimates of $725.80 million. SBA Communications had a net margin of 35.66% and a negative return on equity of 20.90%. The company’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the business posted $3.47 earnings per share. Equities analysts anticipate that SBA Communications Corporation will post 11.42 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, June 17th. Stockholders of record on Friday, May 22nd will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, May 22nd. SBA Communications’s payout ratio is 52.63%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SBAC. Morgan Stanley boosted their target price on shares of SBA Communications from $215.00 to $225.00 and gave the company an “equal weight” rating in a research report on Thursday, April 9th. Sanford C. Bernstein began coverage on shares of SBA Communications in a research report on Thursday, March 5th. They set a “market perform” rating and a $218.00 target price for the company. Royal Bank Of Canada boosted their target price on shares of SBA Communications from $215.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, March 2nd. Truist Financial restated a “buy” rating and set a $248.00 target price (up from $247.00) on shares of SBA Communications in a research report on Tuesday, May 5th. Finally, Scotiabank boosted their target price on shares of SBA Communications from $223.00 to $230.00 and gave the company a “sector perform” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $237.22.

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.