Circle Wealth Management LLC Has $927,000 Stock Position in SBA Communications Corporation $SBAC

Circle Wealth Management LLC lowered its position in SBA Communications Corporation (NASDAQ:SBAC) by 37.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,794 shares of the technology company’s stock after selling 2,901 shares during the period. Circle Wealth Management LLC’s holdings in SBA Communications were worth $927,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in SBA Communications by 2.3% during the third quarter. Vanguard Group Inc. now owns 18,163,536 shares of the technology company’s stock worth $3,511,920,000 after acquiring an additional 403,285 shares in the last quarter. Dodge & Cox increased its holdings in shares of SBA Communications by 12.3% in the third quarter. Dodge & Cox now owns 9,667,297 shares of the technology company’s stock worth $1,869,172,000 after acquiring an additional 1,058,803 shares in the last quarter. State Street Corp raised its position in shares of SBA Communications by 0.5% during the second quarter. State Street Corp now owns 4,613,181 shares of the technology company’s stock worth $1,083,359,000 after purchasing an additional 24,793 shares during the period. Diamond Hill Capital Management Inc. raised its position in shares of SBA Communications by 24.6% during the third quarter. Diamond Hill Capital Management Inc. now owns 1,855,329 shares of the technology company’s stock worth $358,728,000 after purchasing an additional 366,491 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of SBA Communications by 14.7% during the 3rd quarter. Invesco Ltd. now owns 1,805,376 shares of the technology company’s stock valued at $349,069,000 after purchasing an additional 231,838 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Royal Bank Of Canada boosted their price objective on SBA Communications from $215.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, March 2nd. UBS Group dropped their target price on shares of SBA Communications from $275.00 to $260.00 and set a “buy” rating on the stock in a report on Tuesday, January 20th. Wells Fargo & Company cut their price target on shares of SBA Communications from $205.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Friday, February 27th. Sanford C. Bernstein initiated coverage on shares of SBA Communications in a report on Thursday, March 5th. They issued a “market perform” rating and a $218.00 price target for the company. Finally, JPMorgan Chase & Co. lowered their price objective on shares of SBA Communications from $245.00 to $240.00 and set a “neutral” rating for the company in a research report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $232.17.

SBA Communications Price Performance

SBAC stock opened at $188.04 on Friday. The stock has a market capitalization of $20.04 billion, a P/E ratio of 19.73, a P/E/G ratio of 1.86 and a beta of 0.86. The business has a 50-day moving average of $190.82 and a 200-day moving average of $193.27. SBA Communications Corporation has a fifty-two week low of $177.49 and a fifty-two week high of $245.16.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Thursday, February 26th. The technology company reported $3.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.25 by $0.22. The business had revenue of $719.58 million for the quarter, compared to analyst estimates of $725.80 million. SBA Communications had a negative return on equity of 20.81% and a net margin of 36.40%.SBA Communications’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter last year, the firm earned $3.47 EPS. Equities analysts expect that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.7%. This is a boost from SBA Communications’s previous quarterly dividend of $1.11. The ex-dividend date is Friday, March 13th. SBA Communications’s dividend payout ratio is 46.59%.

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.