2,032 Shares in SBA Communications Co. (NASDAQ:SBAC) Purchased by Clearstead Trust LLC

Clearstead Trust LLC acquired a new stake in shares of SBA Communications Co. (NASDAQ:SBAC) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,032 shares of the technology company’s stock, valued at approximately $515,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Emerald Advisers LLC bought a new position in SBA Communications in the 3rd quarter worth approximately $31,000. CVA Family Office LLC purchased a new position in shares of SBA Communications in the fourth quarter valued at $37,000. Pinnacle Bancorp Inc. raised its stake in shares of SBA Communications by 73.6% during the 4th quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock valued at $40,000 after purchasing an additional 67 shares during the period. Allworth Financial LP lifted its holdings in SBA Communications by 37.8% during the 4th quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock worth $42,000 after purchasing an additional 45 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC bought a new position in SBA Communications in the 4th quarter worth about $43,000. Institutional investors own 97.35% of the company’s stock.

SBA Communications Trading Down 0.4 %

NASDAQ:SBAC traded down $0.78 during mid-day trading on Friday, reaching $193.09. The company’s stock had a trading volume of 1,072,792 shares, compared to its average volume of 940,862. The stock has a market cap of $20.87 billion, a P/E ratio of 37.86, a PEG ratio of 1.20 and a beta of 0.59. The firm’s fifty day moving average price is $208.38 and its two-hundred day moving average price is $222.25. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $258.76.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, April 29th. The technology company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.21. SBA Communications had a net margin of 20.61% and a negative return on equity of 10.75%. The firm had revenue of $657.86 million during the quarter, compared to analysts’ expectations of $671.08 million. During the same period in the previous year, the company earned $3.13 earnings per share. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. Analysts predict that SBA Communications Co. will post 12.56 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Thursday, May 23rd will be issued a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Wednesday, May 22nd. SBA Communications’s payout ratio is currently 76.86%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Bank of America raised shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price target on the stock in a report on Thursday, March 7th. KeyCorp reduced their price target on shares of SBA Communications from $276.00 to $227.00 and set an “overweight” rating for the company in a research report on Tuesday. BMO Capital Markets lowered their price objective 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. Barclays reduced their target price on SBA Communications from $255.00 to $241.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Citigroup lowered their price target on SBA Communications from $290.00 to $260.00 and set a “buy” rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $258.23.

Insider Activity at SBA Communications

In other news, Director Mary S. Chan sold 1,977 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total value of $430,966.23. Following the transaction, the director now owns 4,622 shares in the company, valued at approximately $1,007,549.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by company 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.