Leonteq Securities AG Invests $531,000 in SBA Communications Corporation $SBAC

Leonteq Securities AG purchased a new position in shares of SBA Communications Corporation (NASDAQ:SBAC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,746 shares of the technology company’s stock, valued at approximately $531,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Elevation Wealth Partners LLC grew its position in shares of SBA Communications by 523.8% during the 4th quarter. Elevation Wealth Partners LLC now owns 131 shares of the technology company’s stock worth $25,000 after buying an additional 110 shares in the last quarter. Geneos Wealth Management Inc. grew its position in shares of SBA Communications by 105.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after buying an additional 84 shares in the last quarter. Fulcrum Asset Management LLP bought a new position in shares of SBA Communications during the 3rd quarter worth $32,000. High Point Wealth Management LLC bought a new position in shares of SBA Communications during the 4th quarter worth $39,000. Finally, Stance Capital LLC bought a new position in shares of SBA Communications during the 3rd quarter worth $45,000. Institutional investors own 97.35% of the company’s stock.

SBA Communications Price Performance

Shares of SBAC stock opened at $205.57 on Friday. SBA Communications Corporation has a 1-year low of $162.41 and a 1-year high of $243.16. The stock’s 50-day moving average is $202.42 and its 200 day moving average is $195.74. The company has a market cap of $21.80 billion, a P/E ratio of 21.64, a PEG ratio of 2.08 and a beta of 1.03.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Thursday, February 26th. The technology company reported $3.47 earnings per share for the quarter, beating analysts’ consensus estimates of $3.25 by $0.22. SBA Communications had a negative return on equity of 20.90% and a net margin of 35.66%.The company had revenue of $719.58 million for the quarter, compared to the consensus estimate of $725.80 million. During the same quarter last year, the company earned $3.47 earnings per share. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, analysts anticipate that SBA Communications Corporation will post 11.42 EPS for the current year.

SBA Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Friday, May 22nd will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, May 22nd. SBA Communications’s dividend payout ratio (DPR) is currently 52.63%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SBAC. Truist Financial reissued a “buy” rating and set a $248.00 price target (up from $247.00) on shares of SBA Communications in a research report on Tuesday, May 5th. Wells Fargo & Company raised their price objective on SBA Communications from $195.00 to $220.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 7th. KeyCorp raised their price objective on SBA Communications from $235.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Morgan Stanley raised their price objective on SBA Communications from $215.00 to $225.00 and gave the company an “equal weight” rating in a research report on Thursday, April 9th. Finally, Royal Bank Of Canada raised their price objective on SBA Communications from $215.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $237.22.

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.