SBA Communications Corporation $SBAC Shares Sold by Hantz Financial Services Inc.

Hantz Financial Services Inc. lowered its holdings in SBA Communications Corporation (NASDAQ:SBAC) by 9.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,024 shares of the technology company’s stock after selling 2,546 shares during the period. Hantz Financial Services Inc.’s holdings in SBA Communications were worth $4,647,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of SBA Communications in the fourth quarter valued at approximately $226,000. Guinness Asset Management LTD grew its holdings in SBA Communications by 58.0% during the 4th quarter. Guinness Asset Management LTD now owns 591 shares of the technology company’s stock worth $114,000 after acquiring an additional 217 shares in the last quarter. Diamond Hill Capital Management Inc. grew its holdings in SBA Communications by 9.7% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 2,034,920 shares of the technology company’s stock worth $393,615,000 after acquiring an additional 179,591 shares in the last quarter. Global Retirement Partners LLC grew its holdings in SBA Communications by 367.9% during the 4th quarter. Global Retirement Partners LLC now owns 1,109 shares of the technology company’s stock worth $215,000 after acquiring an additional 872 shares in the last quarter. Finally, Leonteq Securities AG acquired a new position in SBA Communications during the 4th quarter worth approximately $531,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Stock Performance

Shares of SBA Communications stock opened at $205.57 on Tuesday. The company has a fifty day simple moving average of $202.84 and a 200-day simple moving average of $195.82. The stock has a market cap of $21.80 billion, a price-to-earnings ratio of 21.64, a PEG ratio of 2.05 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.

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 the consensus estimate of $3.25 by $0.22. SBA Communications had a net margin of 35.66% and a negative return on equity of 20.90%. The firm had revenue of $719.58 million for the quarter, compared to analyst estimates of $725.80 million. During the same period last year, the business earned $3.47 EPS. SBA Communications’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, analysts forecast that SBA Communications Corporation will post 11.42 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Friday, May 22nd will be given a $1.25 dividend. 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 52.63%.

Analyst Ratings Changes

SBAC has been the subject of a number of analyst reports. 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. Truist Financial restated a “buy” rating and issued a $248.00 price target (up from $247.00) on shares of SBA Communications in a research note on Tuesday, May 5th. Royal Bank Of Canada lifted their price target on SBA Communications from $215.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, March 2nd. Wells Fargo & Company increased their price objective on SBA Communications from $195.00 to $220.00 and gave the company an “equal weight” rating in a report on Tuesday, April 7th. Finally, Sanford C. Bernstein began coverage on SBA Communications in a research report on Thursday, March 5th. They set a “market perform” rating and a $218.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $237.22.

About SBA Communications

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.