Focus Partners Advisor Solutions LLC Has $1.60 Million Stock Position in SBA Communications Corporation $SBAC

Key Points

• Focus Partners Advisor Solutions LLC increased its stake in SBA Communications (SBAC) by 285% in Q3, buying 5,950 shares to hold 8,038 shares valued at about $1.602 million.
• SBA Communications reported Q results that beat EPS estimates ($3.47 vs. $3.25) while revenue slightly missed ($719.6M vs. $725.8M); the company has a market cap of ~$20.85B and a P/E of ~20.5.
• The board raised the quarterly dividend to $1.25 (annualized $5.00) for a ~2.6% yield and a 46.6% payout ratio, while institutional investors own about 97.35% of the stock and analysts' average price target is $232.17 (consensus "Moderate Buy").

Focus Partners Advisor Solutions LLC increased its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 285.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,038 shares of the technology company's stock after buying an additional 5,950 shares during the quarter. Focus Partners Advisor Solutions LLC's holdings in SBA Communications were worth $1,602,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Jones Financial Companies Lllp lifted 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 worth $166,000 after acquiring an additional 551 shares during the last quarter. Empowered Funds LLC boosted its position in 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 buying an additional 229 shares in the last quarter. Focus Partners Wealth increased its holdings in shares of 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 in the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of 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 in the last quarter. Finally, Assetmark Inc. lifted its stake in shares of SBA Communications by 66.9% in the 2nd quarter. Assetmark Inc. now owns 1,197 shares of the technology company's stock valued at $281,000 after acquiring an additional 480 shares during the last quarter. Institutional investors own 97.35% of the company's stock.

SBA Communications Price Performance

Shares of SBA Communications stock opened at $195.69 on Friday. The stock's 50-day moving average is $191.07 and its 200 day moving average is $194.68. SBA Communications Corporation has a one year low of $177.49 and a one year high of $245.16. The firm has a market cap of $20.85 billion, a price-to-earnings ratio of 20.53, a PEG ratio of 1.95 and a beta of 0.86.

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

SBA Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be issued a $1.25 dividend. The ex-dividend date is Friday, March 13th. This is a positive change from SBA Communications's previous quarterly dividend of $1.11. This represents a $5.00 dividend on an annualized basis and a yield of 2.6%. SBA Communications's dividend payout ratio is 46.59%.

Analyst Ratings Changes

SBAC has been the topic of a number of research reports. Barclays reduced their price objective on SBA Communications from $219.00 to $212.00 and set an "overweight" rating on the stock in a research report on Monday, December 1st. Scotiabank lowered their price objective on SBA Communications from $233.00 to $223.00 and set a "sector perform" rating for the company in a research note on Monday. JPMorgan Chase & Co. dropped their price objective on shares of SBA Communications from $245.00 to $240.00 and set a "neutral" rating for the company in a report on Monday, January 12th. Morgan Stanley reduced their target price on shares of SBA Communications from $225.00 to $215.00 and set an "equal weight" rating on the stock in a report on Monday. Finally, Royal Bank Of Canada raised their price target on shares of SBA Communications from $215.00 to $220.00 and gave the company an "outperform" rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $232.17.

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.

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