Farther Finance Advisors LLC Grows Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Farther Finance Advisors LLC grew its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 32.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 216 shares of the technology company’s stock after buying an additional 53 shares during the period. Farther Finance Advisors LLC’s holdings in SBA Communications were worth $52,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in SBAC. Janney Montgomery Scott LLC grew its stake in shares of SBA Communications by 72.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 2,389 shares of the technology company’s stock valued at $518,000 after buying an additional 1,004 shares during the period. Empowered Funds LLC grew its stake in shares of SBA Communications by 28.2% during the 1st quarter. Empowered Funds LLC now owns 1,355 shares of the technology company’s stock valued at $294,000 after buying an additional 298 shares during the period. State Board of Administration of Florida Retirement System grew its stake in shares of SBA Communications by 20.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 136,400 shares of the technology company’s stock valued at $29,558,000 after buying an additional 23,543 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in SBA Communications by 15.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 125,631 shares of the technology company’s stock worth $27,224,000 after purchasing an additional 16,831 shares during the period. Finally, Centersquare Investment Management LLC boosted its position in SBA Communications by 1.9% during the 1st quarter. Centersquare Investment Management LLC now owns 168,379 shares of the technology company’s stock worth $36,488,000 after purchasing an additional 3,087 shares during the period. 97.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at SBA Communications

In related news, Director George R. Krouse, Jr. sold 325 shares of the business’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 completion of the sale, the director now owns 8,084 shares of the company’s stock, valued at $1,775,084.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director George R. Krouse, Jr. sold 325 shares of the business’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 completion of the sale, the director now owns 8,084 shares of the company’s stock, valued at $1,775,084.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Donald Day sold 1,500 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $242.86, for a total transaction of $364,290.00. Following the sale, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at approximately $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

Shares of SBA Communications stock opened at $218.51 on Thursday. The firm has a market cap of $23.49 billion, a PE ratio of 34.79, a price-to-earnings-growth ratio of 0.74 and a beta of 0.68. The firm’s 50-day simple moving average is $237.29 and its 200-day simple moving average is $215.99. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $258.76.

SBA Communications (NASDAQ:SBAC) last issued 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 during the quarter, compared to analyst estimates of $669.29 million. SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter last year, the company posted $3.34 EPS. On average, equities analysts predict that SBA Communications Co. will post 12.56 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 12th. Stockholders of record on Thursday, November 14th will be paid a $0.98 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.79%. SBA Communications’s dividend payout ratio (DPR) is presently 61.83%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Raymond James upped their price target on shares of SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 29th. Royal Bank of Canada upped their price target on shares of SBA Communications from $235.00 to $245.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Wells Fargo & Company upped their price target on shares of SBA Communications from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Barclays upped their price target on shares of SBA Communications from $236.00 to $256.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, StockNews.com raised shares of SBA Communications from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company 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.