Zurcher Kantonalbank Zurich Cantonalbank Has $4.84 Million Holdings in SBA Communications Co. (NASDAQ:SBAC)

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 59.8% during the fourth quarter, Holdings Channel reports. The fund owned 19,073 shares of the technology company’s stock after selling 28,402 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in SBA Communications were worth $4,839,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in SBAC. Carolinas Wealth Consulting LLC raised its holdings in shares of SBA Communications by 248.0% during 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 during the period. Emerald Advisers LLC acquired a new stake in shares of SBA Communications during the third quarter valued at approximately $31,000. Resurgent Financial Advisors LLC acquired a new stake in shares of SBA Communications during the fourth quarter valued at approximately $31,000. CVA Family Office LLC acquired a new stake in shares of SBA Communications during the fourth quarter valued at approximately $37,000. Finally, Ancora Advisors LLC raised its holdings in shares of SBA Communications by 88.6% during 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 during the period. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Price Performance

Shares of NASDAQ:SBAC opened at $196.06 on Monday. The company has a market capitalization of $21.20 billion, a price-to-earnings ratio of 42.53, a P/E/G ratio of 1.20 and a beta of 0.56. The firm’s 50 day simple moving average is $211.29 and its 200 day simple moving average is $222.75. SBA Communications Co. has a fifty-two week low of $185.23 and a fifty-two week high of $264.06.

SBA Communications (NASDAQ:SBAC) last announced its quarterly 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 firm had revenue of $675.00 million during the quarter, compared to analyst estimates of $682.11 million. SBA Communications had a net margin of 18.51% and a negative return on equity of 9.70%. The business’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.11 earnings per share. Equities research analysts expect that SBA Communications Co. will post 12.61 earnings per share for the current year.

SBA Communications Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.98 per share. This is an increase from SBA Communications’s previous quarterly dividend of $0.85. This represents a $3.92 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend was Wednesday, March 13th. SBA Communications’s dividend payout ratio (DPR) is 85.03%.

Analysts Set New Price Targets

A number of brokerages recently commented on SBAC. Barclays lowered their price objective on shares of SBA Communications from $260.00 to $255.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 17th. BMO Capital Markets decreased their price objective on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a report on Tuesday, February 27th. Finally, Bank of America raised shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 target price on the stock 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 issued a strong buy rating to the company. According to MarketBeat.com, SBA Communications has an average rating of “Buy” and an average target price of $268.00.

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 that occurred on Tuesday, March 5th. The shares were 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 approximately $1,007,549.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.30% of the company’s stock.

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.