Park Place Capital Corp Has $480,000 Stock Position in SBA Communications Co. (NASDAQ:SBAC)

Park Place Capital Corp lifted its position in SBA Communications Co. (NASDAQ:SBAC) by 247.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,356 shares of the technology company’s stock after buying an additional 1,677 shares during the quarter. Park Place Capital Corp’s holdings in SBA Communications were worth $480,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp lifted its holdings in shares of SBA Communications by 1.8% during the third quarter. State Street Corp now owns 4,643,527 shares of the technology company’s stock worth $1,117,697,000 after buying an additional 81,566 shares during the last quarter. JPMorgan Chase & Co. raised its stake in SBA Communications by 16.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock valued at $1,024,049,000 after purchasing an additional 605,872 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in SBA Communications by 5.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,269,786 shares of the technology company’s stock valued at $305,637,000 after purchasing an additional 62,555 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of SBA Communications by 2,821.5% during the third quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company’s stock valued at $292,714,000 after buying an additional 1,174,469 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of SBA Communications by 377.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 886,384 shares of the technology company’s stock valued at $213,353,000 after buying an additional 700,791 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Mark R. Ciarfella sold 3,545 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $224.33, for a total value of $795,249.85. Following the sale, the executive vice president now directly owns 33,588 shares in the company, valued at $7,534,796.04. This trade represents a 9.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Donald Day sold 2,321 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $203.43, for a total transaction of $472,161.03. Following the transaction, the executive vice president now owns 4,998 shares of the company’s stock, valued at approximately $1,016,743.14. This represents a 31.71 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SBAC shares. BMO Capital Markets reaffirmed a “market perform” rating and issued a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. StockNews.com lowered SBA Communications from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. 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 note on Thursday, September 26th. Wells Fargo & Company increased their price objective on shares of SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Finally, Barclays dropped their price objective on shares of SBA Communications from $257.00 to $254.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, SBA Communications currently has an average rating of “Moderate Buy” and a consensus price target of $254.77.

SBA Communications Price Performance

SBAC stock opened at $200.55 on Wednesday. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $252.64. The stock has a market capitalization of $21.56 billion, a price-to-earnings ratio of 31.65, a P/E/G ratio of 0.73 and a beta of 0.69. The business has a fifty day moving average price of $210.67 and a 200 day moving average price of $221.77.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings data on Monday, October 28th. The technology company reported $2.40 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.77). The company had revenue of $667.60 million during the quarter, compared to analyst estimates of $669.29 million. SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The company’s revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.34 EPS. On average, equities analysts expect that SBA Communications Co. will post 12.57 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th were paid a $0.98 dividend. The ex-dividend date was Thursday, November 14th. This represents a $3.92 annualized dividend and a dividend yield of 1.95%. SBA Communications’s dividend payout ratio (DPR) is currently 61.83%.

About SBA Communications

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.