Procyon Advisors LLC Decreases Holdings in SBA Communications Co. (NASDAQ:SBAC)

Procyon Advisors LLC trimmed its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 5.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,345 shares of the technology company’s stock after selling 186 shares during the period. Procyon Advisors LLC’s holdings in SBA Communications were worth $848,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Nordea Investment Management AB lifted its holdings in SBA Communications by 6.3% during the 4th quarter. Nordea Investment Management AB now owns 272,065 shares of the technology company’s stock worth $68,854,000 after buying an additional 16,244 shares during the last quarter. Natixis Advisors L.P. increased its position in shares of SBA Communications by 18.8% during the third quarter. Natixis Advisors L.P. now owns 36,708 shares of the technology company’s stock worth $7,348,000 after purchasing an additional 5,814 shares in the last quarter. Aurora Investment Counsel increased its position in SBA Communications by 8.3% in the 3rd quarter. Aurora Investment Counsel now owns 6,248 shares of the technology company’s stock valued at $1,251,000 after acquiring an additional 480 shares during the period. Aviva PLC increased its position in SBA Communications by 40.5% in the 3rd quarter. Aviva PLC now owns 95,680 shares of the technology company’s stock valued at $19,152,000 after acquiring an additional 27,599 shares during the period. Finally, NBC Securities Inc. acquired a new position in SBA Communications in the 3rd quarter valued at about $2,601,000. 97.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, Director Mary S. Chan sold 1,977 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total value of $430,966.23. Following the sale, the director now owns 4,622 shares in the company, valued at $1,007,549.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is owned by company insiders.

SBA Communications Trading Up 0.6 %

NASDAQ SBAC traded up $1.31 during trading hours on Thursday, reaching $219.39. The company’s stock had a trading volume of 64,475 shares, compared to its average volume of 1,011,053. The business has a 50-day simple moving average of $217.73 and a 200 day simple moving average of $222.45. SBA Communications Co. has a 52 week low of $185.23 and a 52 week high of $267.42. The stock has a market cap of $23.72 billion, a PE ratio of 47.31, a PEG ratio of 1.31 and a beta of 0.56.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, February 26th. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.36). SBA Communications had a negative return on equity of 9.70% and a net margin of 18.51%. The business had revenue of $675.00 million during the quarter, compared to the consensus estimate of $682.11 million. During the same period in the prior year, the business earned $3.11 EPS. The business’s revenue was down 1.6% on a year-over-year basis. As a group, equities analysts predict that SBA Communications Co. will post 12.6 EPS for the current year.

SBA Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th will be paid a $0.98 dividend. The ex-dividend date of this dividend is Wednesday, March 13th. This represents a $3.92 annualized dividend and a dividend yield of 1.79%. This is a positive change from SBA Communications’s previous quarterly dividend of $0.85. SBA Communications’s dividend payout ratio (DPR) is presently 85.03%.

Wall Street Analysts Forecast Growth

SBAC has been the topic of several recent research reports. Barclays dropped their price target on SBA Communications from $265.00 to $260.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 5th. Bank of America upgraded SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 target price on the stock in a research report on Thursday, March 7th. KeyCorp boosted their price target on SBA Communications from $251.00 to $276.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 6th. Finally, BMO Capital Markets decreased their price target on SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 27th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $271.50.

SBA Communications 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.