SBA Communications Co. (NASDAQ:SBAC) Stake Boosted by Steph & Co.

Steph & Co. boosted its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 13.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 943 shares of the technology company’s stock after purchasing an additional 114 shares during the quarter. Steph & Co.’s holdings in SBA Communications were worth $192,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in shares of SBA Communications during the third quarter valued at $26,000. Capital Performance Advisors LLP acquired a new position in SBA Communications during the 3rd quarter valued at about $35,000. Friedenthal Financial bought a new position in SBA Communications in the 3rd quarter worth about $50,000. Farther Finance Advisors LLC increased its stake in shares of SBA Communications by 32.5% in the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock valued at $52,000 after purchasing an additional 53 shares during the period. Finally, Eastern Bank bought a new stake in shares of SBA Communications during the third quarter valued at approximately $58,000. 97.35% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on SBAC. Raymond James raised their target price on SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a research report on Tuesday, October 29th. TD Cowen lifted their price objective on shares of SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. BMO Capital Markets reiterated a “market perform” rating and issued a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Wells Fargo & Company boosted their price target on shares of SBA Communications from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Finally, KeyCorp raised their price objective on shares of SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, SBA Communications currently has an average rating of “Moderate Buy” and an average target price of $254.77.

Insider Buying and Selling

In related news, 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 transaction of $795,249.85. Following the completion of the sale, the executive vice president now directly owns 33,588 shares in the company, valued at approximately $7,534,796.04. This trade represents a 9.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Donald Day sold 2,321 shares of SBA Communications stock in a transaction on Friday, December 20th. The shares were sold at an average price of $203.43, for a total value of $472,161.03. Following the sale, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at approximately $1,016,743.14. The trade was a 31.71 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

SBA Communications Trading Up 1.1 %

SBAC stock opened at $197.23 on Thursday. SBA Communications Co. has a one year low of $183.64 and a one year high of $252.64. The firm has a 50-day moving average of $212.49 and a two-hundred day moving average of $221.36. The firm has a market capitalization of $21.21 billion, a PE ratio of 31.11, a P/E/G ratio of 0.68 and a beta of 0.69.

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

SBA Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 14th were given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend was Thursday, November 14th. SBA Communications’s payout ratio is 61.83%.

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.