Financial Advocates Investment Management Invests $244,000 in SBA Communications Co. (NASDAQ:SBAC)

Financial Advocates Investment Management acquired a new position in shares of SBA Communications Co. (NASDAQ:SBAC) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,013 shares of the technology company’s stock, valued at approximately $244,000.

Several other institutional investors have also added to or reduced their stakes in SBAC. Thurston Springer Miller Herd & Titak Inc. increased its position in SBA Communications by 10.7% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 527 shares of the technology company’s stock worth $127,000 after buying an additional 51 shares during the period. Oregon Public Employees Retirement Fund grew its stake in shares of SBA Communications by 0.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 9,265 shares of the technology company’s stock valued at $1,819,000 after acquiring an additional 53 shares in the last quarter. Checchi Capital Advisers LLC increased its position in SBA Communications by 4.1% during the second quarter. Checchi Capital Advisers LLC now owns 1,457 shares of the technology company’s stock worth $286,000 after acquiring an additional 57 shares during the period. Industrial Alliance Investment Management Inc. raised its stake in SBA Communications by 3.9% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 1,560 shares of the technology company’s stock worth $338,000 after purchasing an additional 58 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC boosted its holdings in SBA Communications by 11.6% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 558 shares of the technology company’s stock valued at $134,000 after purchasing an additional 58 shares during the period. 97.35% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Donald Day sold 1,500 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $242.86, for a total transaction of $364,290.00. Following the completion of the transaction, the executive vice president now owns 4,998 shares of the company’s stock, valued at approximately $1,213,814.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Donald Day sold 1,500 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $242.86, for a total value of $364,290.00. Following the completion of the sale, the executive vice president now owns 4,998 shares of the company’s stock, valued at approximately $1,213,814.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director George R. Krouse, Jr. sold 325 shares of SBA Communications stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total value of $71,363.50. Following the completion of the transaction, the director now directly owns 8,084 shares in the company, valued at approximately $1,775,084.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.

SBA Communications Trading Down 1.7 %

Shares of SBA Communications stock opened at $225.59 on Monday. The firm’s 50 day moving average is $237.96 and its 200 day moving average is $214.71. The firm has a market capitalization of $24.24 billion, a PE ratio of 35.58, a price-to-earnings-growth ratio of 0.69 and a beta of 0.68. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $258.76.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The company had revenue of $667.60 million for the quarter, compared to the consensus estimate of $669.29 million. During the same period in the previous year, the firm posted $3.34 EPS. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. As a group, research analysts anticipate that SBA Communications Co. will post 12.56 earnings per share for the current year.

SBA Communications Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th will be paid a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date is Thursday, November 14th. SBA Communications’s payout ratio is 61.83%.

Analyst Ratings Changes

Several brokerages have recently commented on SBAC. Morgan Stanley raised their target price on shares of SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a report on Wednesday, September 18th. KeyCorp raised their price objective on SBA Communications from $230.00 to $280.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Raymond James lifted their price objective on SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 29th. Barclays increased their target price on SBA Communications from $236.00 to $256.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $257.23.

SBA Communications Profile

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.