SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC decreased its position in SBA Communications Co. (NASDAQ:SBAC) by 6.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,898 shares of the technology company’s stock after selling 353 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in SBA Communications were worth $1,179,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SBAC. Victory Capital Management Inc. grew its position in shares of SBA Communications by 2,821.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company’s stock worth $292,714,000 after acquiring an additional 1,174,469 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in SBA Communications by 377.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 886,384 shares of the technology company’s stock worth $213,353,000 after acquiring an additional 700,791 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new position in SBA Communications in the second quarter worth about $134,738,000. Long Pond Capital LP bought a new position in SBA Communications in the second quarter worth about $83,687,000. Finally, AQR Capital Management LLC lifted its holdings in SBA Communications by 500.0% in the second quarter. AQR Capital Management LLC now owns 369,037 shares of the technology company’s stock worth $72,375,000 after acquiring an additional 307,530 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Price Performance

NASDAQ SBAC opened at $214.28 on Friday. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $258.76. The firm has a market capitalization of $23.04 billion, a PE ratio of 33.80, a P/E/G ratio of 0.73 and a beta of 0.67. The company’s 50 day simple moving average is $228.76 and its 200 day simple moving average is $220.07.

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

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 14th were paid a dividend of $0.98 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.83%. SBA Communications’s dividend payout ratio is presently 61.83%.

Analysts Set New Price Targets

A number of brokerages have issued reports on SBAC. Barclays raised their target price on shares of SBA Communications from $236.00 to $256.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Morgan Stanley raised their target price on shares of SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a report on Wednesday, September 18th. The Goldman Sachs Group raised their target price on shares of SBA Communications from $212.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. JPMorgan Chase & Co. raised their target price on shares of SBA Communications from $228.00 to $250.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Finally, Raymond James raised their price target 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. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $257.23.

Insider Activity at SBA Communications

In other SBA Communications news, EVP Mark R. Ciarfella sold 3,545 shares of SBA Communications stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $224.33, for a total value of $795,249.85. Following the transaction, the executive vice president now owns 33,588 shares in the company, valued at approximately $7,534,796.04. The trade was a 9.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.30% of the company’s stock.

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.