SBA Communications Co. (NASDAQ:SBAC) Position Boosted by Perpetual Ltd

Perpetual Ltd raised its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 43.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,854 shares of the technology company’s stock after acquiring an additional 38,789 shares during the period. Perpetual Ltd owned approximately 0.12% of SBA Communications worth $26,260,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB increased its holdings in shares of SBA Communications by 112.9% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 577 shares of the technology company’s stock valued at $118,000 after purchasing an additional 306 shares during the period. Aaron Wealth Advisors LLC increased its stake in SBA Communications by 50.5% during the 4th quarter. Aaron Wealth Advisors LLC now owns 1,631 shares of the technology company’s stock valued at $332,000 after buying an additional 547 shares during the period. Brooklyn Investment Group increased its stake in SBA Communications by 25.4% during the 4th quarter. Brooklyn Investment Group now owns 479 shares of the technology company’s stock valued at $98,000 after buying an additional 97 shares during the period. Merit Financial Group LLC bought a new stake in shares of SBA Communications during the 4th quarter worth about $525,000. Finally, Wedge Capital Management L L P NC lifted its stake in shares of SBA Communications by 10.5% in the 4th quarter. Wedge Capital Management L L P NC now owns 16,215 shares of the technology company’s stock worth $3,305,000 after acquiring an additional 1,547 shares during the period. Institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Down 0.3 %

Shares of NASDAQ:SBAC opened at $203.61 on Tuesday. The company has a market cap of $21.89 billion, a P/E ratio of 32.12, a price-to-earnings-growth ratio of 0.73 and a beta of 0.69. The company’s fifty day moving average is $211.30 and its two-hundred day moving average is $221.60. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $252.64.

SBA Communications (NASDAQ:SBAC) last posted its quarterly 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). SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The business had revenue of $667.60 million for the quarter, compared to analyst estimates of $669.29 million. During the same period in the previous year, the firm posted $3.34 earnings per share. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. Equities research analysts anticipate that SBA Communications Co. will post 12.57 earnings per share for the current year.

SBA Communications Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date was Thursday, November 14th. SBA Communications’s payout ratio is presently 61.83%.

Analysts Set New Price Targets

SBAC has been the topic of a number of research analyst reports. The Goldman Sachs Group raised their price objective on shares of SBA Communications from $212.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Raymond James lifted their price target 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. StockNews.com lowered SBA Communications from a “buy” rating to a “hold” rating in a report on Monday, January 13th. BMO Capital Markets reaffirmed a “market perform” rating and set a $230.00 target price (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Finally, Wells Fargo & Company upped their price target on shares of SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Five 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $254.77.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, EVP Donald Day sold 2,321 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $203.43, for a total value of $472,161.03. Following 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mark R. Ciarfella sold 3,545 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the sale, the executive vice president now directly owns 33,588 shares of the company’s stock, valued at $7,534,796.04. This trade represents a 9.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

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.