Townsquare Capital LLC Boosts Position in SBA Communications Co. (NASDAQ:SBAC)

Townsquare Capital LLC increased its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 36.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,867 shares of the technology company’s stock after purchasing an additional 496 shares during the quarter. Townsquare Capital LLC’s holdings in SBA Communications were worth $449,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in SBAC. Ashton Thomas Securities LLC acquired a new position in SBA Communications during the third quarter worth approximately $26,000. Capital Performance Advisors LLP acquired a new position in SBA Communications during the third quarter worth approximately $35,000. Ridgewood Investments LLC acquired a new position in SBA Communications during the second quarter worth approximately $32,000. Family Firm Inc. acquired a new position in SBA Communications during the second quarter worth approximately $36,000. Finally, Friedenthal Financial acquired a new position in SBA Communications during the third quarter worth approximately $50,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Insider Buying and Selling

In other news, EVP Donald Day sold 1,500 shares of the business’s stock in a transaction on 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 transaction, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at $1,213,814.28. The trade was a 23.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on the company. The Goldman Sachs Group lifted their price target on SBA Communications from $212.00 to $240.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Barclays boosted their target price on SBA Communications from $236.00 to $256.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft increased their price target on SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Raymond James boosted their price objective on shares of SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, 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 research note on Wednesday, September 18th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $257.23.

SBA Communications Price Performance

SBAC opened at $220.81 on Thursday. The business has a 50 day simple moving average of $231.68 and a 200-day simple moving average of $218.77. The stock has a market capitalization of $23.74 billion, a P/E ratio of 34.83, a P/E/G ratio of 0.75 and a beta of 0.67. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $258.76.

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

SBA Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 14th will be issued a dividend of $0.98 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.92 annualized dividend and a yield of 1.78%. SBA Communications’s dividend payout ratio is presently 61.83%.

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.