Moran Wealth Management LLC Buys 46,677 Shares of SBA Communications Corporation $SBAC

Moran Wealth Management LLC grew its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 157.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 76,286 shares of the technology company’s stock after acquiring an additional 46,677 shares during the quarter. Moran Wealth Management LLC’s holdings in SBA Communications were worth $14,756,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Merit Financial Group LLC boosted its position in shares of SBA Communications by 27.7% during the 4th quarter. Merit Financial Group LLC now owns 3,164 shares of the technology company’s stock worth $612,000 after acquiring an additional 687 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in SBA Communications by 23.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,524 shares of the technology company’s stock worth $3,777,000 after purchasing an additional 3,747 shares during the last quarter. CWM LLC boosted its holdings in shares of SBA Communications by 40.7% in the 4th quarter. CWM LLC now owns 5,745 shares of the technology company’s stock valued at $1,111,000 after purchasing an additional 1,661 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of SBA Communications by 40.9% in the 4th quarter. Farther Finance Advisors LLC now owns 641 shares of the technology company’s stock valued at $124,000 after purchasing an additional 186 shares in the last quarter. Finally, Patton Fund Management Inc. bought a new position in shares of SBA Communications in the 4th quarter valued at $226,000. Institutional investors own 97.35% of the company’s stock.

SBA Communications Trading Up 0.6%

Shares of SBAC stock opened at $223.14 on Friday. The firm has a market capitalization of $23.61 billion, a price-to-earnings ratio of 23.41, a PEG ratio of 2.20 and a beta of 0.88. The business’s 50-day moving average price is $194.83 and its 200-day moving average price is $192.51. SBA Communications Corporation has a 12 month low of $162.41 and a 12 month high of $245.16.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Thursday, February 26th. The technology company reported $3.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.25 by $0.22. The company had revenue of $719.58 million during the quarter, compared to the consensus estimate of $725.80 million. SBA Communications had a negative return on equity of 20.81% and a net margin of 36.40%.The firm’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.47 earnings per share. On average, sell-side analysts predict that SBA Communications Corporation will post 12.57 earnings per share for the current fiscal year.

SBA Communications Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were given a $1.25 dividend. This is an increase from SBA Communications’s previous quarterly dividend of $1.11. The ex-dividend date was Friday, March 13th. This represents a $5.00 annualized dividend and a yield of 2.2%. SBA Communications’s dividend payout ratio is currently 52.47%.

Analyst Ratings Changes

A number of research firms have recently commented on SBAC. Sanford C. Bernstein assumed coverage on SBA Communications in a report on Thursday, March 5th. They set a “market perform” rating and a $218.00 price target for the company. Morgan Stanley boosted their target price on SBA Communications from $215.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 9th. Truist Financial assumed coverage on shares of SBA Communications in a research note on Tuesday, March 31st. They issued a “hold” rating and a $193.00 price target on the stock. Scotiabank lowered their price objective on shares of SBA Communications from $233.00 to $223.00 and set a “sector perform” rating for the company in a research report on Monday, March 2nd. Finally, Wells Fargo & Company increased their price objective on shares of SBA Communications from $195.00 to $220.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $233.63.

About SBA Communications

SBA Communications Corporation (NASDAQ: SBAC) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its core business is the leasing of space on communications towers, rooftop sites and other wireless structures to mobile network operators, broadband providers and other wireless service customers. The company also provides site development, construction and ongoing site management services to support the deployment and operation of wireless networks.

In addition to traditional macro towers, SBA offers a range of infrastructure solutions designed for dense urban and suburban markets, including small cells, distributed antenna systems (DAS) and fiber backhaul and transport services.