Xponance Inc. Boosts Stake in SBA Communications Co. (NASDAQ:SBAC)

Xponance Inc. increased its stake in SBA Communications Co. (NASDAQ:SBAC) by 3.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,992 shares of the technology company’s stock after purchasing an additional 493 shares during the quarter. Xponance Inc.’s holdings in SBA Communications were worth $4,057,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of SBAC. Nordea Investment Management AB lifted its position in shares of SBA Communications by 6.3% during the 4th quarter. Nordea Investment Management AB now owns 272,065 shares of the technology company’s stock valued at $68,854,000 after buying an additional 16,244 shares in the last quarter. Legacy Trust bought a new stake in SBA Communications during the 4th quarter worth approximately $3,256,000. Natixis Advisors L.P. lifted its holdings in SBA Communications by 18.8% during the third quarter. Natixis Advisors L.P. now owns 36,708 shares of the technology company’s stock valued at $7,348,000 after purchasing an additional 5,814 shares in the last quarter. Lecap Asset Management Ltd. bought a new position in shares of SBA Communications in the fourth quarter worth approximately $2,122,000. Finally, Wakefield Asset Management LLLP increased its stake in shares of SBA Communications by 11.0% in the fourth quarter. Wakefield Asset Management LLLP now owns 13,964 shares of the technology company’s stock worth $3,543,000 after purchasing an additional 1,389 shares in the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Trading Up 0.1 %

Shares of SBAC stock opened at $196.06 on Friday. The stock has a market capitalization of $21.20 billion, a price-to-earnings ratio of 42.53, a price-to-earnings-growth ratio of 1.20 and a beta of 0.56. SBA Communications Co. has a 12-month low of $185.23 and a 12-month high of $264.06. The stock’s 50-day moving average price is $211.29 and its 200-day moving average price is $222.53.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data 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 firm had revenue of $675.00 million during the quarter, compared to the consensus estimate of $682.11 million. SBA Communications had a negative return on equity of 9.70% and a net margin of 18.51%. The business’s revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.11 EPS. As a group, research analysts predict that SBA Communications Co. will post 12.61 EPS for the current fiscal year.

SBA Communications Increases Dividend

The firm also recently disclosed 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 yield of 2.00%. This is a positive change from SBA Communications’s previous quarterly dividend of $0.85. SBA Communications’s dividend payout ratio (DPR) is 85.03%.

Insider Buying and Selling at SBA Communications

In other news, Director Mary S. Chan sold 1,977 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total value of $430,966.23. Following the sale, the director now directly owns 4,622 shares in the company, valued at approximately $1,007,549.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SBAC shares. BMO Capital Markets lowered 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 note on Tuesday, February 27th. Bank of America raised SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price target on the stock in a report on Thursday, March 7th. Finally, Barclays dropped their price objective on SBA Communications from $260.00 to $255.00 and set an “overweight” rating for the company in a research note on Wednesday. One investment 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 stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price 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.