SBA Communications Corporation $SBAC Shares Acquired by Headlands Technologies LLC

Key Points

• Headlands Technologies increased its SBA Communications stake by 303.5% in the second quarter, bringing its holdings to 8,728 shares valued at approximately $1.54 million. Institutional investors and hedge funds collectively own 97.35% of SBAC shares.
• Analyst sentiment remains mixed, with seven Buy ratings and nine Hold ratings, resulting in a consensus rating of “Hold” and an average price target of $225.53.
• SBA Communications beat quarterly earnings and revenue expectations, reporting $1.87 EPS and $715.27 million in revenue. The company also declared a quarterly dividend of $1.25 per share, representing a 2.6% annualized yield.

Headlands Technologies LLC lifted its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 303.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,728 shares of the technology company's stock after acquiring an additional 6,565 shares during the period. Headlands Technologies LLC's holdings in SBA Communications were worth $1,540,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SBAC. DV Equities LLC acquired a new stake in SBA Communications during the 4th quarter worth $29,000. Fulcrum Asset Management LLP purchased a new stake in shares of SBA Communications in the third quarter valued at about $32,000. Geneos Wealth Management Inc. raised its holdings in shares of SBA Communications by 105.0% in the first 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. CX Institutional boosted its stake in shares of SBA Communications by 44.2% during the second quarter. CX Institutional now owns 212 shares of the technology company's stock worth $37,000 after buying an additional 65 shares during the period. Finally, Commonwealth Retirement Investments LLC acquired a new stake in shares of SBA Communications during the fourth quarter worth about $39,000. 97.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on SBAC. TD Cowen restated a "buy" rating on shares of SBA Communications in a research report on Tuesday, August 4th. Wolfe Research upgraded SBA Communications from a "hold" rating to an "outperform" rating in a research note on Tuesday, August 4th. Truist Financial dropped their target price on SBA Communications from $248.00 to $238.00 and set a "buy" rating on the stock in a report on Wednesday, August 5th. Barclays cut their price target on SBA Communications from $245.00 to $208.00 and set an "overweight" rating for the company in a research note on Thursday, August 20th. Finally, BMO Capital Markets reaffirmed a "market perform" rating on shares of SBA Communications in a report on Monday, August 24th. Seven investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, SBA Communications currently has an average rating of "Hold" and a consensus target price of $225.53.

SBA Communications Trading Down 0.7%

Shares of SBAC opened at $189.66 on Tuesday. The firm's 50-day moving average is $182.87 and its two-hundred day moving average is $194.38. SBA Communications Corporation has a twelve month low of $162.41 and a twelve month high of $224.46. The firm has a market capitalization of $20.12 billion, a P/E ratio of 20.44, a PEG ratio of 1.91 and a beta of 0.99.

SBA Communications (NASDAQ:SBAC - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The technology company reported $1.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.85 by $0.02. The company had revenue of $715.27 million during the quarter, compared to the consensus estimate of $706.01 million. SBA Communications had a net margin of 34.51% and a negative return on equity of 20.67%. The company's revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the firm earned $3.17 EPS. Analysts predict that SBA Communications Corporation will post 11.41 EPS for the current year.

SBA Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Thursday, August 20th will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $5.00 annualized dividend and a yield of 2.6%. SBA Communications's payout ratio is currently 53.88%.

Insider Buying and Selling

In other SBA Communications news, Director George R. Krouse, Jr. sold 300 shares of the business's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $182.67, for a total transaction of $54,801.00. Following the sale, the director directly owned 8,512 shares in the company, valued at approximately $1,554,887.04. The trade was a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 9.50% of the company's stock.

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.

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