M.D. Sass LLC Has $75.12 Million Holdings in SBA Communications Co. (NASDAQ:SBAC)

M.D. Sass LLC trimmed its position in SBA Communications Co. (NASDAQ:SBAC) by 3.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 312,072 shares of the technology company’s stock after selling 10,434 shares during the period. SBA Communications accounts for 5.6% of M.D. Sass LLC’s investment portfolio, making the stock its 8th biggest position. M.D. Sass LLC’s holdings in SBA Communications were worth $75,116,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. grew its holdings in SBA Communications by 10.7% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 527 shares of the technology company’s stock worth $127,000 after acquiring an additional 51 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in SBA Communications by 0.6% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 9,265 shares of the technology company’s stock valued at $1,819,000 after purchasing an additional 53 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in SBA Communications by 32.5% in the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock worth $52,000 after buying an additional 53 shares during the last quarter. Checchi Capital Advisers LLC lifted its stake in shares of SBA Communications by 4.1% in the second quarter. Checchi Capital Advisers LLC now owns 1,457 shares of the technology company’s stock worth $286,000 after buying an additional 57 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC lifted its position in SBA Communications by 11.6% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 558 shares of the technology company’s stock valued at $134,000 after acquiring an additional 58 shares in the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Trading Up 0.3 %

SBAC stock traded up $0.58 during midday trading on Tuesday, reaching $226.56. The stock had a trading volume of 58,196 shares, compared to its average volume of 919,910. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $258.76. The company has a market cap of $24.36 billion, a price-to-earnings ratio of 35.64, a price-to-earnings-growth ratio of 0.75 and a beta of 0.68. The company’s fifty day simple moving average is $233.84 and its 200 day simple moving average is $217.65.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The company had revenue of $667.60 million during the quarter, compared to analyst estimates of $669.29 million. During the same period in the previous year, the company earned $3.34 EPS. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. Sell-side analysts predict that SBA Communications Co. will post 12.56 EPS for the current year.

SBA Communications Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th will be issued a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend is Thursday, November 14th. SBA Communications’s payout ratio is 61.83%.

Analyst Ratings Changes

Several research firms recently commented on SBAC. KeyCorp lifted their price objective on SBA Communications from $230.00 to $280.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. BMO Capital Markets increased their price objective on shares of SBA Communications from $255.00 to $260.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Raymond James boosted their target price on shares of SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 29th. Wells Fargo & Company boosted their target price on shares of SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. raised their target price on SBA Communications from $228.00 to $250.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $257.23.

Insider Transactions at SBA Communications

In related news, EVP Donald Day sold 1,500 shares of SBA Communications stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $242.86, for a total value of $364,290.00. Following the sale, the executive vice president now directly owns 4,998 shares in the company, valued at $1,213,814.28. The trade was a 23.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.30% of the company’s stock.

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.