United Asset Strategies Inc. Raises Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

United Asset Strategies Inc. boosted its holdings in SBA Communications Co. (NASDAQ:SBAC) by 10.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,625 shares of the technology company’s stock after purchasing an additional 242 shares during the period. United Asset Strategies Inc.’s holdings in SBA Communications were worth $632,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in SBA Communications by 0.5% in the first quarter. Vanguard Group Inc. now owns 17,368,209 shares of the technology company’s stock valued at $3,763,691,000 after purchasing an additional 88,339 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in SBA Communications by 13.4% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,973,867 shares of the technology company’s stock worth $387,470,000 after buying an additional 233,179 shares during the last quarter. American Century Companies Inc. lifted its holdings in SBA Communications by 15.5% during the 2nd quarter. American Century Companies Inc. now owns 1,190,288 shares of the technology company’s stock worth $233,654,000 after buying an additional 159,433 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in SBA Communications by 3.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 986,487 shares of the technology company’s stock worth $213,773,000 after buying an additional 33,507 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its holdings in SBA Communications by 34.7% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 792,147 shares of the technology company’s stock worth $155,498,000 after buying an additional 203,938 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Insiders Place Their Bets

In other SBA Communications news, EVP Donald Day sold 1,500 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $242.86, for a total value of $364,290.00. Following the completion of the sale, the executive vice president now owns 4,998 shares of the company’s stock, valued at $1,213,814.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total value of $71,363.50. Following the completion of the sale, the director now owns 8,084 shares of the company’s stock, valued at $1,775,084.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Donald Day sold 1,500 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was 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 of the company’s stock, valued at $1,213,814.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

SBA Communications Stock Performance

SBAC opened at $229.47 on Friday. The stock’s fifty day moving average is $237.99 and its 200-day moving average is $214.27. The company has a market capitalization of $24.66 billion, a PE ratio of 36.19, a P/E/G ratio of 0.70 and a beta of 0.67. SBA Communications Co. has a one year low of $183.64 and a one year high of $258.76.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). The company 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%. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period last year, the firm earned $3.34 earnings per share. On average, equities research analysts forecast that SBA Communications Co. will post 12.52 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 14th will be given a $0.98 dividend. The ex-dividend date is Thursday, November 14th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.71%. SBA Communications’s dividend payout ratio is currently 61.83%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. The Goldman Sachs Group increased their target price on SBA Communications from $212.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Raymond James raised their price target on SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a report on Tuesday. Barclays raised their price target on SBA Communications from $236.00 to $256.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. KeyCorp raised their price target on SBA Communications from $230.00 to $280.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, Morgan Stanley raised their price target on SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a report on Wednesday, September 18th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, SBA Communications currently has an average rating of “Moderate Buy” and a consensus 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.