Wilmington Savings Fund Society FSB Grows Position in SBA Communications Co. (NASDAQ:SBAC)

Wilmington Savings Fund Society FSB increased its position in SBA Communications Co. (NASDAQ:SBAC) by 19.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,573 shares of the technology company’s stock after purchasing an additional 258 shares during the period. Wilmington Savings Fund Society FSB’s holdings in SBA Communications were worth $379,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in SBAC. Wealth Enhancement Advisory Services LLC lifted its position in SBA Communications by 10.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 4,126 shares of the technology company’s stock valued at $810,000 after acquiring an additional 404 shares during the period. Raymond James & Associates increased its stake in shares of SBA Communications by 11.5% during the second quarter. Raymond James & Associates now owns 106,695 shares of the technology company’s stock valued at $20,944,000 after purchasing an additional 10,995 shares in the last quarter. Stableford Capital II LLC increased its stake in shares of SBA Communications by 52.4% during the second quarter. Stableford Capital II LLC now owns 6,834 shares of the technology company’s stock valued at $1,464,000 after purchasing an additional 2,350 shares in the last quarter. Family Firm Inc. purchased a new position in shares of SBA Communications during the second quarter valued at approximately $36,000. Finally, LRI Investments LLC boosted its position in shares of SBA Communications by 1,709.1% in the 2nd quarter. LRI Investments LLC now owns 1,393 shares of the technology company’s stock worth $273,000 after purchasing an additional 1,316 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.

Insider Activity

In other news, EVP Mark R. Ciarfella sold 3,545 shares of SBA Communications stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $224.33, for a total transaction of $795,249.85. Following the transaction, the executive vice president now directly owns 33,588 shares of the company’s stock, valued at $7,534,796.04. The trade was a 9.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. KeyCorp lifted their price objective on SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Raymond James upped their price target on shares of SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 29th. BMO Capital Markets raised their price objective on shares of SBA Communications from $255.00 to $260.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. Morgan Stanley lifted their target price on shares of SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. increased their price target on shares of SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $257.23.

SBA Communications Price Performance

Shares of SBAC opened at $212.28 on Tuesday. The firm has a market capitalization of $22.82 billion, a P/E ratio of 33.48, a PEG ratio of 0.72 and a beta of 0.67. SBA Communications Co. has a one year low of $183.64 and a one year high of $256.68. The business has a fifty day moving average of $228.25 and a 200 day moving average of $220.44.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). The firm had revenue of $667.60 million for the quarter, compared to the consensus estimate of $669.29 million. SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.34 earnings per share. Analysts expect that SBA Communications Co. will post 12.56 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th were paid a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend was Thursday, November 14th. SBA Communications’s dividend payout ratio is presently 61.83%.

About SBA Communications

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.