SBA Communications Co. (NASDAQ:SBAC) Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lifted its stake in SBA Communications Co. (NASDAQ:SBAC) by 12.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 26,294 shares of the technology company’s stock after purchasing an additional 2,850 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in SBA Communications were worth $6,671,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Carolinas Wealth Consulting LLC increased its holdings in shares of SBA Communications by 248.0% in the first quarter. Carolinas Wealth Consulting LLC now owns 87 shares of the technology company’s stock valued at $30,000 after purchasing an additional 62 shares during the last quarter. Resurgent Financial Advisors LLC acquired a new stake in shares of SBA Communications in the fourth quarter valued at approximately $31,000. Ancora Advisors LLC increased its holdings in shares of SBA Communications by 88.6% in the first quarter. Ancora Advisors LLC now owns 132 shares of the technology company’s stock valued at $37,000 after purchasing an additional 62 shares during the last quarter. CVA Family Office LLC purchased a new position in SBA Communications in the fourth quarter worth approximately $37,000. Finally, Emerald Advisers LLC purchased a new position in SBA Communications in the third quarter worth approximately $31,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Insider Activity at SBA Communications

In related news, Director Mary S. Chan sold 1,977 shares of SBA Communications stock in a transaction 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 completion of the transaction, the director now directly owns 4,622 shares in the company, valued at $1,007,549.78. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.60% of the stock is currently owned by company insiders.

SBA Communications Trading Down 1.6 %

NASDAQ:SBAC opened at $201.84 on Monday. The firm has a market cap of $21.82 billion, a PE ratio of 43.78, a price-to-earnings-growth ratio of 1.23 and a beta of 0.56. The stock has a fifty day moving average price of $213.36 and a 200 day moving average price of $222.71. SBA Communications Co. has a 12-month low of $185.23 and a 12-month high of $267.42.

SBA Communications (NASDAQ:SBAC) last released 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 company had revenue of $675.00 million during the quarter, compared to analysts’ expectations of $682.11 million. SBA Communications had a net margin of 18.51% and a negative return on equity of 9.70%. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the business posted $3.11 earnings per share. Equities analysts forecast that SBA Communications Co. will post 12.6 EPS for the current year.

SBA Communications Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.98 dividend. The ex-dividend date of this dividend 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 yield of 1.94%. SBA Communications’s dividend payout ratio (DPR) is 85.03%.

Wall Street Analyst Weigh In

SBAC has been the subject of several analyst reports. Barclays lowered their price objective on SBA Communications from $265.00 to $260.00 and set an “overweight” rating for the company in a research report on Tuesday, March 5th. BMO Capital Markets lowered their price objective on SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a research report on Tuesday, February 27th. Finally, Bank of America upgraded SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price objective for the company in a research report on Thursday, March 7th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $268.38.

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.