Wilmington Savings Fund Society FSB Acquires 258 Shares of SBA Communications Co. (NASDAQ:SBAC)

Wilmington Savings Fund Society FSB lifted its stake in SBA Communications Co. (NASDAQ:SBAC) by 19.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,573 shares of the technology company’s stock after acquiring an additional 258 shares during the period. Wilmington Savings Fund Society FSB’s holdings in SBA Communications were worth $379,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in SBA Communications by 10.7% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 527 shares of the technology company’s stock worth $127,000 after purchasing an additional 51 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of SBA Communications by 0.6% during the second quarter. Oregon Public Employees Retirement Fund now owns 9,265 shares of the technology company’s stock valued at $1,819,000 after buying an additional 53 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of SBA Communications by 32.5% in the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock worth $52,000 after buying an additional 53 shares in the last quarter. Checchi Capital Advisers LLC boosted its position in shares of SBA Communications by 4.1% in the second quarter. Checchi Capital Advisers LLC now owns 1,457 shares of the technology company’s stock valued at $286,000 after acquiring an additional 57 shares during the period. Finally, Sugarloaf Wealth Management LLC boosted its position in shares of SBA Communications by 11.6% in the third quarter. Sugarloaf Wealth Management LLC now owns 558 shares of the technology company’s stock valued at $134,000 after acquiring an additional 58 shares during the period. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SBAC has been the topic of a number of analyst reports. Barclays increased their target price on shares of SBA Communications from $236.00 to $256.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Wells Fargo & Company increased their price objective on SBA Communications from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Raymond James boosted their target price on SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 29th. StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. Finally, Morgan Stanley lifted their price target on SBA Communications from $232.00 to $252.00 and gave the company an “overweight” rating in a research report on Wednesday, September 18th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $257.23.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, EVP Mark R. Ciarfella sold 3,545 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $224.33, for a total transaction of $795,249.85. Following the completion of the transaction, the executive vice president now owns 33,588 shares of the company’s stock, valued at $7,534,796.04. This represents a 9.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.30% of the stock is currently owned by corporate insiders.

SBA Communications Stock Down 0.9 %

Shares of NASDAQ:SBAC opened at $212.28 on Tuesday. The stock has a market cap of $22.82 billion, a PE ratio of 33.48, a PEG ratio of 0.72 and a beta of 0.67. The company’s fifty day moving average is $228.25 and its 200 day moving average is $220.44. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $256.68.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The company had revenue of $667.60 million during the quarter, compared to the consensus estimate of $669.29 million. During the same period last year, the firm posted $3.34 EPS. The company’s revenue was down 2.2% on a year-over-year basis. Sell-side analysts anticipate that SBA Communications Co. will post 12.56 EPS for the current year.

SBA Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 14th were issued a dividend of $0.98 per share. The ex-dividend date was Thursday, November 14th. This represents a $3.92 dividend on an annualized basis and a yield of 1.85%. SBA Communications’s dividend payout ratio is currently 61.83%.

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.