Three Seasons Wealth LLC Takes $837,000 Position in SBA Communications Corporation $SBAC

Three Seasons Wealth LLC purchased a new stake in shares of SBA Communications Corporation (NASDAQ:SBAC) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,744 shares of the technology company’s stock, valued at approximately $837,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in SBA Communications by 5.7% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 267,659 shares of the technology company’s stock worth $46,067,000 after acquiring an additional 14,317 shares during the period. Morningstar Investment Management LLC bought a new position in shares of SBA Communications in the fourth quarter worth $1,807,000. Plato Investment Management Ltd acquired a new position in shares of SBA Communications during the second quarter valued at $1,011,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of SBA Communications by 6.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 226,271 shares of the technology company’s stock valued at $43,553,000 after purchasing an additional 13,383 shares during the period. Finally, Delta Global Management LP bought a new stake in shares of SBA Communications during the first quarter valued at about $2,162,000. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SBAC shares. Morgan Stanley reduced their price objective on shares of SBA Communications from $225.00 to $215.00 and set an “equal weight” rating for the company in a report on Tuesday, August 4th. UBS Group cut shares of SBA Communications from a “market perform” rating to a “hold” rating in a research note on Monday, August 24th. Royal Bank Of Canada dropped their price target on shares of SBA Communications from $245.00 to $210.00 and set an “outperform” rating on the stock in a research report on Friday, July 10th. Truist Financial decreased their price objective on shares of SBA Communications from $248.00 to $238.00 and set a “buy” rating for the company in a report on Wednesday, August 5th. Finally, Wells Fargo & Company upgraded shares of SBA Communications from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $220.00 to $210.00 in a research note on Friday, July 17th. Seven analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $225.53.

Insider Activity

In other news, Director George R. Krouse, Jr. sold 300 shares of SBA Communications stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $182.67, for a total value of $54,801.00. Following the transaction, the director owned 8,512 shares of the company’s stock, valued at $1,554,887.04. The trade was a 3.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 9.50% of the stock is owned by corporate insiders.

SBA Communications Stock Down 1.1%

Shares of SBA Communications stock opened at $189.44 on Friday. The firm has a market cap of $20.10 billion, a price-to-earnings ratio of 20.41, a price-to-earnings-growth ratio of 1.91 and a beta of 0.99. The business has a fifty day simple moving average of $183.19 and a 200-day simple moving average of $194.18. SBA Communications Corporation has a fifty-two week low of $162.41 and a fifty-two week high of $224.46.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, August 3rd. The technology company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.02. The business had revenue of $715.27 million during the quarter, compared to analysts’ expectations of $706.01 million. SBA Communications had a negative return on equity of 20.67% and a net margin of 34.51%.The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the business posted $3.17 earnings per share. Analysts anticipate that SBA Communications Corporation will post 11.41 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Thursday, August 20th will be given a dividend of $1.25 per share. The ex-dividend date is Thursday, August 20th. This represents a $5.00 annualized dividend and a dividend yield of 2.6%. SBA Communications’s dividend payout ratio (DPR) is 53.88%.

SBA Communications Profile

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.