Gateway Investment Advisers LLC Sells 12,512 Shares of SBA Communications Co. (NASDAQ:SBAC)

Gateway Investment Advisers LLC decreased its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 14.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,244 shares of the technology company’s stock after selling 12,512 shares during the period. Gateway Investment Advisers LLC owned about 0.07% of SBA Communications worth $15,539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Victory Capital Management Inc. increased its holdings in SBA Communications by 2,821.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company’s stock worth $292,714,000 after acquiring an additional 1,174,469 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of SBA Communications by 377.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 886,384 shares of the technology company’s stock valued at $213,353,000 after purchasing an additional 700,791 shares during the period. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of SBA Communications during the 2nd quarter valued at $134,738,000. JPMorgan Chase & Co. boosted its holdings in SBA Communications by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock worth $1,024,049,000 after buying an additional 605,872 shares during the period. Finally, Long Pond Capital LP purchased a new stake in SBA Communications in the 2nd quarter worth $83,687,000. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Trading Up 3.5 %

SBAC opened at $204.18 on Friday. The stock has a 50-day moving average of $212.06 and a 200 day moving average of $221.19. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $252.64. The firm has a market cap of $21.95 billion, a P/E ratio of 32.21, a P/E/G ratio of 0.68 and a beta of 0.69.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.77). The company had revenue of $667.60 million for the quarter, compared to the consensus estimate of $669.29 million. SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.34 EPS. On average, research analysts forecast that SBA Communications Co. will post 12.56 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th were issued a $0.98 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.92 annualized dividend and a dividend yield of 1.92%. SBA Communications’s dividend payout ratio (DPR) is presently 61.83%.

Wall Street Analysts Forecast Growth

SBAC has been the subject of a number of recent analyst reports. Barclays dropped their price objective on SBA Communications from $257.00 to $254.00 and set an “overweight” rating for the company in a research note on Monday. BMO Capital Markets restated a “market perform” rating and issued a $230.00 price target (down from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Wells Fargo & Company lifted their price objective on shares of SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. KeyCorp upped their target price on shares of SBA Communications from $230.00 to $280.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. lifted their price target on shares of SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $254.77.

Insider Buying and Selling

In related news, EVP Donald Day sold 2,321 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $203.43, for a total transaction of $472,161.03. Following the completion of the transaction, the executive vice president now owns 4,998 shares in the company, valued at $1,016,743.14. The trade was a 31.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark R. Ciarfella sold 3,545 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the completion of the sale, the executive vice president now owns 33,588 shares in the company, valued at approximately $7,534,796.04. The trade was a 9.55 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

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.