142,738 Shares in SBA Communications Corporation $SBAC Bought by Engineers Gate Manager LP

Engineers Gate Manager LP purchased a new stake in shares of SBA Communications Corporation (NASDAQ:SBAC) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 142,738 shares of the technology company’s stock, valued at approximately $33,521,000. Engineers Gate Manager LP owned approximately 0.13% of SBA Communications as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. CVA Family Office LLC raised its position in shares of SBA Communications by 106.3% during the 2nd quarter. CVA Family Office LLC now owns 130 shares of the technology company’s stock valued at $31,000 after buying an additional 67 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in SBA Communications by 105.0% during the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after acquiring an additional 84 shares during the last quarter. Summit Securities Group LLC purchased a new stake in SBA Communications during the first quarter valued at approximately $47,000. IFP Advisors Inc lifted its stake in shares of SBA Communications by 75.9% in the 2nd quarter. IFP Advisors Inc now owns 234 shares of the technology company’s stock valued at $55,000 after purchasing an additional 101 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of SBA Communications by 67.9% in the 2nd quarter. Allworth Financial LP now owns 272 shares of the technology company’s stock worth $64,000 after purchasing an additional 110 shares during the period. 97.35% of the stock is owned by hedge funds and other institutional investors.

SBA Communications Price Performance

SBAC stock opened at $191.66 on Friday. SBA Communications Corporation has a 12 month low of $185.13 and a 12 month high of $245.16. The firm’s 50-day moving average is $193.60 and its 200 day moving average is $210.40. The company has a market capitalization of $20.42 billion, a PE ratio of 24.99, a P/E/G ratio of 1.67 and a beta of 0.87.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, November 3rd. The technology company reported $3.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.21 by $0.09. The company had revenue of $732.33 million during the quarter, compared to analysts’ expectations of $715.65 million. SBA Communications had a net margin of 29.69% and a negative return on equity of 16.60%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the company earned $3.32 EPS. Sell-side analysts forecast that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Thursday, November 13th were paid a $1.11 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $4.44 annualized dividend and a yield of 2.3%. SBA Communications’s dividend payout ratio is 57.89%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. BMO Capital Markets decreased their price target on SBA Communications from $215.00 to $210.00 and set a “market perform” rating on the stock in a report on Tuesday, November 4th. Barclays reduced their target price on shares of SBA Communications from $219.00 to $212.00 and set an “overweight” rating on the stock in a research note on Monday, December 1st. Citigroup dropped their price target on shares of SBA Communications from $265.00 to $235.00 and set a “buy” rating for the company in a research note on Thursday, October 16th. KeyCorp cut their price target on shares of SBA Communications from $280.00 to $235.00 and set an “overweight” rating on the stock in a report on Wednesday, September 17th. Finally, Morgan Stanley decreased their price objective on shares of SBA Communications from $260.00 to $220.00 and set an “equal weight” rating for the company in a research note on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $237.63.

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.