Three Seasons Wealth LLC Makes New $837,000 Investment in SBA Communications Corporation $SBAC

Three Seasons Wealth LLC bought a new stake in SBA Communications Corporation (NASDAQ:SBAC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,744 shares of the technology company’s stock, valued at approximately $837,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Raiffeisen Bank International AG grew its position in shares of SBA Communications by 184.8% during the second quarter. Raiffeisen Bank International AG now owns 188 shares of the technology company’s stock worth $34,000 after buying an additional 122 shares in the last quarter. Syon Capital LLC raised its holdings in SBA Communications by 46.2% in the second quarter. Syon Capital LLC now owns 3,155 shares of the technology company’s stock valued at $557,000 after acquiring an additional 997 shares in the last quarter. Premier Path Wealth Partners LLC acquired a new stake in SBA Communications in the second quarter valued at $237,000. NEOS Investment Management LLC boosted its stake in SBA Communications by 12.1% during the 2nd quarter. NEOS Investment Management LLC now owns 39,068 shares of the technology company’s stock valued at $6,894,000 after acquiring an additional 4,202 shares during the last quarter. Finally, Nykredit A S bought a new position in SBA Communications during the 2nd quarter valued at $8,623,000. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Stock Down 1.1%

Shares of NASDAQ:SBAC opened at $189.44 on Friday. SBA Communications Corporation has a fifty-two week low of $162.41 and a fifty-two week high of $224.46. The firm has a 50-day simple moving average of $183.19 and a 200 day simple moving average of $194.18. The company has a market cap of $20.10 billion, a PE ratio of 20.41, a P/E/G ratio of 1.91 and a beta of 0.99.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, August 3rd. The technology company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.02. The firm had revenue of $715.27 million for the quarter, compared to analysts’ expectations of $706.01 million. SBA Communications had a net margin of 34.51% and a negative return on equity of 20.67%. SBA Communications’s revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the company posted $3.17 earnings per share. As a group, research analysts forecast that SBA Communications Corporation will post 11.41 EPS for the current fiscal year.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Thursday, August 20th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Thursday, August 20th. SBA Communications’s dividend payout ratio is presently 53.88%.

Insider Buying and Selling

In other SBA Communications news, Director George R. Krouse, Jr. sold 300 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $182.67, for a total value of $54,801.00. Following the sale, the director directly owned 8,512 shares of the company’s stock, valued at $1,554,887.04. This trade represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 9.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. BMO Capital Markets reissued a “market perform” rating on shares of SBA Communications in a research report on Monday, August 24th. The Goldman Sachs Group began coverage on SBA Communications in a research note on Friday, June 26th. They issued a “neutral” rating and a $205.00 price target for the company. Royal Bank Of Canada lowered their price objective on SBA Communications from $245.00 to $210.00 and set an “outperform” rating for the company in a report on Friday, July 10th. Morgan Stanley cut their price objective on SBA Communications from $225.00 to $215.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 4th. Finally, Wells Fargo & Company raised SBA Communications from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $220.00 to $210.00 in a report on Friday, July 17th. Seven equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $225.53.

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.