Signaturefd LLC Sells 187 Shares of SBA Communications Co. (NASDAQ:SBAC)

Posted by Defense World Staff on Apr 18th, 2023

Signaturefd LLC decreased its stake in shares of SBA Communications Co. (NASDAQ:SBAC – Get Rating) by 24.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 581 shares of the technology company’s stock after selling 187 shares during the period. Signaturefd LLC’s holdings in SBA Communications were worth $163,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Carolinas Wealth Consulting LLC boosted its holdings in SBA Communications by 248.0% during the first quarter. Carolinas Wealth Consulting LLC now owns 87 shares of the technology company’s stock worth $30,000 after purchasing an additional 62 shares during the last quarter. Allworth Financial LP boosted its holdings in SBA Communications by 246.2% during the fourth quarter. Allworth Financial LP now owns 90 shares of the technology company’s stock worth $25,000 after purchasing an additional 64 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in SBA Communications by 71.7% during the third quarter. EverSource Wealth Advisors LLC now owns 91 shares of the technology company’s stock worth $26,000 after purchasing an additional 38 shares during the last quarter. Private Trust Co. NA acquired a new position in SBA Communications during the second quarter worth $30,000. Finally, Whittier Trust Co. lifted its stake in SBA Communications by 131.8% in the third quarter. Whittier Trust Co. now owns 102 shares of the technology company’s stock valued at $29,000 after acquiring an additional 58 shares during the last quarter. Institutional investors own 93.54% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. KeyCorp cut their target price on shares of SBA Communications from $319.00 to $297.00 and set an “overweight” rating for the company in a research note on Wednesday, February 22nd. StockNews.com initiated coverage on shares of SBA Communications in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of SBA Communications from $325.00 to $320.00 in a report on Thursday, February 23rd. Credit Suisse Group decreased their price target on shares of SBA Communications from $346.00 to $330.00 and set an “outperform” rating on the stock in a report on Wednesday, February 22nd. Finally, Moffett Nathanson upgraded shares of SBA Communications from a “market perform” rating to an “outperform” rating and dropped their price target for the stock from $330.00 to $312.00 in a research report on Thursday, March 30th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $330.87.

SBA Communications Stock Up 1.8 %

NASDAQ:SBAC opened at $263.18 on Tuesday. The company has a fifty day moving average of $263.31 and a 200-day moving average of $276.14. The firm has a market capitalization of $28.43 billion, a P/E ratio of 62.51 and a beta of 0.51. SBA Communications Co. has a twelve month low of $236.20 and a twelve month high of $379.99.

SBA Communications (NASDAQ:SBAC – Get Rating) last announced its quarterly earnings results on Tuesday, February 21st. The technology company reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $2.88 by ($1.94). The business had revenue of $686.10 million for the quarter, compared to the consensus estimate of $681.40 million. SBA Communications had a net margin of 17.52% and a negative return on equity of 8.58%. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.81 EPS. On average, analysts anticipate that SBA Communications Co. will post 11.71 EPS for the current fiscal year.

SBA Communications Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 24th. Shareholders of record on Friday, March 10th were paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date was Thursday, March 9th. This is a positive change from SBA Communications’s previous quarterly dividend of $0.71. SBA Communications’s payout ratio is 80.76%.

About SBA Communications

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SBA Communications Corp. is a real estate investment trust, which engages in the provision of wireless communications infrastructures. It operates through the following business segments: Domestic Site Leasing, International Site Leasing, and Site Development. The Domestic Site Leasing segment includes AT&T, Sprint, T-Mobile, and Verizon Wireless.