Pallas Capital Advisors LLC Takes Position in SBA Communications Co. (NASDAQ:SBAC)

Pallas Capital Advisors LLC acquired a new stake in SBA Communications Co. (NASDAQ:SBAC) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 2,039 shares of the technology company’s stock, valued at approximately $416,000.

Other large investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in SBA Communications during the 3rd quarter worth about $26,000. Capital Performance Advisors LLP acquired a new position in shares of SBA Communications in the third quarter worth approximately $35,000. Friedenthal Financial acquired a new stake in SBA Communications during the 3rd quarter valued at approximately $50,000. Farther Finance Advisors LLC lifted its position in shares of SBA Communications by 32.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock worth $52,000 after purchasing an additional 53 shares during the period. Finally, Eastern Bank bought a new stake in shares of SBA Communications in the 3rd quarter valued at $58,000. Institutional investors own 97.35% of the company’s stock.

Insider Buying and Selling

In other news, EVP Mark R. Ciarfella sold 3,545 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $224.33, for a total transaction of $795,249.85. Following the completion of the sale, the executive vice president now directly owns 33,588 shares of the company’s stock, valued at $7,534,796.04. This trade represents a 9.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Donald Day sold 2,321 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $203.43, for a total transaction of $472,161.03. Following the completion of the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at $1,016,743.14. This trade represents a 31.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

SBA Communications Stock Performance

Shares of SBAC opened at $195.02 on Wednesday. The firm has a market capitalization of $20.97 billion, a P/E ratio of 30.76, a P/E/G ratio of 0.72 and a beta of 0.69. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $252.64. The stock has a 50 day moving average price of $212.49 and a two-hundred day moving average price of $221.36.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.77). SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The company had revenue of $667.60 million for the quarter, compared to the consensus estimate of $669.29 million. During the same quarter last year, the company posted $3.34 EPS. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. On average, equities analysts forecast that SBA Communications Co. will post 12.56 earnings per share for the current year.

SBA Communications Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 14th were given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend was Thursday, November 14th. SBA Communications’s payout ratio is currently 61.83%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. BMO Capital Markets reaffirmed a “market perform” rating and set a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. The Goldman Sachs Group upped their target price on SBA Communications from $212.00 to $240.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. Barclays dropped their price target on SBA Communications from $257.00 to $254.00 and set an “overweight” rating on the stock in a research note on Monday. KeyCorp lifted their price objective on shares of SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, JPMorgan Chase & Co. increased their target price on shares of SBA Communications from $228.00 to $250.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $254.77.

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.