Sentry Investment Management LLC Sells 61 Shares of SBA Communications Co. (NASDAQ:SBAC)

Sentry Investment Management LLC trimmed its position in SBA Communications Co. (NASDAQ:SBAC) by 9.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 566 shares of the technology company’s stock after selling 61 shares during the quarter. Sentry Investment Management LLC’s holdings in SBA Communications were worth $144,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James Trust N.A. raised its holdings in shares of SBA Communications by 19.0% in the first quarter. Raymond James Trust N.A. now owns 1,925 shares of the technology company’s stock valued at $662,000 after acquiring an additional 307 shares in the last quarter. Vontobel Holding Ltd. increased its position in SBA Communications by 19.6% during the 1st quarter. Vontobel Holding Ltd. now owns 2,987 shares of the technology company’s stock valued at $1,024,000 after purchasing an additional 489 shares during the period. Prudential PLC purchased a new position in SBA Communications during the 1st quarter valued at about $568,000. Sequoia Financial Advisors LLC bought a new stake in shares of SBA Communications in the 1st quarter valued at about $234,000. Finally, Zions Bancorporation N.A. lifted its position in shares of SBA Communications by 157.6% in the 1st quarter. Zions Bancorporation N.A. now owns 322 shares of the technology company’s stock worth $111,000 after purchasing an additional 197 shares during the period. Institutional investors own 97.35% of the company’s stock.

Insider Buying and Selling at SBA Communications

In other news, Director Mary S. Chan sold 1,977 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $1,007,549.78. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 1.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on SBAC shares. Barclays cut their price target on SBA Communications from $260.00 to $255.00 and set an “overweight” rating on the stock in a report on Wednesday. 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, 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 research report on Thursday, March 7th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $268.00.

SBA Communications Stock Performance

Shares of SBAC opened at $196.22 on Thursday. The company has a market capitalization of $21.21 billion, a P/E ratio of 42.56, a P/E/G ratio of 1.19 and a beta of 0.56. The business’s 50-day moving average is $212.12 and its two-hundred day moving average is $222.50. SBA Communications Co. has a fifty-two week low of $185.23 and a fifty-two week high of $266.77.

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 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 company 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 business posted $3.11 earnings per share. The firm’s revenue was down 1.6% compared to the same quarter last year. Analysts forecast that SBA Communications Co. will post 12.6 EPS for the current year.

SBA Communications Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 2.00%. The ex-dividend date was Wednesday, March 13th. This is a positive change from SBA Communications’s previous quarterly dividend of $0.85. SBA Communications’s dividend payout ratio (DPR) is currently 85.03%.

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.