Mutual of America Capital Management LLC Reduces Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Mutual of America Capital Management LLC decreased its holdings in SBA Communications Co. (NASDAQ:SBAC) by 0.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,720 shares of the technology company’s stock after selling 96 shares during the quarter. Mutual of America Capital Management LLC’s holdings in SBA Communications were worth $4,495,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SBAC. Carolinas Wealth Consulting LLC raised its holdings in SBA Communications by 248.0% in the first quarter. Carolinas Wealth Consulting LLC now owns 87 shares of the technology company’s stock worth $30,000 after purchasing an additional 62 shares in the last quarter. Resurgent Financial Advisors LLC bought a new position in SBA Communications in the fourth quarter worth $31,000. Ancora Advisors LLC raised its holdings in SBA Communications by 88.6% in the first quarter. Ancora Advisors LLC now owns 132 shares of the technology company’s stock worth $37,000 after purchasing an additional 62 shares in the last quarter. CVA Family Office LLC bought a new position in SBA Communications in the fourth quarter worth $37,000. Finally, Emerald Advisers LLC bought a new position in SBA Communications in the third quarter worth $31,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Barclays decreased their price objective on SBA Communications from $265.00 to $260.00 and set an “overweight” rating for the company in a report on Tuesday, March 5th. BMO Capital Markets decreased their price objective on SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a 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 target for the company in a report on Thursday, March 7th. 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’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $268.38.

SBA Communications Stock Performance

NASDAQ SBAC opened at $199.86 on Tuesday. SBA Communications Co. has a one year low of $185.23 and a one year high of $266.77. The stock has a 50-day moving average of $213.01 and a 200 day moving average of $222.72. The company has a market capitalization of $21.61 billion, a price-to-earnings ratio of 43.35, a PEG ratio of 1.23 and a beta of 0.56.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data 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 negative return on equity of 9.70% and a net margin of 18.51%. The business had revenue of $675.00 million during the quarter, compared to the consensus estimate of $682.11 million. During the same quarter in the previous year, the business posted $3.11 earnings per share. SBA Communications’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, equities analysts predict that SBA Communications Co. will post 12.6 earnings per share for the current fiscal year.

SBA Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 1.96%. This is an increase from SBA Communications’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Wednesday, March 13th. SBA Communications’s dividend payout ratio (DPR) is presently 85.03%.

Insiders Place Their Bets

In other SBA Communications news, Director Mary S. Chan sold 1,977 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $217.99, for a total value of $430,966.23. Following the transaction, the director now directly 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 is available at the SEC website. Insiders own 1.60% of the company’s stock.

About SBA Communications

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.