Callan Family Office LLC Grows Stock Holdings in SBA Communications Corporation (NASDAQ:SBAC)

Key Points

• Callan Family Office LLC increased its holdings in SBA Communications by 519.6%, acquiring an additional 6,807 shares, bringing its total to 8,117 shares valued at approximately $1.79 million.
• SBA Communications reported earnings of $3.17 per share for the last quarter, exceeding the consensus estimate of $3.10, along with revenue of $698.98 million, which was above expectations.
• The company announced a quarterly dividend of $1.11 per share to be paid on September 18th, reflecting a 2.0% dividend yield and a payout ratio of 56.42%.

Callan Family Office LLC increased its holdings in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 519.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,117 shares of the technology company's stock after acquiring an additional 6,807 shares during the period. Callan Family Office LLC's holdings in SBA Communications were worth $1,786,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SBAC. Raymond James Financial Inc. bought a new position in SBA Communications during the fourth quarter valued at $20,765,000. Mariner LLC grew its holdings in SBA Communications by 17.6% during the fourth quarter. Mariner LLC now owns 6,118 shares of the technology company's stock valued at $1,247,000 after purchasing an additional 917 shares during the period. Walleye Capital LLC grew its holdings in SBA Communications by 10.1% during the fourth quarter. Walleye Capital LLC now owns 67,047 shares of the technology company's stock valued at $13,664,000 after purchasing an additional 6,165 shares during the period. Canada Post Corp Registered Pension Plan bought a new position in SBA Communications during the fourth quarter valued at $165,000. Finally, Ontario Teachers Pension Plan Board grew its holdings in SBA Communications by 281.8% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 8,927 shares of the technology company's stock valued at $1,819,000 after purchasing an additional 6,589 shares during the period. 97.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SBAC has been the topic of several recent research reports. Raymond James Financial set a $265.00 target price on SBA Communications and gave the stock a "strong-buy" rating in a research report on Tuesday, August 5th. Scotiabank began coverage on SBA Communications in a research report on Thursday, July 17th. They issued a "sector perform" rating and a $252.00 price objective on the stock. Deutsche Bank Aktiengesellschaft downgraded SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 price target on the stock. in a research report on Tuesday, May 20th. UBS Group raised their price target on SBA Communications from $280.00 to $285.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Finally, Wells Fargo & Company raised their price objective on SBA Communications from $225.00 to $235.00 and gave the company an "equal weight" rating in a research note on Tuesday, August 5th. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $258.25.

SBA Communications Trading Up 1.4%

SBA Communications stock traded up $3.03 during trading hours on Friday, hitting $219.94. 791,328 shares of the stock traded hands, compared to its average volume of 848,663. The firm's 50-day moving average price is $229.43 and its two-hundred day moving average price is $224.10. The company has a market cap of $23.63 billion, a PE ratio of 27.95, a PEG ratio of 2.02 and a beta of 0.77. SBA Communications Corporation has a one year low of $192.55 and a one year high of $252.64.

SBA Communications (NASDAQ:SBAC - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The technology company reported $3.17 earnings per share for the quarter, beating the consensus estimate of $3.10 by $0.07. The business had revenue of $698.98 million for the quarter, compared to analysts' expectations of $670.73 million. SBA Communications had a negative return on equity of 16.83% and a net margin of 31.19%. The business's revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm posted $3.29 EPS. On average, sell-side analysts expect that SBA Communications Corporation will post 12.57 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, August 21st will be given a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Thursday, August 21st. SBA Communications's payout ratio is presently 56.42%.

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.