Leonteq Securities AG Takes Position in SBA Communications Corporation $SBAC

Leonteq Securities AG purchased a new stake in shares of SBA Communications Corporation (NASDAQ:SBAC) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,746 shares of the technology company’s stock, valued at approximately $531,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of SBAC. Jones Financial Companies Lllp raised its holdings in SBA Communications by 272.8% during the 1st quarter. Jones Financial Companies Lllp now owns 753 shares of the technology company’s stock valued at $166,000 after buying an additional 551 shares during the period. Empowered Funds LLC raised its holdings in SBA Communications by 12.6% during the 1st quarter. Empowered Funds LLC now owns 2,041 shares of the technology company’s stock valued at $449,000 after buying an additional 229 shares during the period. Focus Partners Wealth raised its holdings in SBA Communications by 9.0% during the 1st quarter. Focus Partners Wealth now owns 3,236 shares of the technology company’s stock valued at $712,000 after buying an additional 266 shares during the period. Geneos Wealth Management Inc. raised its holdings in SBA Communications by 105.0% during the 1st 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. Finally, First Trust Advisors LP raised its holdings in SBA Communications by 11.3% during the 2nd quarter. First Trust Advisors LP now owns 94,692 shares of the technology company’s stock valued at $22,238,000 after buying an additional 9,617 shares during the period. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Down 1.2%

SBAC stock opened at $205.57 on Friday. The business’s fifty day simple moving average is $202.42 and its two-hundred day simple moving average is $195.74. SBA Communications Corporation has a twelve month low of $162.41 and a twelve month high of $243.16. The firm has a market cap of $21.80 billion, a price-to-earnings ratio of 21.64, a PEG ratio of 2.08 and a beta of 1.03.

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

SBA Communications Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Friday, May 22nd will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.4%. SBA Communications’s dividend payout ratio is presently 52.63%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. KeyCorp increased their price target on SBA Communications from $235.00 to $250.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Sanford C. Bernstein assumed coverage on SBA Communications in a report on Thursday, March 5th. They set a “market perform” rating and a $218.00 price target on the stock. Scotiabank increased their price target on SBA Communications from $223.00 to $230.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. Royal Bank Of Canada increased their price target on SBA Communications from $215.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, March 2nd. Finally, Barclays increased their price target on SBA Communications from $244.00 to $245.00 and gave the company an “overweight” rating in a report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $237.22.

SBA Communications 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.