SBA Communications Co. (NASDAQ:SBAC) Shares Purchased by FourThought Financial Partners LLC

FourThought Financial Partners LLC increased its position in SBA Communications Co. (NASDAQ:SBAC) by 6.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,564 shares of the technology company’s stock after buying an additional 101 shares during the period. FourThought Financial Partners LLC’s holdings in SBA Communications were worth $397,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vestmark Advisory Solutions Inc. bought a new stake in shares of SBA Communications during the fourth quarter worth approximately $310,000. M&T Bank Corp raised its position in shares of SBA Communications by 13.8% in the fourth quarter. M&T Bank Corp now owns 5,157 shares of the technology company’s stock worth $1,308,000 after buying an additional 626 shares in the last quarter. Natixis Advisors L.P. grew its stake in shares of SBA Communications by 38.9% during the fourth quarter. Natixis Advisors L.P. now owns 51,004 shares of the technology company’s stock valued at $12,939,000 after buying an additional 14,296 shares during the last quarter. First Trust Direct Indexing L.P. lifted its holdings in SBA Communications by 44.4% in the fourth quarter. First Trust Direct Indexing L.P. now owns 1,820 shares of the technology company’s stock worth $462,000 after buying an additional 560 shares during the period. Finally, New York Life Investment Management LLC raised its holdings in SBA Communications by 107.6% in the 4th quarter. New York Life Investment Management LLC now owns 43,319 shares of the technology company’s stock worth $10,990,000 after acquiring an additional 22,456 shares during the last quarter. 97.35% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Mary S. Chan sold 1,977 shares of SBA Communications stock in a transaction on Tuesday, March 5th. The stock was 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 of the company’s stock, valued at $1,007,549.78. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.30% of the company’s stock.

SBA Communications Price Performance

Shares of NASDAQ:SBAC traded down $2.10 during trading on Monday, reaching $190.99. 178,630 shares of the company’s stock traded hands, compared to its average volume of 1,000,393. The stock has a market capitalization of $20.65 billion, a P/E ratio of 37.56, a price-to-earnings-growth ratio of 0.57 and a beta of 0.59. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $258.76. The company has a 50 day moving average of $208.38 and a 200-day moving average of $222.60.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Monday, April 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.21. The firm had revenue of $657.86 million for the quarter, compared to the consensus estimate of $671.08 million. SBA Communications had a net margin of 20.61% and a negative return on equity of 10.75%. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period in the prior year, the company posted $3.13 earnings per share. Equities research analysts predict that SBA Communications Co. will post 12.53 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Thursday, May 23rd will be paid a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Wednesday, May 22nd. SBA Communications’s dividend payout ratio (DPR) is presently 76.86%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SBAC shares. Barclays cut their price target on shares of SBA Communications from $255.00 to $241.00 and set an “overweight” rating on the stock in a report on Tuesday, April 30th. BMO Capital Markets dropped their price objective 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. Bank of America upgraded shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 target price for the company in a research note on Thursday, March 7th. Citigroup lowered their price target on shares of SBA Communications from $290.00 to $260.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. Finally, Wells Fargo & Company cut their target price on SBA Communications from $260.00 to $230.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 30th. One equities research 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 MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $254.75.

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.