Cerity Partners LLC Raises Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Cerity Partners LLC boosted its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 64.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,609 shares of the technology company’s stock after acquiring an additional 1,418 shares during the quarter. Cerity Partners LLC’s holdings in SBA Communications were worth $916,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Capital Square LLC increased its stake in SBA Communications by 17.6% in the 4th quarter. Capital Square LLC now owns 1,784 shares of the technology company’s stock worth $453,000 after buying an additional 267 shares during the period. Quaero Capital S.A. grew its stake in SBA Communications by 1.4% in the 4th quarter. Quaero Capital S.A. now owns 3,730 shares of the technology company’s stock worth $946,000 after acquiring an additional 50 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in shares of SBA Communications by 38.4% during the fourth quarter. Sequoia Financial Advisors LLC now owns 4,159 shares of the technology company’s stock worth $1,055,000 after acquiring an additional 1,154 shares during the period. Tobam raised its stake in shares of SBA Communications by 83.3% during the fourth quarter. Tobam now owns 1,404 shares of the technology company’s stock valued at $356,000 after acquiring an additional 638 shares in the last quarter. Finally, Schwartz Investment Counsel Inc. boosted its holdings in shares of SBA Communications by 28.4% in the fourth quarter. Schwartz Investment Counsel Inc. now owns 249,000 shares of the technology company’s stock valued at $63,169,000 after purchasing an additional 55,000 shares during the period. Institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Up 0.4 %

NASDAQ SBAC opened at $196.80 on Tuesday. SBA Communications Co. has a 52 week low of $185.23 and a 52 week high of $263.08. The company has a 50 day moving average price of $210.91 and a 200 day moving average price of $222.79. The firm has a market cap of $21.28 billion, a PE ratio of 42.69, a price-to-earnings-growth ratio of 1.20 and a beta of 0.56.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data 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 business had revenue of $675.00 million for the quarter, compared to analysts’ expectations of $682.11 million. During the same quarter in the prior year, the company posted $3.11 EPS. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, equities research analysts anticipate that SBA Communications Co. will post 12.61 earnings per share for the current fiscal year.

SBA Communications Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 1.99%. The ex-dividend date was Wednesday, March 13th. This is an increase from SBA Communications’s previous quarterly dividend of $0.85. SBA Communications’s dividend payout ratio (DPR) is currently 85.03%.

Insider Transactions at SBA Communications

In related news, Director Mary S. Chan sold 1,977 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 4,622 shares of the company’s stock, valued at approximately $1,007,549.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Barclays reduced their price objective on SBA Communications from $260.00 to $255.00 and set an “overweight” rating on the stock in a report on Wednesday, April 17th. BMO Capital Markets lowered their price objective 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. 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 report on Thursday, March 7th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus 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.