Circle Wealth Management LLC Sells 2,901 Shares of SBA Communications Corporation $SBAC

Circle Wealth Management LLC reduced its holdings in SBA Communications Corporation (NASDAQ:SBAC) by 37.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,794 shares of the technology company’s stock after selling 2,901 shares during the period. Circle Wealth Management LLC’s holdings in SBA Communications were worth $927,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SBAC. Banco Bilbao Vizcaya Argentaria S.A. grew its holdings in shares of SBA Communications by 69.0% in the 3rd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 9,363 shares of the technology company’s stock valued at $1,812,000 after acquiring an additional 3,823 shares in the last quarter. Chiron Capital Management LLC acquired a new stake in shares of SBA Communications in the third quarter valued at about $251,000. Bank of Nova Scotia raised its holdings in SBA Communications by 63.2% during the third quarter. Bank of Nova Scotia now owns 23,487 shares of the technology company’s stock worth $4,541,000 after acquiring an additional 9,095 shares in the last quarter. Boothbay Fund Management LLC boosted its position in SBA Communications by 22.0% during the third quarter. Boothbay Fund Management LLC now owns 129,055 shares of the technology company’s stock valued at $24,953,000 after purchasing an additional 23,287 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its position in SBA Communications by 6.8% during the third quarter. Alliancebernstein L.P. now owns 138,139 shares of the technology company’s stock valued at $26,709,000 after purchasing an additional 8,844 shares during the last quarter. 97.35% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on SBAC. Scotiabank lowered their price target on SBA Communications from $233.00 to $223.00 and set a “sector perform” rating on the stock in a research report on Monday, March 2nd. Morgan Stanley cut their price objective on SBA Communications from $225.00 to $215.00 and set an “equal weight” rating for the company in a report on Monday, March 2nd. Wells Fargo & Company decreased their target price on shares of SBA Communications from $205.00 to $195.00 and set an “equal weight” rating for the company in a research note on Friday, February 27th. JPMorgan Chase & Co. lowered their target price on shares of SBA Communications from $245.00 to $240.00 and set a “neutral” rating on the stock in a report on Monday, January 12th. Finally, Sanford C. Bernstein initiated coverage on shares of SBA Communications in a research report on Thursday, March 5th. They set a “market perform” rating and a $218.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, SBA Communications has an average rating of “Moderate Buy” and a consensus price target of $232.17.

SBA Communications Stock Up 1.8%

NASDAQ:SBAC opened at $188.04 on Friday. SBA Communications Corporation has a 12-month low of $177.49 and a 12-month high of $245.16. The firm has a market capitalization of $20.04 billion, a price-to-earnings ratio of 19.73, a P/E/G ratio of 1.86 and a beta of 0.86. The stock’s 50 day moving average price is $190.82 and its two-hundred day moving average price is $193.27.

SBA Communications (NASDAQ:SBAC) last issued its 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 company had revenue of $719.58 million during the quarter, compared to the consensus estimate of $725.80 million. SBA Communications had a negative return on equity of 20.81% and a net margin of 36.40%.The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the company posted $3.47 EPS. Equities research analysts expect that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.7%. This is a positive change from SBA Communications’s previous quarterly dividend of $1.11. The ex-dividend date of this dividend is Friday, March 13th. SBA Communications’s dividend payout ratio (DPR) is presently 46.59%.

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.