Gateway Investment Advisers LLC decreased its position in shares of SBA Communications Co. (NASDAQ:SBAC – Free Report) by 14.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 76,244 shares of the technology company’s stock after selling 12,512 shares during the quarter. Gateway Investment Advisers LLC’s holdings in SBA Communications were worth $15,539,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. raised its stake in SBA Communications by 10.7% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 527 shares of the technology company’s stock worth $127,000 after buying an additional 51 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of SBA Communications by 32.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock worth $52,000 after acquiring an additional 53 shares in the last quarter. Versant Capital Management Inc raised its position in shares of SBA Communications by 17.3% in the 4th quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock worth $73,000 after acquiring an additional 53 shares in the last quarter. Sugarloaf Wealth Management LLC lifted its stake in shares of SBA Communications by 11.6% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 558 shares of the technology company’s stock worth $134,000 after purchasing an additional 58 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in SBA Communications by 1.4% during the third quarter. Assenagon Asset Management S.A. now owns 4,512 shares of the technology company’s stock valued at $1,086,000 after purchasing an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.
Analysts Set New Price Targets
Several research firms have commented on SBAC. BMO Capital Markets reissued a “market perform” rating and set a $230.00 price target (down from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. TD Cowen increased their target price on shares of SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Wells Fargo & Company lifted their price target on shares of SBA Communications from $220.00 to $240.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. KeyCorp increased their price objective on SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, StockNews.com downgraded SBA Communications from a “buy” rating to a “hold” rating in a research note on Monday. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $254.77.
Insider Activity
In other SBA Communications news, EVP Mark R. Ciarfella sold 3,545 shares of SBA Communications stock in a transaction on Monday, December 9th. The shares were sold at an average price of $224.33, for a total value of $795,249.85. Following the completion of the transaction, the executive vice president now owns 33,588 shares of the company’s stock, valued at approximately $7,534,796.04. The trade was a 9.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Donald Day sold 2,321 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,016,743.14. This trade represents a 31.71 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.
SBA Communications Stock Up 3.5 %
SBA Communications stock opened at $204.18 on Friday. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $252.64. The stock has a 50-day moving average price of $212.06 and a 200 day moving average price of $221.19. The company has a market capitalization of $21.95 billion, a price-to-earnings ratio of 32.21, a price-to-earnings-growth ratio of 0.68 and a beta of 0.69.
SBA Communications (NASDAQ:SBAC – Get Free Report) last released its quarterly earnings data on Monday, October 28th. The technology company reported $2.40 EPS 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 during the quarter, compared to analysts’ expectations of $669.29 million. During the same period last year, the company earned $3.34 earnings per share. The firm’s revenue was down 2.2% on a year-over-year basis. Research analysts anticipate that SBA Communications Co. will post 12.56 EPS for the current fiscal year.
SBA Communications Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 14th were paid a dividend of $0.98 per share. The ex-dividend date was Thursday, November 14th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.92%. SBA Communications’s payout ratio is currently 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.
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