Sugarloaf Wealth Management LLC Has $134,000 Position in SBA Communications Co. (NASDAQ:SBAC)

Sugarloaf Wealth Management LLC increased its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 11.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 558 shares of the technology company’s stock after acquiring an additional 58 shares during the quarter. Sugarloaf Wealth Management LLC’s holdings in SBA Communications were worth $134,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of SBAC. Personal CFO Solutions LLC grew its stake in shares of SBA Communications by 6.7% in the 4th quarter. Personal CFO Solutions LLC now owns 1,328 shares of the technology company’s stock valued at $337,000 after buying an additional 83 shares during the period. Nomura Holdings Inc. acquired a new stake in SBA Communications in the fourth quarter valued at approximately $7,422,000. LM Advisors LLC bought a new stake in shares of SBA Communications during the fourth quarter valued at approximately $1,096,000. Pitcairn Co. raised its position in shares of SBA Communications by 13.8% during the fourth quarter. Pitcairn Co. now owns 17,479 shares of the technology company’s stock worth $4,434,000 after purchasing an additional 2,115 shares during the period. Finally, Land & Buildings Investment Management LLC lifted its holdings in shares of SBA Communications by 5.7% in the 4th quarter. Land & Buildings Investment Management LLC now owns 151,505 shares of the technology company’s stock worth $38,435,000 after purchasing an additional 8,128 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total transaction of $71,363.50. Following the sale, the director now directly owns 8,084 shares of the company’s stock, valued at $1,775,084.72. This represents a 0.00 % 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. In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total transaction of $71,363.50. Following the sale, the director now owns 8,084 shares in the company, valued at $1,775,084.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Jeffrey Stoops sold 49,765 shares of SBA Communications stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $222.01, for a total value of $11,048,327.65. Following the completion of the transaction, the chairman now owns 109,583 shares of the company’s stock, valued at approximately $24,328,521.83. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 51,590 shares of company stock valued at $11,483,981. 1.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SBAC. JPMorgan Chase & Co. upped their price objective 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. KeyCorp lifted their price target on SBA Communications from $227.00 to $230.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Wells Fargo & Company lowered SBA Communications from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $230.00 to $220.00 in a report on Monday, July 15th. Royal Bank of Canada raised their target price on SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on SBA Communications from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, SBA Communications presently has a consensus rating of “Moderate Buy” and an average target price of $244.08.

SBA Communications Stock Performance

Shares of NASDAQ:SBAC opened at $238.62 on Wednesday. The company has a market capitalization of $25.64 billion, a P/E ratio of 46.79, a price-to-earnings-growth ratio of 0.73 and a beta of 0.67. The company’s 50-day moving average is $230.36 and its 200 day moving average is $210.87. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $258.76.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, July 29th. The technology company reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.56). The company had revenue of $660.50 million during the quarter, compared to analysts’ expectations of $665.21 million. SBA Communications had a net margin of 19.22% and a negative return on equity of 9.85%. The firm’s revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.24 earnings per share. As a group, research analysts predict that SBA Communications Co. will post 12.52 earnings per share for the current year.

SBA Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Thursday, August 22nd were paid a dividend of $0.98 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $3.92 annualized dividend and a dividend yield of 1.64%. SBA Communications’s payout ratio is 76.86%.

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.