SBA Communications Co. (NASDAQ:SBAC) Position Increased by Naviter Wealth LLC

Naviter Wealth LLC boosted its position in SBA Communications Co. (NASDAQ:SBAC) by 52.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,930 shares of the technology company’s stock after purchasing an additional 3,088 shares during the period. Naviter Wealth LLC’s holdings in SBA Communications were worth $2,265,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of SBAC. Nordea Investment Management AB grew its holdings in shares of SBA Communications by 6.3% in the 4th quarter. Nordea Investment Management AB now owns 272,065 shares of the technology company’s stock worth $68,854,000 after acquiring an additional 16,244 shares during the last quarter. Legacy Trust acquired a new stake in SBA Communications during the 4th quarter worth about $3,256,000. Natixis Advisors L.P. lifted its stake in SBA Communications by 18.8% during the third quarter. Natixis Advisors L.P. now owns 36,708 shares of the technology company’s stock valued at $7,348,000 after buying an additional 5,814 shares in the last quarter. Lecap Asset Management Ltd. acquired a new position in shares of SBA Communications in the fourth quarter worth about $2,122,000. Finally, Wakefield Asset Management LLLP increased its position in shares of SBA Communications by 11.0% in the fourth quarter. Wakefield Asset Management LLLP now owns 13,964 shares of the technology company’s stock worth $3,543,000 after acquiring an additional 1,389 shares in the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

SBA Communications Price Performance

Shares of SBAC stock traded up $4.41 on Monday, hitting $200.64. The company’s stock had a trading volume of 292,985 shares, compared to its average volume of 975,297. The stock has a market capitalization of $21.69 billion, a price-to-earnings ratio of 42.57, a P/E/G ratio of 1.21 and a beta of 0.56. SBA Communications Co. has a fifty-two week low of $185.23 and a fifty-two week high of $263.08. The firm’s fifty day moving average price is $210.01 and its 200-day moving average price is $222.85.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, February 26th. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $675.00 million for the quarter, compared to the consensus estimate of $682.11 million. During the same quarter last year, the company posted $3.11 EPS. The business’s revenue was down 1.6% compared to the same quarter last year. Analysts predict that SBA Communications Co. will post 12.61 EPS for the current fiscal year.

SBA Communications Increases Dividend

The firm 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 a positive change 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 1.95%. SBA Communications’s payout ratio is 85.03%.

Insider Transactions at SBA Communications

In other SBA Communications news, Director Mary S. Chan sold 1,977 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was 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 approximately $1,007,549.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently commented on the company. Bank of America raised SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 target price for the company in a research report on Thursday, March 7th. BMO Capital Markets dropped their target price on SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a report on Tuesday, February 27th. Finally, Barclays decreased their price target on shares of SBA Communications from $260.00 to $255.00 and set an “overweight” rating for the company in a report on Wednesday, April 17th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, SBA Communications has a consensus rating of “Buy” and a consensus target price of $268.00.

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.