SBA Communications Co. (NASDAQ:SBAC) Shares Acquired by Legacy Capital Wealth Partners LLC

Legacy Capital Wealth Partners LLC increased its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 100.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,497 shares of the technology company’s stock after purchasing an additional 1,754 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in SBA Communications were worth $842,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of SBA Communications in the second quarter valued at approximately $134,738,000. Long Pond Capital LP acquired a new position in shares of SBA Communications during the 2nd quarter worth approximately $83,687,000. AQR Capital Management LLC lifted its position in shares of SBA Communications by 500.0% in the second quarter. AQR Capital Management LLC now owns 369,037 shares of the technology company’s stock valued at $72,375,000 after acquiring an additional 307,530 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in SBA Communications by 13.4% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,973,867 shares of the technology company’s stock valued at $387,470,000 after purchasing an additional 233,179 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in SBA Communications by 1,305.8% during the first quarter. Janus Henderson Group PLC now owns 224,985 shares of the technology company’s stock worth $48,732,000 after acquiring an additional 208,981 shares during the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

SBA Communications Stock Up 1.1 %

Shares of SBAC stock opened at $223.92 on Friday. The firm has a 50-day moving average price of $237.64 and a 200 day moving average price of $215.43. 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 $24.08 billion, a P/E ratio of 35.32, a P/E/G ratio of 0.74 and a beta of 0.68.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). The business had revenue of $667.60 million for the quarter, compared to analyst estimates of $669.29 million. SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. SBA Communications’s revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the firm posted $3.34 EPS. As a group, research analysts expect that SBA Communications Co. will post 12.56 earnings per share for the current year.

SBA Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 14th will be issued a dividend of $0.98 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.75%. SBA Communications’s payout ratio is 61.83%.

Insider Activity

In other SBA Communications news, EVP Donald Day sold 1,500 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $242.86, for a total transaction of $364,290.00. Following the sale, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at approximately $1,213,814.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Donald Day sold 1,500 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $242.86, for a total value of $364,290.00. Following the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,213,814.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director George R. Krouse, Jr. sold 325 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was 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 in the company, valued at $1,775,084.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

SBAC has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft boosted their price target on SBA Communications from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Morgan Stanley boosted their price target on SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 18th. Royal Bank of Canada increased their price objective on shares of SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. boosted their target price on shares of SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Finally, TD Cowen increased their price target on SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $257.23.

SBA Communications Company Profile

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.