Easterly Investment Partners LLC Takes $4.14 Million Position in SBA Communications Corporation $SBAC

Easterly Investment Partners LLC acquired a new stake in SBA Communications Corporation (NASDAQ:SBAC) during the 4th quarter, Holdings Channel.com reports. The firm acquired 21,400 shares of the technology company’s stock, valued at approximately $4,139,000.

Several other institutional investors and hedge funds have also made changes to their positions in SBAC. Jones Financial Companies Lllp lifted its position in shares of SBA Communications by 272.8% in the first quarter. Jones Financial Companies Lllp now owns 753 shares of the technology company’s stock valued at $166,000 after acquiring an additional 551 shares in the last quarter. Empowered Funds LLC lifted its position in SBA Communications by 12.6% during the first quarter. Empowered Funds LLC now owns 2,041 shares of the technology company’s stock worth $449,000 after buying an additional 229 shares during the period. Focus Partners Wealth lifted its position in SBA Communications by 9.0% during the first quarter. Focus Partners Wealth now owns 3,236 shares of the technology company’s stock worth $712,000 after buying an additional 266 shares during the period. Geneos Wealth Management Inc. lifted its position 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 buying an additional 84 shares during the period. Finally, First Trust Advisors LP lifted its position in SBA Communications by 11.3% during the second quarter. First Trust Advisors LP now owns 94,692 shares of the technology company’s stock worth $22,238,000 after buying an additional 9,617 shares during the period. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on SBAC shares. Sanford C. Bernstein started coverage on SBA Communications in a research report on Thursday, March 5th. They set a “market perform” rating and a $218.00 target price on the stock. KeyCorp increased their target price on SBA Communications from $235.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Barclays increased their target price on SBA Communications from $244.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Morgan Stanley increased their target price on SBA Communications from $215.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 9th. Finally, Truist Financial reiterated a “buy” rating and set a $248.00 target price (up from $247.00) on shares of SBA Communications in a research report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $237.22.

SBA Communications Price Performance

SBA Communications stock opened at $203.16 on Monday. The stock’s 50-day moving average is $204.11 and its 200-day moving average is $195.98. The company has a market cap of $21.55 billion, a price-to-earnings ratio of 21.39, a price-to-earnings-growth ratio of 2.03 and a beta of 0.99. SBA Communications Corporation has a 12 month low of $162.41 and a 12 month high of $243.16.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Thursday, February 26th. The technology company reported $3.47 EPS for the quarter, topping analysts’ consensus estimates of $3.25 by $0.22. The company had revenue of $719.58 million for the quarter, compared to the consensus estimate of $725.80 million. SBA Communications had a negative return on equity of 20.90% and a net margin of 35.66%.The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the business posted $3.47 EPS. Research analysts anticipate that SBA Communications Corporation will post 11.42 EPS for the current year.

SBA Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Friday, May 22nd will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Friday, May 22nd. SBA Communications’s dividend payout ratio (DPR) is 52.63%.

SBA Communications Profile

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.