HB Wealth Management LLC Takes $364,000 Position in SBA Communications Co. (NASDAQ:SBAC)

HB Wealth Management LLC bought a new position in shares of SBA Communications Co. (NASDAQ:SBAC) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 1,436 shares of the technology company’s stock, valued at approximately $364,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Carolinas Wealth Consulting LLC grew its stake in SBA Communications by 248.0% during the 1st quarter. Carolinas Wealth Consulting LLC now owns 87 shares of the technology company’s stock worth $30,000 after purchasing an additional 62 shares in the last quarter. Resurgent Financial Advisors LLC acquired a new position in SBA Communications in the fourth quarter valued at approximately $31,000. Ancora Advisors LLC increased its stake in SBA Communications by 88.6% in the first 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. Emerald Advisers LLC acquired a new stake in SBA Communications during the third quarter worth approximately $31,000. Finally, First Horizon Advisors Inc. grew its position in shares of SBA Communications by 280.4% in the 1st quarter. First Horizon Advisors Inc. now owns 175 shares of the technology company’s stock valued at $46,000 after buying an additional 129 shares during the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Stock Performance

Shares of SBAC stock opened at $218.08 on Thursday. The stock has a fifty day moving average price of $217.73 and a 200 day moving average price of $222.45. The stock has a market cap of $23.58 billion, a PE ratio of 47.31, a P/E/G ratio of 1.33 and a beta of 0.56. SBA Communications Co. has a 1 year low of $185.23 and a 1 year high of $267.42.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, February 26th. The technology company reported $1.01 earnings per share (EPS) 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 business’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.11 EPS. As a group, equities research analysts predict that SBA Communications Co. will post 12.6 earnings per share for the current year.

SBA Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th will be given a dividend of $0.98 per share. This is an increase from SBA Communications’s previous quarterly dividend of $0.85. The ex-dividend date is Wednesday, March 13th. This represents a $3.92 annualized dividend and a yield of 1.80%. SBA Communications’s dividend payout ratio (DPR) is presently 85.03%.

Analysts Set New Price Targets

A number of brokerages have weighed in on SBAC. KeyCorp boosted their price objective on SBA Communications from $251.00 to $276.00 and gave the company an “overweight” rating in a research note on Wednesday, December 6th. Barclays lowered their price objective on shares of SBA Communications from $265.00 to $260.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 5th. 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. Finally, BMO Capital Markets dropped their price target on 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 investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $271.50.

Insider Transactions at SBA Communications

In related news, Director Mary S. Chan sold 1,977 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $217.99, for a total transaction of $430,966.23. Following the sale, the director now owns 4,622 shares of the company’s stock, valued at $1,007,549.78. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.60% of the company’s stock.

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.