Fidelis Capital Partners LLC Makes New $304,000 Investment in SBA Communications Co. (NASDAQ:SBAC)

Fidelis Capital Partners LLC acquired a new position in shares of SBA Communications Co. (NASDAQ:SBAC) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,198 shares of the technology company’s stock, valued at approximately $304,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Xponance Inc. grew its position in SBA Communications by 3.2% during the 4th quarter. Xponance Inc. now owns 15,992 shares of the technology company’s stock worth $4,057,000 after purchasing an additional 493 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in shares of SBA Communications by 67.9% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 225 shares of the technology company’s stock worth $57,000 after acquiring an additional 91 shares during the period. Daiwa Securities Group Inc. lifted its stake in shares of SBA Communications by 21.2% in the 4th quarter. Daiwa Securities Group Inc. now owns 19,847 shares of the technology company’s stock worth $5,035,000 after acquiring an additional 3,474 shares during the period. United Asset Strategies Inc. lifted its stake in shares of SBA Communications by 4.9% in the 4th quarter. United Asset Strategies Inc. now owns 1,809 shares of the technology company’s stock worth $459,000 after acquiring an additional 84 shares during the period. Finally, SVB Wealth LLC acquired a new stake in shares of SBA Communications in the 4th quarter worth $224,000. 97.35% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at SBA Communications

In other news, Director Mary S. Chan sold 1,977 shares of SBA Communications stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total transaction of $430,966.23. Following the completion of the sale, the director now directly owns 4,622 shares in the company, valued at $1,007,549.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. BMO Capital Markets reduced their target price on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a research note on Tuesday, February 27th. Bank of America upgraded shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 target price for the company in a research note on Thursday, March 7th. Finally, Barclays reduced their price objective on shares of SBA Communications from $260.00 to $255.00 and set an “overweight” rating for the company in a research note on Wednesday. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, SBA Communications has a consensus rating of “Buy” and an average target price of $268.00.

SBA Communications Trading Up 0.1 %

Shares of SBAC opened at $196.06 on Friday. The stock has a market cap of $21.20 billion, a P/E ratio of 42.53, a PEG ratio of 1.20 and a beta of 0.56. The company has a 50-day moving average of $211.29 and a two-hundred day moving average of $222.30. SBA Communications Co. has a 12-month low of $185.23 and a 12-month high of $264.06.

SBA Communications (NASDAQ:SBAC) last announced 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). The business had revenue of $675.00 million for the quarter, compared to analyst estimates of $682.11 million. SBA Communications had a negative return on equity of 9.70% and a net margin of 18.51%. The business’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.11 EPS. As a group, analysts forecast that SBA Communications Co. will post 12.61 EPS for the current fiscal year.

SBA Communications Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.98 per share. The ex-dividend date was Wednesday, March 13th. This is an increase from SBA Communications’s previous quarterly dividend of $0.85. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.00%. SBA Communications’s payout ratio is 85.03%.

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.