Orion Portfolio Solutions LLC Has $1.18 Million Stake in SBA Communications Co. (NASDAQ:SBAC)

Orion Portfolio Solutions LLC decreased its position in SBA Communications Co. (NASDAQ:SBAC) by 6.7% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 4,898 shares of the technology company’s stock after selling 353 shares during the period. Orion Portfolio Solutions LLC’s holdings in SBA Communications were worth $1,179,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in SBA Communications in the 3rd quarter worth approximately $26,000. Capital Performance Advisors LLP acquired a new position in SBA Communications in the 3rd quarter worth approximately $35,000. Ridgewood Investments LLC acquired a new position in SBA Communications in the 2nd quarter worth approximately $32,000. Family Firm Inc. acquired a new position in SBA Communications in the 2nd quarter worth approximately $36,000. Finally, Friedenthal Financial acquired a new position in SBA Communications in the 3rd quarter worth approximately $50,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Barclays lifted their target price on shares of SBA Communications from $236.00 to $256.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. TD Cowen lifted their target price on shares of SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. KeyCorp lifted their target price on shares of SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Raymond James lifted their target price on shares of SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, Wells Fargo & Company lifted their target price on shares of SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, SBA Communications presently has a consensus rating of “Moderate Buy” and an average target price of $257.23.

SBA Communications Trading Down 0.8 %

SBAC stock opened at $214.28 on Friday. The firm has a market cap of $23.04 billion, a PE ratio of 33.80, a PEG ratio of 0.73 and a beta of 0.67. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $258.76. The company has a fifty day simple moving average of $228.76 and a 200 day simple moving average of $220.07.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.77). The firm had revenue of $667.60 million during the quarter, compared to the consensus estimate of $669.29 million. SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The business’s revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the business earned $3.34 EPS. As a group, analysts forecast that SBA Communications Co. will post 12.56 EPS for the current fiscal year.

SBA Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 14th were issued a $0.98 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.92 annualized dividend and a yield of 1.83%. SBA Communications’s dividend payout ratio (DPR) is presently 61.83%.

Insider Buying and Selling

In other news, EVP Mark R. Ciarfella sold 3,545 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $224.33, for a total transaction of $795,249.85. Following the completion of the transaction, the executive vice president now owns 33,588 shares of the company’s stock, valued at approximately $7,534,796.04. This represents a 9.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.

SBA Communications 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.