SBA Communications Corporation $SBAC Shares Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lifted its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 107.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,628 shares of the technology company’s stock after acquiring an additional 14,340 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in SBA Communications were worth $5,342,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CVA Family Office LLC boosted its stake in SBA Communications by 106.3% during the 2nd quarter. CVA Family Office LLC now owns 130 shares of the technology company’s stock valued at $31,000 after purchasing an additional 67 shares in the last quarter. Quent Capital LLC bought a new position in shares of SBA Communications during the 3rd quarter valued at about $27,000. Geneos Wealth Management Inc. boosted its position in shares of SBA Communications by 105.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after purchasing an additional 84 shares in the last quarter. IFP Advisors Inc grew its stake in shares of SBA Communications by 75.9% in the 2nd quarter. IFP Advisors Inc now owns 234 shares of the technology company’s stock worth $55,000 after purchasing an additional 101 shares during the last quarter. Finally, SJS Investment Consulting Inc. bought a new stake in shares of SBA Communications in the 3rd quarter worth approximately $48,000. Institutional investors own 97.35% of the company’s stock.

SBA Communications Trading Up 1.0%

Shares of NASDAQ SBAC opened at $187.16 on Friday. SBA Communications Corporation has a one year low of $179.89 and a one year high of $245.16. The business has a 50-day moving average price of $190.83 and a two-hundred day moving average price of $201.63. The firm has a market capitalization of $19.94 billion, a PE ratio of 24.40, a PEG ratio of 1.76 and a beta of 0.87.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, November 3rd. The technology company reported $3.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.21 by $0.09. The business had revenue of $732.33 million during the quarter, compared to analyst estimates of $715.65 million. SBA Communications had a net margin of 29.69% and a negative return on equity of 16.60%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.32 earnings per share. Research analysts anticipate that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Thursday, November 13th were paid a dividend of $1.11 per share. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.4%. SBA Communications’s dividend payout ratio (DPR) is 57.89%.

Analysts Set New Price Targets

Several research firms have issued reports on SBAC. Wells Fargo & Company decreased their price target on shares of SBA Communications from $215.00 to $205.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 16th. The Goldman Sachs Group reduced their target price on SBA Communications from $250.00 to $220.00 and set a “neutral” rating for the company in a report on Wednesday, October 1st. Barclays dropped their price target on SBA Communications from $219.00 to $212.00 and set an “overweight” rating on the stock in a research note on Monday, December 1st. Scotiabank cut their price objective on SBA Communications from $252.00 to $233.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 14th. Finally, BMO Capital Markets decreased their target price on shares of SBA Communications from $215.00 to $210.00 and set a “market perform” rating for the company in a report on Tuesday, November 4th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $235.18.

SBA Communications Profile

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.