Oak Thistle LLC Reduces Stock Position in SBA Communications Corporation $SBAC

Oak Thistle LLC trimmed its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 39.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,970 shares of the technology company’s stock after selling 4,554 shares during the period. Oak Thistle LLC’s holdings in SBA Communications were worth $1,348,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SBAC. CVA Family Office LLC raised its stake in 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 during the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of SBA Communications by 105.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after buying an additional 84 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of SBA Communications by 75.9% in the second quarter. IFP Advisors Inc now owns 234 shares of the technology company’s stock worth $55,000 after acquiring an additional 101 shares during the period. Allworth Financial LP increased its position in SBA Communications by 67.9% during the second quarter. Allworth Financial LP now owns 272 shares of the technology company’s stock valued at $64,000 after acquiring an additional 110 shares during the last quarter. Finally, CYBER HORNET ETFs LLC bought a new position in SBA Communications in the second quarter valued at about $65,000. Institutional investors own 97.35% of the company’s stock.

Analysts Set New Price Targets

SBAC has been the subject of a number of recent research reports. Cowen restated a “buy” rating on shares of SBA Communications in a research note on Tuesday, November 4th. Weiss Ratings reissued a “hold (c-)” rating on shares of SBA Communications in a report on Tuesday, October 14th. KeyCorp cut their target price on shares of SBA Communications from $280.00 to $235.00 and set an “overweight” rating for the company in a research report on Wednesday, September 17th. Williams Trading set a $237.00 target price on shares of SBA Communications in a report on Tuesday, November 4th. Finally, Royal Bank Of Canada decreased their price target on shares of SBA Communications from $235.00 to $232.00 and set an “outperform” rating on the stock in a research report on Monday, November 10th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $237.00.

SBA Communications Trading Up 0.5%

Shares of NASDAQ:SBAC opened at $190.95 on Thursday. The stock has a 50 day moving average of $193.78 and a 200 day moving average of $209.44. The company has a market cap of $20.35 billion, a PE ratio of 24.90, a price-to-earnings-growth ratio of 1.65 and a beta of 0.87. SBA Communications Corporation has a 12-month low of $185.13 and a 12-month high of $245.16.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, November 3rd. The technology company reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.21 by $0.09. SBA Communications had a net margin of 29.69% and a negative return on equity of 16.60%. The company had revenue of $732.33 million for the quarter, compared to analysts’ expectations of $715.65 million. During the same quarter last year, the business earned $3.32 EPS. The firm’s revenue was up 9.7% compared to the same quarter last year. Equities research analysts predict that SBA Communications Corporation will post 12.57 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

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

SBA Communications Company 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.