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

Easterly Investment Partners LLC bought a new stake in SBA Communications Corporation (NASDAQ:SBAC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 21,400 shares of the technology company’s stock, valued at approximately $4,139,000.

A number of other institutional investors have also modified their holdings of SBAC. Jones Financial Companies Lllp increased its holdings 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 purchasing an additional 551 shares during the period. Empowered Funds LLC increased its holdings in shares of SBA Communications by 12.6% in the first quarter. Empowered Funds LLC now owns 2,041 shares of the technology company’s stock valued at $449,000 after purchasing an additional 229 shares during the period. Focus Partners Wealth grew its holdings 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 acquiring an additional 266 shares during the period. Geneos Wealth Management Inc. grew its holdings 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 period. Finally, First Trust Advisors LP grew its holdings 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 acquiring an additional 9,617 shares during the period. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Stock Performance

SBA Communications stock opened at $203.16 on Monday. The firm has a market capitalization 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 fifty-two week low of $162.41 and a fifty-two week high of $243.16. The stock’s fifty day moving average is $204.11 and its two-hundred day moving average is $195.98.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Thursday, February 26th. The technology company reported $3.47 earnings per share for the quarter, beating the consensus estimate of $3.25 by $0.22. SBA Communications had a negative return on equity of 20.90% and a net margin of 35.66%.The company had revenue of $719.58 million for the quarter, compared to analyst estimates of $725.80 million. During the same quarter in the prior year, the company earned $3.47 earnings per share. SBA Communications’s revenue was up 3.7% compared to the same quarter last year. As a group, sell-side analysts forecast that SBA Communications Corporation will post 11.42 EPS for the current fiscal year.

SBA Communications Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Truist Financial reaffirmed a “buy” rating and set a $248.00 price objective (up from $247.00) on shares of SBA Communications in a report on Tuesday, May 5th. KeyCorp upped their price objective on SBA Communications from $235.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Morgan Stanley upped their price objective on SBA Communications from $215.00 to $225.00 and gave the stock an “equal weight” rating in a report on Thursday, April 9th. Scotiabank upped their price objective on SBA Communications from $223.00 to $230.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. Finally, Barclays upped their price objective on SBA Communications from $244.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $237.22.

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.