Sumitomo Mitsui Trust Holdings Inc. Sells 4,148 Shares of SBA Communications Co. (NASDAQ:SBAC)

Sumitomo Mitsui Trust Holdings Inc. trimmed its holdings in SBA Communications Co. (NASDAQ:SBAC) by 1.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 225,919 shares of the technology company’s stock after selling 4,148 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in SBA Communications were worth $57,313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in SBAC. Raymond James Trust N.A. lifted its stake in SBA Communications by 19.0% in the first quarter. Raymond James Trust N.A. now owns 1,925 shares of the technology company’s stock valued at $662,000 after buying an additional 307 shares during the period. Vontobel Holding Ltd. increased its stake in shares of SBA Communications by 19.6% in the 1st quarter. Vontobel Holding Ltd. now owns 2,987 shares of the technology company’s stock valued at $1,024,000 after acquiring an additional 489 shares in the last quarter. Prudential PLC bought a new stake in shares of SBA Communications in the 1st quarter valued at $568,000. Sequoia Financial Advisors LLC acquired a new position in shares of SBA Communications during the 1st quarter valued at $234,000. Finally, Zions Bancorporation N.A. boosted its stake in SBA Communications by 157.6% during the first quarter. Zions Bancorporation N.A. now owns 322 shares of the technology company’s stock worth $111,000 after acquiring an additional 197 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on SBAC shares. BMO Capital Markets decreased their price target on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a research note on Tuesday, February 27th. Barclays dropped their price target on SBA Communications from $260.00 to $255.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Bank of America raised SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price objective 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 issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, SBA Communications has a consensus rating of “Buy” and a consensus target price of $268.00.

SBA Communications Trading Down 0.1 %

Shares of SBA Communications stock opened at $195.95 on Friday. The company has a market capitalization of $21.18 billion, a P/E ratio of 42.51, a price-to-earnings-growth ratio of 1.21 and a beta of 0.56. The stock has a fifty day simple moving average of $211.72 and a 200 day simple moving average of $222.32. SBA Communications Co. has a 12-month low of $185.23 and a 12-month high of $266.77.

SBA Communications (NASDAQ:SBAC) last announced 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 analysts’ expectations of $682.11 million. During the same quarter in the prior year, the company earned $3.11 EPS. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, analysts predict that SBA Communications Co. will post 12.61 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 given a dividend of $0.98 per share. The ex-dividend date was Wednesday, March 13th. This represents a $3.92 annualized dividend and a dividend yield of 2.00%. This is a boost from SBA Communications’s previous quarterly dividend of $0.85. SBA Communications’s dividend payout ratio (DPR) is currently 85.03%.

Insider Activity

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 transaction of $430,966.23. Following the sale, the director now directly owns 4,622 shares in the company, valued at $1,007,549.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

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.