Tidal Investments LLC Acquires 233 Shares of SBA Communications Co. (NASDAQ:SBAC)

Tidal Investments LLC grew its holdings in SBA Communications Co. (NASDAQ:SBAC) by 8.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,868 shares of the technology company’s stock after purchasing an additional 233 shares during the period. Tidal Investments LLC’s holdings in SBA Communications were worth $690,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Wilmington Savings Fund Society FSB lifted its position in shares of SBA Communications by 19.6% during the third quarter. Wilmington Savings Fund Society FSB now owns 1,573 shares of the technology company’s stock worth $379,000 after acquiring an additional 258 shares in the last quarter. Sanctuary Advisors LLC lifted its holdings in SBA Communications by 19.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 5,672 shares of the technology company’s stock worth $1,252,000 after purchasing an additional 921 shares in the last quarter. TCW Group Inc. bought a new position in SBA Communications in the 3rd quarter worth about $3,505,000. Toronto Dominion Bank grew its holdings in SBA Communications by 0.7% during the 3rd quarter. Toronto Dominion Bank now owns 64,433 shares of the technology company’s stock valued at $15,509,000 after buying an additional 427 shares in the last quarter. Finally, Coldstream Capital Management Inc. bought a new stake in shares of SBA Communications during the third quarter valued at about $266,000. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Price Performance

Shares of SBAC stock opened at $203.57 on Friday. The business has a 50-day moving average of $225.67 and a 200 day moving average of $220.44. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $256.68. The stock has a market capitalization of $21.89 billion, a PE ratio of 32.11, a P/E/G ratio of 0.72 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data 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 net margin of 25.76% and a negative return on equity of 13.13%. The company had revenue of $667.60 million for the quarter, compared to analysts’ expectations of $669.29 million. During the same period last year, the company posted $3.34 EPS. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. 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 was paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th were paid a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend was Thursday, November 14th. SBA Communications’s dividend payout ratio (DPR) is 61.83%.

Insider Transactions at SBA Communications

In other SBA Communications news, EVP Mark R. Ciarfella sold 3,545 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $224.33, for a total transaction of $795,249.85. Following the completion of the transaction, the executive vice president now owns 33,588 shares of the company’s stock, valued at $7,534,796.04. This represents a 9.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SBAC has been the subject of several recent analyst reports. KeyCorp boosted their price objective on shares of SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. Morgan Stanley lifted their target price on shares of SBA Communications from $232.00 to $252.00 and gave the company an “overweight” rating in a research report on Wednesday, September 18th. BMO Capital Markets restated a “market perform” rating and set a $230.00 price objective (down previously from $260.00) on shares of SBA Communications in a research report on Wednesday. Finally, The Goldman Sachs Group lifted their price objective on shares of SBA Communications from $212.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, SBA Communications has a consensus rating of “Moderate Buy” and an average price target of $254.92.

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.