Y Intercept Hong Kong Ltd Purchases 14,340 Shares of SBA Communications Corporation $SBAC

Y Intercept Hong Kong Ltd increased its position in SBA Communications Corporation (NASDAQ:SBAC) by 107.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,628 shares of the technology company’s stock after buying an additional 14,340 shares during the period. Y Intercept Hong Kong Ltd’s holdings in SBA Communications were worth $5,342,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in SBAC. CVA Family Office LLC increased its stake in shares of SBA Communications by 106.3% during the 2nd quarter. CVA Family Office LLC now owns 130 shares of the technology company’s stock worth $31,000 after purchasing an additional 67 shares during the last quarter. Quent Capital LLC bought a new stake in SBA Communications in the third quarter worth $27,000. Geneos Wealth Management Inc. increased its position in SBA Communications by 105.0% during the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after buying an additional 84 shares during the last quarter. IFP Advisors Inc increased its position in SBA Communications by 75.9% during the second quarter. IFP Advisors Inc now owns 234 shares of the technology company’s stock worth $55,000 after buying an additional 101 shares during the last quarter. Finally, SJS Investment Consulting Inc. bought a new position in SBA Communications during the third quarter valued at about $48,000. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SBAC has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of SBA Communications in a research note on Friday, January 9th. Citigroup dropped their price target on shares of SBA Communications from $265.00 to $235.00 and set a “buy” rating on the stock in a research report on Thursday, October 16th. BMO Capital Markets decreased their price objective on shares of SBA Communications from $215.00 to $210.00 and set a “market perform” rating for the company in a report on Tuesday, November 4th. Royal Bank Of Canada dropped their target price on shares of SBA Communications from $235.00 to $232.00 and set an “outperform” rating on the stock in a report on Monday, November 10th. Finally, Morgan Stanley cut their target price on shares of SBA Communications from $260.00 to $220.00 and set an “equal weight” rating for the company in a research report on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, SBA Communications presently has an average rating of “Moderate Buy” and a consensus price target of $235.18.

SBA Communications Stock Performance

NASDAQ:SBAC opened at $187.16 on Friday. The firm’s 50-day moving average is $190.83 and its 200-day moving average is $201.63. The company has a market cap of $19.94 billion, a price-to-earnings ratio of 24.40, a PEG ratio of 1.76 and a beta of 0.87. SBA Communications Corporation has a 52-week low of $179.89 and a 52-week high of $245.16.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, November 3rd. The technology company reported $3.30 earnings per share for the quarter, topping analysts’ consensus estimates of $3.21 by $0.09. SBA Communications had a negative return on equity of 16.60% and a net margin of 29.69%.The business had revenue of $732.33 million for the quarter, compared to the consensus estimate of $715.65 million. During the same period last year, the business earned $3.32 earnings per share. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. Equities analysts predict that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Thursday, November 13th were given a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Thursday, November 13th. SBA Communications’s payout ratio is 57.89%.

SBA Communications Company 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.