Verdence Capital Advisors LLC Cuts Stock Position in SBA Communications Co. (NASDAQ:SBAC)

Verdence Capital Advisors LLC lessened its stake in SBA Communications Co. (NASDAQ:SBAC) by 3.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,349 shares of the technology company’s stock after selling 55 shares during the quarter. Verdence Capital Advisors LLC’s holdings in SBA Communications were worth $342,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SBAC. Emerald Advisers LLC purchased a new stake in shares of SBA Communications during the third quarter worth $31,000. CVA Family Office LLC purchased a new stake in shares of SBA Communications during the fourth quarter worth $37,000. Pinnacle Bancorp Inc. grew its holdings in shares of SBA Communications by 73.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock worth $40,000 after buying an additional 67 shares in the last quarter. Allworth Financial LP grew its holdings in shares of SBA Communications by 37.8% during the fourth quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock worth $42,000 after buying an additional 45 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in shares of SBA Communications during the fourth quarter worth $43,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SBAC shares. Bank of America raised shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 target price for the company in a report on Thursday, March 7th. Barclays dropped their price objective on shares of SBA Communications from $260.00 to $255.00 and set an “overweight” rating for the company in a report on Wednesday, April 17th. Finally, BMO Capital Markets dropped their price objective on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a report on Tuesday, February 27th. One investment 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. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $268.00.

Insider Buying and Selling at SBA Communications

In other news, Director Mary S. Chan sold 1,977 shares of the stock in a transaction dated Tuesday, March 5th. The shares were 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is currently owned by corporate insiders.

SBA Communications Price Performance

NASDAQ SBAC opened at $198.30 on Wednesday. The firm’s 50-day moving average is $210.70 and its two-hundred day moving average is $222.84. SBA Communications Co. has a 12 month low of $185.23 and a 12 month high of $263.08. The stock has a market capitalization of $21.44 billion, a P/E ratio of 43.02, a PEG ratio of 1.21 and a beta of 0.56.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, February 26th. The technology company reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.36). SBA Communications had a net margin of 18.51% and a negative return on equity of 9.70%. The company had revenue of $675.00 million during the quarter, compared to analyst estimates of $682.11 million. During the same period in the previous year, the company earned $3.11 EPS. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. As a group, analysts anticipate that SBA Communications Co. will post 12.61 EPS for the current year.

SBA Communications Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a $0.98 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $3.92 dividend on an annualized basis and a yield of 1.98%. This is a boost from SBA Communications’s previous quarterly dividend of $0.85. SBA Communications’s dividend payout ratio is presently 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.