SBA Communications Corporation $SBAC Shares Sold by Hantz Financial Services Inc.

Hantz Financial Services Inc. lowered its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC) by 9.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 24,024 shares of the technology company’s stock after selling 2,546 shares during the period. Hantz Financial Services Inc.’s holdings in SBA Communications were worth $4,647,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of SBAC. Aberdeen Group plc boosted its stake in shares of SBA Communications by 12.4% during the fourth quarter. Aberdeen Group plc now owns 202,452 shares of the technology company’s stock worth $39,160,000 after buying an additional 22,293 shares during the period. Nordea Investment Management AB grew its holdings in shares of SBA Communications by 5.4% during the fourth quarter. Nordea Investment Management AB now owns 1,245,399 shares of the technology company’s stock worth $241,234,000 after buying an additional 63,323 shares during the last quarter. OFI Invest Asset Management acquired a new position in SBA Communications in the 4th quarter valued at about $17,915,000. VCI Wealth Management LLC purchased a new stake in SBA Communications during the 4th quarter valued at approximately $1,786,000. Finally, ProShare Advisors LLC raised its stake in SBA Communications by 27.5% during the 3rd quarter. ProShare Advisors LLC now owns 38,988 shares of the technology company’s stock valued at $7,538,000 after acquiring an additional 8,404 shares during the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Royal Bank Of Canada increased their price objective on SBA Communications from $215.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, March 2nd. Truist Financial reiterated a “buy” rating and issued a $248.00 target price (up from $247.00) on shares of SBA Communications in a research note on Tuesday, May 5th. Sanford C. Bernstein assumed coverage on SBA Communications in a research note on Thursday, March 5th. They issued a “market perform” rating and a $218.00 price target on the stock. KeyCorp lifted their price target on SBA Communications from $235.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Finally, Morgan Stanley lifted their price target on SBA Communications from $215.00 to $225.00 and gave the company an “equal weight” rating in a research note on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $237.22.

SBA Communications Price Performance

SBA Communications stock opened at $205.57 on Tuesday. SBA Communications Corporation has a 1-year low of $162.41 and a 1-year high of $243.16. The company has a market cap of $21.80 billion, a PE ratio of 21.64, a price-to-earnings-growth ratio of 2.05 and a beta of 1.03. The stock’s 50 day moving average price is $202.84 and its 200 day moving average price is $195.82.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results on Thursday, February 26th. The technology company reported $3.47 EPS for the quarter, topping the consensus estimate of $3.25 by $0.22. The business had revenue of $719.58 million for the quarter, compared to analyst estimates of $725.80 million. SBA Communications had a negative return on equity of 20.90% and a net margin of 35.66%.The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.47 EPS. On average, equities research analysts anticipate that SBA Communications Corporation will post 11.42 EPS for the current fiscal year.

SBA Communications Dividend Announcement

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

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.