Wealthfront Advisers LLC Acquires 2,446 Shares of SBA Communications Corporation $SBAC

Wealthfront Advisers LLC lifted its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC) by 6.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,282 shares of the technology company’s stock after acquiring an additional 2,446 shares during the quarter. Wealthfront Advisers LLC’s holdings in SBA Communications were worth $8,372,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Certuity LLC raised its holdings in shares of SBA Communications by 14.6% during the fourth quarter. Certuity LLC now owns 1,975 shares of the technology company’s stock valued at $382,000 after acquiring an additional 252 shares in the last quarter. M&T Bank Corp raised its holdings in shares of SBA Communications by 29.0% during the fourth quarter. M&T Bank Corp now owns 3,854 shares of the technology company’s stock valued at $745,000 after acquiring an additional 866 shares in the last quarter. Inscription Capital LLC raised its holdings in shares of SBA Communications by 4.7% during the fourth quarter. Inscription Capital LLC now owns 5,127 shares of the technology company’s stock valued at $992,000 after acquiring an additional 230 shares in the last quarter. UBS Group AG raised its holdings in shares of SBA Communications by 12.3% during the fourth quarter. UBS Group AG now owns 673,127 shares of the technology company’s stock valued at $130,203,000 after acquiring an additional 73,980 shares in the last quarter. Finally, High Point Wealth Management LLC bought a new position in shares of SBA Communications during the fourth quarter valued at approximately $39,000. Institutional investors own 97.35% of the company’s stock.

SBA Communications Trading Down 0.7%

SBAC opened at $215.97 on Thursday. The stock has a fifty day simple moving average of $198.16 and a two-hundred day simple moving average of $194.02. The company has a market cap of $22.85 billion, a price-to-earnings ratio of 22.66, a price-to-earnings-growth ratio of 2.13 and a beta of 0.88. SBA Communications Corporation has a 12-month low of $162.41 and a 12-month high of $245.16.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Thursday, February 26th. The technology company reported $3.47 earnings per share for the quarter, beating the consensus estimate of $3.25 by $0.22. SBA Communications had a negative return on equity of 20.81% and a net margin of 36.40%.The firm had revenue of $719.58 million during the quarter, compared to the consensus estimate of $725.80 million. During the same period last year, the company earned $3.47 earnings per share. The company’s revenue was up 3.7% on a year-over-year basis. On average, analysts predict that SBA Communications Corporation will post 11.49 EPS for the current year.

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Friday, May 22nd will be issued a dividend of $1.25 per share. The ex-dividend date is Friday, May 22nd. This represents a $5.00 annualized dividend and a dividend yield of 2.3%. SBA Communications’s dividend payout ratio (DPR) is presently 52.47%.

Analyst Ratings Changes

A number of equities analysts have issued reports on SBAC shares. Sanford C. Bernstein started coverage on SBA Communications in a report on Thursday, March 5th. They issued a “market perform” rating and a $218.00 price objective for the company. Truist Financial upgraded SBA Communications from a “hold” rating to a “buy” rating and increased their price objective for the stock from $193.00 to $247.00 in a report on Wednesday, April 22nd. JPMorgan Chase & Co. decreased their price objective on SBA Communications from $245.00 to $240.00 and set a “neutral” rating for the company in a report on Monday, January 12th. Royal Bank Of Canada increased their price objective on SBA Communications from $215.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, March 2nd. Finally, Morgan Stanley increased their price objective on SBA Communications from $215.00 to $225.00 and gave the stock an “equal weight” rating in a report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, SBA Communications presently has an average rating of “Moderate Buy” and an average price target of $236.47.

About SBA Communications

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.