Venturi Wealth Management LLC Has $82,000 Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Venturi Wealth Management LLC increased its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 23.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 339 shares of the technology company’s stock after acquiring an additional 65 shares during the period. Venturi Wealth Management LLC’s holdings in SBA Communications were worth $82,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in SBA Communications by 10.7% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 527 shares of the technology company’s stock valued at $127,000 after purchasing an additional 51 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its position in shares of SBA Communications by 0.6% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 9,265 shares of the technology company’s stock worth $1,819,000 after buying an additional 53 shares during the period. Farther Finance Advisors LLC boosted its stake in SBA Communications by 32.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock valued at $52,000 after buying an additional 53 shares in the last quarter. Checchi Capital Advisers LLC grew its position in SBA Communications by 4.1% in the second quarter. Checchi Capital Advisers LLC now owns 1,457 shares of the technology company’s stock valued at $286,000 after acquiring an additional 57 shares during the period. Finally, Industrial Alliance Investment Management Inc. boosted its stake in shares of 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 valued at $338,000 after purchasing an additional 58 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on SBAC shares. Morgan Stanley increased their target price on shares of SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Royal Bank of Canada raised their target price on SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. KeyCorp increased their price target 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. Raymond James upped their price objective on SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 29th. Finally, The Goldman Sachs Group lifted their target price on SBA Communications from $212.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, SBA Communications has a consensus rating of “Moderate Buy” and an average price target of $257.23.

SBA Communications Price Performance

SBA Communications stock opened at $218.47 on Friday. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $258.76. The firm has a market capitalization of $23.49 billion, a price-to-earnings ratio of 34.46, a PEG ratio of 0.74 and a beta of 0.68. The company’s 50 day simple moving average is $237.00 and its 200 day simple moving average is $216.01.

SBA Communications (NASDAQ:SBAC) last announced 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 company 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 quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the business posted $3.34 earnings per share. As a group, analysts predict that SBA Communications Co. will post 12.56 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th will be given a dividend of $0.98 per share. The ex-dividend date is Thursday, November 14th. This represents a $3.92 annualized dividend and a dividend yield of 1.79%. SBA Communications’s dividend payout ratio is currently 61.83%.

Insider Activity at SBA Communications

In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of SBA Communications stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total value of $71,363.50. Following the sale, the director now directly owns 8,084 shares in the company, valued at approximately $1,775,084.72. The trade was a 3.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Donald Day sold 1,500 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 4,998 shares in the company, valued at $1,213,814.28. This trade represents a 23.08 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

About SBA Communications

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.