United Asset Strategies Inc. Acquires 84 Shares of SBA Communications Co. (NASDAQ:SBAC)

United Asset Strategies Inc. raised its position in SBA Communications Co. (NASDAQ:SBAC) by 4.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,809 shares of the technology company’s stock after acquiring an additional 84 shares during the quarter. United Asset Strategies Inc.’s holdings in SBA Communications were worth $459,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. increased its position in SBA Communications by 0.8% in the third quarter. Principal Financial Group Inc. now owns 2,801,806 shares of the technology company’s stock worth $560,838,000 after buying an additional 21,792 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in SBA Communications by 15.9% during the 1st quarter. JPMorgan Chase & Co. now owns 2,537,428 shares of the technology company’s stock valued at $662,447,000 after buying an additional 348,105 shares in the last quarter. Geode Capital Management LLC grew its holdings in SBA Communications by 2.0% during the 1st quarter. Geode Capital Management LLC now owns 2,531,538 shares of the technology company’s stock valued at $659,594,000 after buying an additional 49,794 shares in the last quarter. Invesco Ltd. grew its holdings in SBA Communications by 140.6% during the 3rd quarter. Invesco Ltd. now owns 2,143,877 shares of the technology company’s stock valued at $429,140,000 after buying an additional 1,252,764 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in SBA Communications by 115.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,358,037 shares of the technology company’s stock valued at $271,838,000 after buying an additional 727,163 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.

Analyst Upgrades and Downgrades

SBAC has been the subject of several research analyst reports. Bank of America upgraded SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price target for the company in a report on Thursday, March 7th. BMO Capital Markets lowered their price objective on 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, Barclays lowered their price objective on SBA Communications from $260.00 to $255.00 and set an “overweight” rating for the company in a research note on Wednesday. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, SBA Communications presently has an average rating of “Buy” and an average price target of $268.00.

SBA Communications Stock Performance

SBA Communications stock opened at $196.22 on Thursday. The stock has a market cap of $21.21 billion, a PE ratio of 42.56, a price-to-earnings-growth ratio of 1.19 and a beta of 0.56. The stock has a 50-day moving average of $212.12 and a two-hundred day moving average of $222.50. SBA Communications Co. has a one year low of $185.23 and a one year high of $266.77.

SBA Communications (NASDAQ:SBAC) last issued 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). The business had revenue of $675.00 million during the quarter, compared to analyst estimates of $682.11 million. SBA Communications had a negative return on equity of 9.70% and a net margin of 18.51%. SBA Communications’s revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the business posted $3.11 EPS. As a group, sell-side analysts predict that SBA Communications Co. will post 12.6 EPS 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 2.00%. 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%.

Insiders Place Their Bets

In related news, Director Mary S. Chan sold 1,977 shares of the business’s 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 transaction, the director now directly owns 4,622 shares in the company, valued at approximately $1,007,549.78. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.60% of the stock is currently owned by insiders.

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.