AlphaQuest LLC Acquires 4,730 Shares of SBA Communications Corporation $SBAC

AlphaQuest LLC boosted its holdings in SBA Communications Corporation (NASDAQ:SBAC) by 84.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,303 shares of the technology company’s stock after purchasing an additional 4,730 shares during the quarter. AlphaQuest LLC’s holdings in SBA Communications were worth $1,992,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Jones Financial Companies Lllp raised its position in shares of SBA Communications by 272.8% in the first quarter. Jones Financial Companies Lllp now owns 753 shares of the technology company’s stock valued at $166,000 after buying an additional 551 shares in the last quarter. Empowered Funds LLC increased its stake in SBA Communications by 12.6% during the 1st quarter. Empowered Funds LLC now owns 2,041 shares of the technology company’s stock worth $449,000 after acquiring an additional 229 shares during the period. Focus Partners Wealth increased its stake in SBA Communications by 9.0% during the 1st quarter. Focus Partners Wealth now owns 3,236 shares of the technology company’s stock worth $712,000 after acquiring an additional 266 shares during the period. Geneos Wealth Management Inc. raised its holdings in SBA Communications by 105.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after acquiring an additional 84 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of SBA Communications by 20.0% during the 2nd quarter. Farther Finance Advisors LLC now owns 300 shares of the technology company’s stock valued at $70,000 after acquiring an additional 50 shares during the period. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Trading Down 1.9%

SBAC opened at $184.11 on Friday. The company has a market cap of $19.62 billion, a P/E ratio of 24.00, a PEG ratio of 1.78 and a beta of 0.87. The company’s 50 day moving average is $189.84 and its 200-day moving average is $200.25. SBA Communications Corporation has a 1-year low of $179.89 and a 1-year high of $245.16.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data 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. SBA Communications had a net margin of 29.69% and a negative return on equity of 16.60%. The business had revenue of $732.33 million during the quarter, compared to analysts’ expectations of $715.65 million. During the same period in the prior year, the company earned $3.32 EPS. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, equities analysts forecast that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Thursday, November 13th were paid a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Thursday, November 13th. SBA Communications’s dividend payout ratio is presently 57.89%.

Analyst Upgrades and Downgrades

SBAC has been the topic of a number of recent analyst reports. Citigroup decreased their price target on SBA Communications from $265.00 to $235.00 and set a “buy” rating on the stock in a research report on Thursday, October 16th. TD Cowen reiterated a “buy” rating on shares of SBA Communications in a research note on Tuesday, November 4th. Barclays dropped their target price on shares of SBA Communications from $219.00 to $212.00 and set an “overweight” rating for the company in a research report on Monday, December 1st. Morgan Stanley reduced their price target on shares of SBA Communications from $260.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 16th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of SBA Communications from $245.00 to $240.00 and set a “neutral” rating on the stock in a research note on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $235.18.

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.