Moran Wealth Management LLC Acquires 46,677 Shares of SBA Communications Corporation $SBAC

Key Points

• Moran Wealth Management boosted its stake in SBA Communications by 157.6% in Q4, buying 46,677 shares to hold 76,286 shares valued at about $14.76 million (≈0.07% of the company).
• Q-quarter results: SBA reported $3.47 EPS, beating estimates by $0.22, with revenue of $719.6 million (vs. $725.8M consensus) and revenue up 3.7% year-over-year.
• Dividend raised: SBA lifted its quarterly payout to $1.25 ($5.00 annual), implying a 2.2% yield and a payout ratio of 52.47%.

Moran Wealth Management LLC grew its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 157.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,286 shares of the technology company's stock after buying an additional 46,677 shares during the quarter. Moran Wealth Management LLC owned approximately 0.07% of SBA Communications worth $14,756,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SBAC. Elevation Wealth Partners LLC boosted its position in SBA Communications by 523.8% during the fourth quarter. Elevation Wealth Partners LLC now owns 131 shares of the technology company's stock valued at $25,000 after purchasing an additional 110 shares during the last quarter. Quent Capital LLC bought a new stake in shares of SBA Communications during the 3rd quarter worth approximately $27,000. Fulcrum Asset Management LLP bought a new stake in shares of SBA Communications during the 3rd quarter worth approximately $32,000. Geneos Wealth Management Inc. boosted its holdings in shares of SBA Communications by 105.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company's stock valued at $36,000 after buying an additional 84 shares during the last quarter. Finally, Stance Capital LLC acquired a new stake in shares of SBA Communications in the 3rd quarter valued at approximately $45,000. Institutional investors own 97.35% of the company's stock.

SBA Communications Price Performance

Shares of NASDAQ SBAC opened at $223.14 on Friday. The firm has a market cap of $23.61 billion, a price-to-earnings ratio of 23.41, a P/E/G ratio of 2.20 and a beta of 0.88. The stock's fifty day moving average price is $194.83 and its two-hundred day moving average price is $192.51. SBA Communications Corporation has a one year low of $162.41 and a one year high of $245.16.

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

SBA Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were issued a $1.25 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a $5.00 dividend on an annualized basis and a yield of 2.2%. This is an increase from SBA Communications's previous quarterly dividend of $1.11. SBA Communications's payout ratio is presently 52.47%.

Analyst Ratings Changes

SBAC has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their price target on SBA Communications from $195.00 to $220.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 7th. Barclays raised their price objective on SBA Communications from $212.00 to $244.00 and gave the company an "overweight" rating in a research report on Wednesday. UBS Group dropped their price target on SBA Communications from $275.00 to $260.00 and set a "buy" rating on the stock in a research note on Tuesday, January 20th. Scotiabank reduced their price objective on shares of SBA Communications from $233.00 to $223.00 and set a "sector perform" rating for the company in a research report on Monday, March 2nd. Finally, Royal Bank Of Canada increased their price objective on shares of SBA Communications from $215.00 to $220.00 and gave the company an "outperform" rating in a research report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $233.63.

SBA Communications Company 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.

Want to see what other hedge funds are holding SBAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SBA Communications Corporation (NASDAQ:SBAC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.