Pathstone Holdings LLC Has $2.66 Million Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Pathstone Holdings LLC lowered its holdings in SBA Communications Co. (NASDAQ:SBAC) by 2.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,032 shares of the technology company’s stock after selling 222 shares during the quarter. Pathstone Holdings LLC’s holdings in SBA Communications were worth $2,655,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bayesian Capital Management LP acquired a new position in shares of SBA Communications in the 1st quarter worth approximately $715,000. Janus Henderson Group PLC raised its stake in shares of SBA Communications by 1,305.8% during the first quarter. Janus Henderson Group PLC now owns 224,985 shares of the technology company’s stock worth $48,732,000 after buying an additional 208,981 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in SBA Communications by 16.5% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,781 shares of the technology company’s stock worth $356,000 after acquiring an additional 252 shares during the period. California State Teachers Retirement System raised its position in shares of SBA Communications by 1.2% during the 1st quarter. California State Teachers Retirement System now owns 176,380 shares of the technology company’s stock valued at $38,222,000 after acquiring an additional 2,043 shares during the last quarter. Finally, Tidal Investments LLC lifted its stake in shares of SBA Communications by 105.4% in the 1st quarter. Tidal Investments LLC now owns 5,279 shares of the technology company’s stock valued at $1,144,000 after purchasing an additional 2,709 shares during the period. Institutional investors own 97.35% of the company’s stock.

Insider Activity

In related news, EVP Donald Day sold 1,500 shares of SBA Communications stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $242.86, for a total value of $364,290.00. Following the sale, the executive vice president now owns 4,998 shares of the company’s stock, valued at approximately $1,213,814.28. The trade was a 23.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SBAC shares. Barclays lifted their price objective on SBA Communications from $236.00 to $256.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. BMO Capital Markets increased their price target on shares of SBA Communications from $255.00 to $260.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. KeyCorp boosted their price objective on shares of SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Raymond James increased their target price on shares of SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 29th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of SBA Communications from $230.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $257.23.

SBA Communications Trading Up 2.4 %

SBAC opened at $225.98 on Tuesday. The firm’s fifty day simple moving average is $233.84 and its 200 day simple moving average is $217.65. The stock has a market capitalization of $24.30 billion, a P/E ratio of 35.64, a P/E/G ratio of 0.75 and a beta of 0.68. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $258.76.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). The firm had revenue of $667.60 million during the quarter, compared to the consensus estimate of $669.29 million. SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $3.34 earnings per share. On average, equities research analysts predict that SBA Communications Co. will post 12.56 EPS for the current fiscal year.

SBA Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th will be issued a $0.98 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.73%. SBA Communications’s dividend payout ratio (DPR) is presently 61.83%.

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.