Boothbay Fund Management LLC Purchases 23,287 Shares of SBA Communications Corporation $SBAC

Boothbay Fund Management LLC boosted its position in SBA Communications Corporation (NASDAQ:SBAC) by 22.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 129,055 shares of the technology company’s stock after purchasing an additional 23,287 shares during the period. SBA Communications comprises 0.4% of Boothbay Fund Management LLC’s portfolio, making the stock its 12th biggest holding. Boothbay Fund Management LLC owned about 0.12% of SBA Communications worth $24,953,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in SBAC. Quent Capital LLC bought a new position in shares of SBA Communications in the 3rd quarter worth approximately $27,000. Geneos Wealth Management Inc. grew its position in SBA Communications by 105.0% during the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after buying an additional 84 shares during the period. SJS Investment Consulting Inc. bought a new stake in SBA Communications during the third quarter valued at approximately $48,000. Center for Financial Planning Inc. purchased a new stake in SBA Communications during the third quarter valued at approximately $50,000. Finally, Avalon Trust Co bought a new position in SBA Communications in the third quarter worth approximately $58,000. 97.35% of the stock is currently owned by institutional investors.

SBA Communications Price Performance

Shares of NASDAQ SBAC opened at $188.04 on Friday. The firm has a fifty day moving average price of $190.82 and a 200-day moving average price of $193.27. The stock has a market cap of $20.04 billion, a PE ratio of 19.73, a price-to-earnings-growth ratio of 1.86 and a beta of 0.86. SBA Communications Corporation has a 1 year low of $177.49 and a 1 year high of $245.16.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Thursday, February 26th. The technology company reported $3.47 EPS for the quarter, beating the consensus estimate of $3.25 by $0.22. The firm had revenue of $719.58 million for the quarter, compared to the consensus estimate of $725.80 million. SBA Communications had a net margin of 36.40% and a negative return on equity of 20.81%. The company’s revenue was up 3.7% on a year-over-year basis. During the same period last year, the firm earned $3.47 EPS. On average, research analysts expect that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be given a $1.25 dividend. The ex-dividend date is Friday, March 13th. This is a positive change from SBA Communications’s previous quarterly dividend of $1.11. This represents a $5.00 annualized dividend and a dividend yield of 2.7%. SBA Communications’s dividend payout ratio (DPR) is presently 46.59%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SBAC shares. Barclays dropped their price target on shares of SBA Communications from $219.00 to $212.00 and set an “overweight” rating on the stock in a research note on Monday, December 1st. Weiss Ratings restated a “hold (c-)” rating on shares of SBA Communications in a research note on Friday, January 9th. JPMorgan Chase & Co. lowered their target price on SBA Communications from $245.00 to $240.00 and set a “neutral” rating on the stock in a research report on Monday, January 12th. Sanford C. Bernstein started coverage on SBA Communications in a report on Thursday, March 5th. They set a “market perform” rating and a $218.00 price target for the company. Finally, UBS Group reduced their price target on SBA Communications from $275.00 to $260.00 and set a “buy” rating for the company in a research report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, SBA Communications currently has a consensus rating of “Moderate Buy” and a consensus target price of $232.17.

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.