SBA Communications Co. (NASDAQ:SBAC) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale lowered its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 5.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,813 shares of the technology company’s stock after selling 1,295 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in SBA Communications were worth $5,736,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in SBAC. Principal Financial Group Inc. lifted its stake in SBA Communications by 0.8% during the third quarter. Principal Financial Group Inc. now owns 2,801,806 shares of the technology company’s stock worth $560,838,000 after purchasing an additional 21,792 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in SBA Communications by 15.9% in the first 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 during the last quarter. Geode Capital Management LLC lifted its stake in SBA Communications by 2.0% in the first 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 during the last quarter. Invesco Ltd. lifted its stake in SBA Communications by 140.6% in the third 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 during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in SBA Communications by 115.3% in the third 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 during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Trading Up 0.3 %

Shares of SBAC opened at $205.04 on Friday. The business’s 50-day moving average price is $213.82 and its 200 day moving average price is $222.37. The stock has a market capitalization of $22.17 billion, a P/E ratio of 44.48, a P/E/G ratio of 1.25 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 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 company had revenue of $675.00 million during the quarter, compared to analysts’ expectations of $682.11 million. SBA Communications had a negative return on equity of 9.70% and a net margin of 18.51%. The company’s revenue for the quarter 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. On average, research analysts predict that SBA Communications Co. will post 12.61 earnings per share for the current year.

SBA Communications Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend was Wednesday, March 13th. This is a boost from SBA Communications’s previous quarterly dividend of $0.85. SBA Communications’s payout ratio is 85.03%.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, Director Mary S. Chan sold 1,977 shares of SBA Communications stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $217.99, for a total transaction of $430,966.23. Following the transaction, the director now owns 4,622 shares of the company’s stock, valued at approximately $1,007,549.78. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. BMO Capital Markets cut their target price on SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a research note 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 price objective on the stock in a research note on Thursday, March 7th. Finally, Barclays cut 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 note on Tuesday, March 5th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, SBA Communications currently has an average rating of “Buy” and an average price target of $268.38.

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.