Creative Planning grew its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 109.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,625 shares of the technology company’s stock after acquiring an additional 2,413 shares during the quarter. Creative Planning’s holdings in SBA Communications were worth $1,115,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Usca Ria LLC bought a new stake in SBA Communications in the 3rd quarter worth approximately $25,000. Advisory Services Network LLC lifted its position in SBA Communications by 65.4% in the 2nd quarter. Advisory Services Network LLC now owns 129 shares of the technology company’s stock worth $29,000 after buying an additional 51 shares during the last quarter. Redhawk Wealth Advisors Inc. bought a new stake in SBA Communications in the 2nd quarter worth approximately $29,000. Certified Advisory Corp bought a new stake in SBA Communications in the 2nd quarter worth approximately $31,000. Finally, Berman Capital Advisors LLC lifted its position in SBA Communications by 103.9% in the 2nd quarter. Berman Capital Advisors LLC now owns 155 shares of the technology company’s stock worth $34,000 after buying an additional 79 shares during the last quarter. Hedge funds and other institutional investors own 93.62% of the company’s stock.
SBAC stock traded up $0.39 during midday trading on Wednesday, hitting $235.36. The stock had a trading volume of 347,645 shares, compared to its average volume of 642,059. The firm has a market cap of $26.63 billion, a price-to-earnings ratio of 30.97, a price-to-earnings-growth ratio of 3.02 and a beta of 0.62. The business has a 50-day moving average of $236.92 and a two-hundred day moving average of $237.79. SBA Communications Co. has a 52-week low of $155.19 and a 52-week high of $270.42.
SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, October 28th. The technology company reported $0.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.97 by ($1.78). The firm had revenue of $486.60 million during the quarter, compared to analysts’ expectations of $497.48 million. SBA Communications had a negative return on equity of 4.16% and a net margin of 6.89%. SBA Communications’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.92 earnings per share. Equities research analysts expect that SBA Communications Co. will post 7.82 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, November 21st will be paid a $0.37 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $1.48 annualized dividend and a yield of 0.63%. SBA Communications’s payout ratio is 19.47%.
Several analysts have weighed in on the company. KeyCorp boosted their price objective on SBA Communications from $259.00 to $292.00 and gave the company an “overweight” rating in a research report on Monday, August 19th. Bank of America reiterated a “neutral” rating and issued a $260.00 price objective (up previously from $245.00) on shares of SBA Communications in a research report on Wednesday, August 14th. TheStreet downgraded SBA Communications from a “b-” rating to a “c” rating in a research report on Monday, October 28th. ValuEngine downgraded SBA Communications from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Zacks Investment Research upgraded SBA Communications from a “sell” rating to a “hold” rating and set a $253.00 price objective for the company in a research report on Saturday, November 2nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. SBA Communications presently has an average rating of “Hold” and an average price target of $248.73.
SBA Communications Profile
SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America. By Building Better Wireless, SBA generates revenue from two primary businesses – site leasing and site development services. The primary focus of the Company is the leasing of antenna space on its multi-tenant communication sites to a variety of wireless service providers under long-term lease contracts.
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