Summit Trail Advisors LLC Boosts Holdings in SBA Communications Co. (NASDAQ:SBAC)

Summit Trail Advisors LLC grew its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 5.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,423 shares of the technology company’s stock after purchasing an additional 299 shares during the period. Summit Trail Advisors LLC’s holdings in SBA Communications were worth $1,305,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in SBAC. Ashton Thomas Securities LLC bought a new stake in shares of SBA Communications in the third quarter worth $26,000. Capital Performance Advisors LLP bought a new stake in shares of SBA Communications in the third quarter worth $35,000. Ridgewood Investments LLC bought a new stake in shares of SBA Communications in the second quarter worth $32,000. Family Firm Inc. acquired a new position in SBA Communications in the second quarter worth $36,000. Finally, Friedenthal Financial acquired a new position in SBA Communications in the third quarter worth $50,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Price Performance

SBA Communications stock opened at $220.66 on Monday. The stock has a fifty day moving average price of $234.22 and a two-hundred day moving average price of $217.46. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $258.76. The firm has a market capitalization of $23.73 billion, a P/E ratio of 34.80, a P/E/G ratio of 0.75 and a beta of 0.68.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.77). The business had revenue of $667.60 million for the quarter, compared to the consensus estimate of $669.29 million. SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. SBA Communications’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.34 EPS. On average, equities research analysts predict that SBA Communications Co. will post 12.56 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 14th will be given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Thursday, November 14th. SBA Communications’s payout ratio is 61.83%.

Insider Activity

In other news, EVP Donald Day sold 1,500 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $242.86, for a total value of $364,290.00. Following the completion of the sale, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at $1,213,814.28. This represents a 23.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. KeyCorp lifted their price objective on shares of SBA Communications from $230.00 to $280.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. The Goldman Sachs Group lifted their price objective on shares of SBA Communications from $212.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Wells Fargo & Company lifted their price objective on shares of SBA Communications from $220.00 to $240.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Finally, Barclays boosted their price target on shares of SBA Communications from $236.00 to $256.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.