Retirement Systems of Alabama Decreases Holdings in SBA Communications Co. (NASDAQ:SBAC)

Retirement Systems of Alabama decreased its stake in SBA Communications Co. (NASDAQ:SBAC) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 89,501 shares of the technology company’s stock after selling 729 shares during the period. Retirement Systems of Alabama owned 0.08% of SBA Communications worth $22,706,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SBAC. Emerald Advisers LLC bought a new stake in SBA Communications in the 3rd quarter valued at about $31,000. CVA Family Office LLC bought a new stake in shares of SBA Communications in the fourth quarter valued at approximately $37,000. Pinnacle Bancorp Inc. raised its position in shares of SBA Communications by 73.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock valued at $40,000 after purchasing an additional 67 shares during the period. Allworth Financial LP lifted its stake in shares of SBA Communications by 37.8% during the 4th quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock valued at $42,000 after buying an additional 45 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC bought a new position in SBA Communications in the 4th quarter worth approximately $43,000. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SBAC shares. BMO Capital Markets lowered their target price on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a report on Tuesday, February 27th. Barclays decreased their price objective on SBA Communications from $260.00 to $255.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 17th. Finally, Bank of America upgraded 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. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, SBA Communications presently has an average rating of “Buy” and an average target price of $268.00.

Insider Activity

In related news, Director Mary S. Chan sold 1,977 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly 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 can be accessed through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

SBA Communications Stock Up 2.9 %

SBA Communications stock opened at $201.89 on Tuesday. The business has a 50-day simple moving average of $209.91 and a 200 day simple moving average of $222.86. SBA Communications Co. has a 52 week low of $185.23 and a 52 week high of $263.08. The stock has a market cap of $21.83 billion, a price-to-earnings ratio of 43.79, a PEG ratio of 1.21 and a beta of 0.56.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, April 29th. The technology company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.21 by $0.21. The company had revenue of $657.86 million during the quarter, compared to analyst estimates of $671.08 million. SBA Communications had a negative return on equity of 9.70% and a net margin of 18.51%. SBA Communications’s revenue was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.13 earnings per share. On average, research analysts anticipate that SBA Communications Co. will post 12.61 earnings per share for the current year.

SBA Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Thursday, May 23rd will be issued a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.94%. SBA Communications’s payout ratio is 85.03%.

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.