SBA Communications Corporation $SBAC Stock Bought by CenterBook Partners LP

CenterBook Partners LP raised its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 94.9% in the third quarter, Holdings Channel reports. The fund owned 5,674 shares of the technology company’s stock after acquiring an additional 2,763 shares during the period. CenterBook Partners LP’s holdings in SBA Communications were worth $909,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. J. Safra Sarasin Holding AG grew its holdings in shares of SBA Communications by 4.0% in the 1st quarter. J. Safra Sarasin Holding AG now owns 1,596 shares of the technology company’s stock worth $275,000 after purchasing an additional 62 shares during the last quarter. CX Institutional lifted its holdings in SBA Communications by 44.2% during the 2nd quarter. CX Institutional now owns 212 shares of the technology company’s stock valued at $37,000 after purchasing an additional 65 shares during the last quarter. GAMMA Investing LLC lifted its holdings in SBA Communications by 5.7% during the 2nd quarter. GAMMA Investing LLC now owns 1,289 shares of the technology company’s stock valued at $227,000 after purchasing an additional 70 shares during the last quarter. North Dakota State Investment Board boosted its position in SBA Communications by 2.5% in the third quarter. North Dakota State Investment Board now owns 3,227 shares of the technology company’s stock valued at $517,000 after buying an additional 78 shares in the last quarter. Finally, Everhart Financial Group Inc. boosted its position in SBA Communications by 5.6% in the second quarter. Everhart Financial Group Inc. now owns 1,525 shares of the technology company’s stock valued at $269,000 after buying an additional 81 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Stock Up 0.6%

Shares of NASDAQ SBAC opened at $191.43 on Wednesday. The firm’s 50-day simple moving average is $179.82 and its 200 day simple moving average is $190.05. The company has a market cap of $20.31 billion, a price-to-earnings ratio of 15.33, a price-to-earnings-growth ratio of 1.90 and a beta of 0.97. SBA Communications Corporation has a 12-month low of $156.60 and a 12-month high of $224.46.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, November 2nd. The technology company reported $2.19 EPS for the quarter, topping analysts’ consensus estimates of $2.09 by $0.10. The firm had revenue of $713.92 million for the quarter, compared to analyst estimates of $724.07 million. SBA Communications had a net margin of 34.54% and a negative return on equity of 20.67%. The company’s revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.30 EPS. On average, equities analysts expect that SBA Communications Corporation will post 11.45 earnings per share for the current year.

SBA Communications Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Thursday, November 12th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Thursday, November 12th. SBA Communications’s dividend payout ratio is presently 53.94%.

Insider Activity

In other news, Director George R. Krouse, Jr. sold 300 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $182.67, for a total transaction of $54,801.00. Following the sale, the director directly owned 8,512 shares of the company’s stock, valued at $1,554,887.04. This represents a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 9.50% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. UBS Group cut shares of SBA Communications from a “market perform” rating to a “hold” rating in a research note on Monday, August 24th. BMO Capital Markets reaffirmed a “market perform” rating on shares of SBA Communications in a report on Monday, August 24th. Sanford C. Bernstein cut their target price on shares of SBA Communications from $219.00 to $208.00 and set a “market perform” rating for the company in a research note on Tuesday, October 20th. Barclays reduced their target price on SBA Communications from $208.00 to $207.00 and set an “overweight” rating on the stock in a report on Wednesday, September 30th. Finally, Weiss Ratings upgraded SBA Communications from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 15th. Nine analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, SBA Communications presently has an average rating of “Moderate Buy” and an average price target of $224.64.

SBA Communications Profile

SBA Communications is a real estate investment trust that owns and operates wireless communications infrastructure. Its primary business is leasing space on its communications towers and other sites to wireless carriers and other customers that need to install network equipment. The company also provides site development services, including helping customers identify, acquire, construct and manage locations for wireless infrastructure. Founded in 1989, SBA serves customers in the United States and several international markets, including countries in Central and South America and Africa.