Ninepoint Partners LP Makes New Investment in SBA Communications Co. (NASDAQ:SBAC)

Ninepoint Partners LP bought a new position in shares of SBA Communications Co. (NASDAQ:SBAC) during the fourth quarter, HoldingsChannel.com reports. The firm bought 5,542 shares of the technology company’s stock, valued at approximately $1,406,000. SBA Communications makes up approximately 0.2% of Ninepoint Partners LP’s holdings, making the stock its 21st largest holding.

Other hedge funds also recently added to or reduced their stakes in the company. Carolinas Wealth Consulting LLC increased its position in shares of SBA Communications by 248.0% in the 1st quarter. Carolinas Wealth Consulting LLC now owns 87 shares of the technology company’s stock valued at $30,000 after purchasing an additional 62 shares during the last quarter. Emerald Advisers LLC purchased a new stake in shares of SBA Communications in the 3rd quarter valued at approximately $31,000. Resurgent Financial Advisors LLC purchased a new stake in shares of SBA Communications in the 4th quarter valued at approximately $31,000. CVA Family Office LLC purchased a new stake in shares of SBA Communications in the 4th quarter valued at approximately $37,000. Finally, Ancora Advisors LLC increased its position in shares of SBA Communications by 88.6% in the 1st quarter. Ancora Advisors LLC now owns 132 shares of the technology company’s stock valued at $37,000 after purchasing an additional 62 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at SBA Communications

In other news, Director Mary S. Chan sold 1,977 shares of the firm’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 sale, the director now owns 4,622 shares in the company, valued at approximately $1,007,549.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Barclays dropped their price objective on shares of SBA Communications from $260.00 to $255.00 and set an “overweight” rating on the stock in a research report on Wednesday. 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. Finally, BMO Capital Markets dropped their target price on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 27th. 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’s stock. According to data from MarketBeat.com, SBA Communications currently has an average rating of “Buy” and a consensus price target of $268.00.

SBA Communications Stock Down 0.1 %

NASDAQ:SBAC traded down $0.23 during trading hours on Friday, reaching $195.72. 205,825 shares of the company’s stock were exchanged, compared to its average volume of 988,178. The firm has a market capitalization of $21.16 billion, a price-to-earnings ratio of 42.51, a P/E/G ratio of 1.21 and a beta of 0.56. The company has a 50-day moving average of $211.72 and a 200 day moving average of $222.32. SBA Communications Co. has a 1-year low of $185.23 and a 1-year high of $264.06.

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 analysts’ consensus estimates of $1.37 by ($0.36). The business had revenue of $675.00 million for 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%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.11 EPS. Research analysts forecast that SBA Communications Co. will post 12.61 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. Investors of record on Thursday, March 14th were paid a dividend of $0.98 per share. The ex-dividend date was Wednesday, March 13th. This represents a $3.92 dividend on an annualized basis and a yield of 2.00%. This is a boost from SBA Communications’s previous quarterly dividend of $0.85. SBA Communications’s dividend payout ratio is currently 85.03%.

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.