Schwartz Investment Counsel Inc. Has $31.72 Million Position in SBA Communications Corporation $SBAC

Schwartz Investment Counsel Inc. reduced its holdings in SBA Communications Corporation (NASDAQ:SBAC) by 21.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 164,000 shares of the technology company’s stock after selling 45,000 shares during the quarter. Schwartz Investment Counsel Inc. owned about 0.15% of SBA Communications worth $31,723,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Elevation Wealth Partners LLC lifted its stake in shares of SBA Communications by 523.8% in the fourth quarter. Elevation Wealth Partners LLC now owns 131 shares of the technology company’s stock valued at $25,000 after buying an additional 110 shares during the period. Quent Capital LLC bought a new stake in shares of SBA Communications in the third quarter valued at about $27,000. Geneos Wealth Management Inc. lifted its stake in shares of SBA Communications by 105.0% in the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after buying an additional 84 shares during the period. Fulcrum Asset Management LLP bought a new stake in shares of SBA Communications in the third quarter valued at about $32,000. Finally, High Point Wealth Management LLC bought a new stake in shares of SBA Communications in the fourth quarter valued at about $39,000. 97.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Truist Financial reiterated a “buy” rating and issued a $248.00 target price (up from $247.00) on shares of SBA Communications in a research note on Tuesday, May 5th. Weiss Ratings upgraded shares of SBA Communications from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, April 22nd. Sanford C. Bernstein assumed coverage on shares of SBA Communications in a research note on Thursday, March 5th. They issued a “market perform” rating and a $218.00 target price for the company. Morgan Stanley increased their target price on shares of SBA Communications from $215.00 to $225.00 and gave the company an “equal weight” rating in a research note on Thursday, April 9th. Finally, UBS Group reduced their target price on shares of SBA Communications from $275.00 to $260.00 and set a “buy” rating for the company in a research note on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $237.74.

SBA Communications Stock Down 1.7%

Shares of SBAC opened at $213.61 on Wednesday. The stock has a market cap of $22.60 billion, a price-to-earnings ratio of 22.49, a P/E/G ratio of 2.17 and a beta of 1.03. SBA Communications Corporation has a 12 month low of $162.41 and a 12 month high of $243.16. The company has a 50-day moving average price of $200.87 and a two-hundred day moving average price of $195.13.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results on Thursday, February 26th. The technology company reported $3.47 EPS for the quarter, topping analysts’ consensus estimates of $3.25 by $0.22. The firm had revenue of $719.58 million during the quarter, compared to analysts’ expectations of $725.80 million. SBA Communications had a net margin of 35.66% and a negative return on equity of 20.90%. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter last year, the company earned $3.47 earnings per share. Equities research analysts expect that SBA Communications Corporation will post 11.42 EPS for the current fiscal year.

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Friday, May 22nd will be paid a dividend of $1.25 per share. The ex-dividend date is Friday, May 22nd. This represents a $5.00 dividend on an annualized basis and a yield of 2.3%. SBA Communications’s dividend payout ratio (DPR) is currently 52.63%.

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.