SBA Communications Co. (NASDAQ:SBAC) Stock Position Lifted by Brooklyn Investment Group

Brooklyn Investment Group boosted its stake in SBA Communications Co. (NASDAQ:SBAC) by 25.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 479 shares of the technology company’s stock after buying an additional 97 shares during the quarter. Brooklyn Investment Group’s holdings in SBA Communications were worth $98,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of SBAC. Thurston Springer Miller Herd & Titak Inc. boosted its position in SBA Communications by 10.7% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 527 shares of the technology company’s stock valued at $127,000 after purchasing an additional 51 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of SBA Communications by 32.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock valued at $52,000 after buying an additional 53 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of SBA Communications by 17.3% in the 4th quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock valued at $73,000 after buying an additional 53 shares in the last quarter. Sugarloaf Wealth Management LLC increased its holdings in SBA Communications by 11.6% in the third quarter. Sugarloaf Wealth Management LLC now owns 558 shares of the technology company’s stock worth $134,000 after buying an additional 58 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in SBA Communications by 1.4% during the third quarter. Assenagon Asset Management S.A. now owns 4,512 shares of the technology company’s stock valued at $1,086,000 after acquiring an additional 64 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Stock Down 0.3 %

Shares of SBAC opened at $203.61 on Monday. The stock’s 50-day moving average price is $211.30 and its 200 day moving average price is $221.39. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $252.64. The firm has a market capitalization of $21.89 billion, a price-to-earnings ratio of 32.12, a P/E/G ratio of 0.68 and a beta of 0.69.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The firm had revenue of $667.60 million during the quarter, compared to analyst estimates of $669.29 million. During the same quarter in the previous year, the company posted $3.34 earnings per share. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. Equities research analysts expect that SBA Communications Co. will post 12.56 EPS for the current year.

SBA Communications Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 14th were paid a $0.98 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.92 dividend on an annualized basis and a yield of 1.93%. SBA Communications’s payout ratio is currently 61.83%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on SBAC shares. Raymond James increased their price target on shares of SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 29th. TD Cowen increased their target price on shares of SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. boosted their price target on SBA Communications from $228.00 to $250.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Wells Fargo & Company increased their price objective on SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Finally, The Goldman Sachs Group boosted their target price on SBA Communications from $212.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $254.77.

Insider Buying and Selling

In related news, EVP Mark R. Ciarfella sold 3,545 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $224.33, for a total transaction of $795,249.85. Following the completion of the sale, the executive vice president now owns 33,588 shares in the company, valued at $7,534,796.04. This trade represents a 9.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Donald Day sold 2,321 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $203.43, for a total transaction of $472,161.03. Following the sale, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at approximately $1,016,743.14. The trade was a 31.71 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

SBA Communications Company 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.