882 Shares in SBA Communications Co. (NASDAQ:SBAC) Acquired by SVB Wealth LLC

SVB Wealth LLC acquired a new stake in SBA Communications Co. (NASDAQ:SBAC) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 882 shares of the technology company’s stock, valued at approximately $224,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Nordea Investment Management AB lifted its stake in SBA Communications by 6.3% in the 4th quarter. Nordea Investment Management AB now owns 272,065 shares of the technology company’s stock valued at $68,854,000 after purchasing an additional 16,244 shares during the last quarter. Legacy Trust bought a new position in SBA Communications in the 4th quarter valued at approximately $3,256,000. Natixis Advisors L.P. lifted its stake in SBA Communications by 18.8% in the 3rd 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 during the last quarter. Lecap Asset Management Ltd. bought a new position in SBA Communications in the 4th quarter valued at approximately $2,122,000. Finally, Wakefield Asset Management LLLP lifted its stake in SBA Communications by 11.0% in the 4th quarter. Wakefield Asset Management LLLP now owns 13,964 shares of the technology company’s stock valued at $3,543,000 after purchasing an additional 1,389 shares during the last quarter. Institutional investors own 97.35% of the company’s stock.

Insider Activity at SBA Communications

In other SBA Communications news, Director Mary S. Chan sold 1,977 shares of SBA Communications stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total value of $430,966.23. Following the completion of the sale, the director now directly owns 4,622 shares of the company’s stock, valued at $1,007,549.78. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.30% of the stock is owned by company insiders.

SBA Communications Stock Up 0.4 %

SBAC stock opened at $196.80 on Tuesday. The firm has a market cap of $21.28 billion, a price-to-earnings ratio of 42.69, a PEG 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 $263.08. The company’s fifty day simple moving average is $210.91 and its 200 day simple moving average is $222.79.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, February 26th. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. SBA Communications’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.11 EPS. Research analysts expect that SBA Communications Co. will post 12.61 earnings per share for the current year.

SBA Communications Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.98 dividend. This is a positive change from SBA Communications’s previous quarterly dividend of $0.85. The ex-dividend date was Wednesday, March 13th. This represents a $3.92 annualized dividend and a yield of 1.99%. SBA Communications’s payout ratio is presently 85.03%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SBAC. Bank of America raised shares of 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. BMO Capital Markets cut their price target 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, Barclays cut their price target on shares of SBA Communications from $260.00 to $255.00 and set an “overweight” rating on the stock in a report on Wednesday, April 17th. One 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 company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average 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.