First Trust Direct Indexing L.P. Increases Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

First Trust Direct Indexing L.P. boosted its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 12.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,948 shares of the technology company’s stock after acquiring an additional 222 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in SBA Communications were worth $469,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SBAC. Ridgewood Investments LLC acquired a new stake in SBA Communications in the 2nd quarter valued at about $32,000. Family Firm Inc. acquired a new stake in shares of SBA Communications during the 2nd quarter worth about $36,000. Global X Japan Co. Ltd. acquired a new stake in shares of SBA Communications during the 2nd quarter worth about $49,000. Friedenthal Financial acquired a new stake in shares of SBA Communications during the 3rd quarter worth about $50,000. Finally, Versant Capital Management Inc raised its position in shares of SBA Communications by 4,500.0% during the 2nd quarter. Versant Capital Management Inc now owns 276 shares of the technology company’s stock worth $54,000 after acquiring an additional 270 shares in the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Stock Down 1.7 %

NASDAQ SBAC opened at $225.59 on Monday. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $258.76. The stock has a market cap of $24.24 billion, a price-to-earnings ratio of 35.58, a price-to-earnings-growth ratio of 0.69 and a beta of 0.68. The business has a fifty day moving average of $237.96 and a 200-day moving average of $214.71.

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

SBA Communications Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 14th will be paid a $0.98 dividend. The ex-dividend date is Thursday, November 14th. This represents a $3.92 annualized dividend and a yield of 1.74%. SBA Communications’s payout ratio is currently 61.83%.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total transaction of $71,363.50. Following the completion of the sale, the director now owns 8,084 shares of the company’s stock, valued at approximately $1,775,084.72. The trade was 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 this hyperlink. In other news, Director George R. Krouse, Jr. sold 325 shares of the company’s stock in a transaction dated 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 sale, the director now owns 8,084 shares of the company’s stock, valued at $1,775,084.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Donald Day sold 1,500 shares of the company’s 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 directly owns 4,998 shares of the company’s stock, valued at $1,213,814.28. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SBAC. Morgan Stanley raised their price target on SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 18th. Deutsche Bank Aktiengesellschaft raised their price target on SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. StockNews.com downgraded SBA Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. TD Cowen lifted their target price on SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Finally, JPMorgan Chase & Co. lifted their target price on SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.