Sequoia Financial Advisors LLC Has $1.06 Million Stake in SBA Communications Co. (NASDAQ:SBAC)

Sequoia Financial Advisors LLC grew its stake in SBA Communications Co. (NASDAQ:SBAC) by 38.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,159 shares of the technology company’s stock after purchasing an additional 1,154 shares during the period. Sequoia Financial Advisors LLC’s holdings in SBA Communications were worth $1,055,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of SBAC. Carolinas Wealth Consulting LLC boosted its position in shares of SBA Communications by 248.0% during the 1st quarter. Carolinas Wealth Consulting LLC now owns 87 shares of the technology company’s stock valued at $30,000 after acquiring an additional 62 shares in the last quarter. Emerald Advisers LLC acquired a new stake in shares of SBA Communications during the 3rd quarter valued at about $31,000. Resurgent Financial Advisors LLC acquired a new stake in shares of SBA Communications during the 4th quarter valued at about $31,000. CVA Family Office LLC acquired a new stake in shares of SBA Communications during the 4th quarter valued at about $37,000. Finally, Ancora Advisors LLC boosted its position in shares of SBA Communications by 88.6% during the 1st quarter. Ancora Advisors LLC now owns 132 shares of the technology company’s stock valued at $37,000 after acquiring an additional 62 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SBAC has been the topic of several recent research reports. BMO Capital Markets decreased their target price on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 27th. Barclays dropped their target price on shares of SBA Communications from $265.00 to $260.00 and set an “overweight” rating for the company in a research note on Tuesday, March 5th. Finally, Bank of America raised 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. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $268.38.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, Director Mary S. Chan sold 1,977 shares of the company’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 completion of the sale, the director now owns 4,622 shares of the company’s stock, valued at $1,007,549.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.60% of the company’s stock.

SBA Communications Price Performance

SBAC opened at $201.84 on Monday. The company has a market cap of $21.82 billion, a price-to-earnings ratio of 43.78, a price-to-earnings-growth ratio of 1.23 and a beta of 0.56. The firm has a 50 day simple moving average of $213.36 and a 200 day simple moving average of $222.71. SBA Communications Co. has a fifty-two week low of $185.23 and a fifty-two week high of $267.42.

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

SBA Communications Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Wednesday, March 13th. This is an increase from SBA Communications’s previous quarterly dividend of $0.85. SBA Communications’s dividend payout ratio is presently 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.