VCI Wealth Management LLC Makes New Investment in SBA Communications Corporation $SBAC

Key Points

• VCI Wealth Management LLC opened a new position in SBA Communications, buying 9,233 shares worth about $1.79 million, and institutional investors now own 97.35% of the company.
• SBA reported Q4 EPS of $3.47, beating the $3.25 consensus while revenue of $719.6 million slightly missed estimates but was up 3.7% year‑over‑year; net margin was 36.4%.
• The company raised its quarterly dividend to $1.25 (annualized $5.00, ~2.2% yield), and Wall Street sentiment is mixed with an average "Hold" rating and a $233.63 price target.

VCI Wealth Management LLC purchased a new position in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 9,233 shares of the technology company's stock, valued at approximately $1,786,000.

A number of other institutional investors have also recently made changes to their positions in the business. Aberdeen Group plc grew its stake in shares of SBA Communications by 12.4% during the fourth quarter. Aberdeen Group plc now owns 202,452 shares of the technology company's stock worth $39,160,000 after acquiring an additional 22,293 shares during the last quarter. Nordea Investment Management AB boosted its stake in SBA Communications by 5.4% in the 4th quarter. Nordea Investment Management AB now owns 1,245,399 shares of the technology company's stock worth $241,234,000 after purchasing an additional 63,323 shares in the last quarter. OFI Invest Asset Management purchased a new stake in SBA Communications during the 4th quarter worth approximately $17,915,000. ProShare Advisors LLC increased its stake in SBA Communications by 27.5% during the 3rd quarter. ProShare Advisors LLC now owns 38,988 shares of the technology company's stock valued at $7,538,000 after purchasing an additional 8,404 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. increased its stake in SBA Communications by 24.6% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,855,329 shares of the technology company's stock valued at $358,728,000 after purchasing an additional 366,491 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company's stock.

SBA Communications Stock Up 0.6%

Shares of NASDAQ:SBAC traded up $1.38 during midday trading on Friday, reaching $223.14. The company's stock had a trading volume of 944,454 shares, compared to its average volume of 1,674,999. The stock has a fifty day moving average of $194.83 and a 200 day moving average of $192.51. SBA Communications Corporation has a twelve month low of $162.41 and a twelve month high of $245.16. The firm has a market capitalization of $23.61 billion, a PE ratio of 23.41, a P/E/G ratio of 2.20 and a beta of 0.88.

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

SBA Communications Increases Dividend

The company 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 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 2.2%. SBA Communications's dividend payout ratio is presently 52.47%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Scotiabank lowered 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 note on Monday, March 2nd. Sanford C. Bernstein started coverage on SBA Communications in a research note on Thursday, March 5th. They issued a "market perform" rating and a $218.00 target price for the company. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of SBA Communications in a research report on Wednesday, April 8th. 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. Finally, Wells Fargo & Company increased their price objective on SBA Communications from $195.00 to $220.00 and gave the company an "equal weight" rating in a report on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $233.63.

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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