International Assets Investment Management LLC Sells 2,605 Shares of SBA Communications Co. (NASDAQ:SBAC)

International Assets Investment Management LLC lessened its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 16.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 13,446 shares of the technology company’s stock after selling 2,605 shares during the period. International Assets Investment Management LLC’s holdings in SBA Communications were worth $3,411,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Carolinas Wealth Consulting LLC lifted its position 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 acquiring an additional 62 shares in the last quarter. Resurgent Financial Advisors LLC purchased a new position in shares of SBA Communications in the fourth quarter valued at about $31,000. Ancora Advisors LLC lifted its position 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 acquiring an additional 62 shares in the last quarter. CVA Family Office LLC purchased a new position in shares of SBA Communications in the fourth quarter valued at about $37,000. Finally, Emerald Advisers LLC purchased a new position in shares of SBA Communications in the third quarter valued at about $31,000. Institutional investors own 97.35% of the company’s stock.

Insider Activity

In other news, Director Mary S. Chan sold 1,977 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $217.99, for a total transaction of $430,966.23. Following the completion of the sale, the director now owns 4,622 shares in the company, valued at approximately $1,007,549.78. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.60% of the company’s stock.

SBA Communications Stock Up 0.6 %

SBA Communications stock opened at $196.22 on Thursday. The business has a fifty day moving average of $212.12 and a two-hundred day moving average of $222.50. The firm has a market cap of $21.21 billion, a P/E ratio of 42.56, a P/E/G ratio of 1.22 and a beta of 0.56. SBA Communications Co. has a twelve month low of $185.23 and a twelve month high of $266.77.

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

SBA Communications Increases Dividend

The firm also recently disclosed 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. This represents a $3.92 annualized dividend and a dividend yield of 2.00%. The ex-dividend date was Wednesday, March 13th. This is a positive change from SBA Communications’s previous quarterly dividend of $0.85. SBA Communications’s dividend payout ratio is currently 85.03%.

Analysts Set New Price Targets

Several brokerages have recently commented on SBAC. Bank of America upgraded SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price objective on the stock in a research report on Thursday, March 7th. BMO Capital Markets decreased their price objective on SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 27th. Finally, Barclays cut their target price on SBA Communications from $260.00 to $255.00 and set an “overweight” rating on the stock in a research note on Wednesday. One investment 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. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $268.00.

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.