Strs Ohio Boosts Stock Position in SBA Communications Co. (NASDAQ:SBAC)

Strs Ohio lifted its position in SBA Communications Co. (NASDAQ:SBAC) by 15.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 27,100 shares of the technology company’s stock after buying an additional 3,700 shares during the quarter. Strs Ohio’s holdings in SBA Communications were worth $6,874,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Carolinas Wealth Consulting LLC raised its holdings in shares of SBA Communications by 248.0% in the 1st quarter. Carolinas Wealth Consulting LLC now owns 87 shares of the technology company’s stock valued at $30,000 after buying an additional 62 shares during the period. Emerald Advisers LLC purchased a new stake in shares of SBA Communications in the 3rd quarter valued at $31,000. Resurgent Financial Advisors LLC purchased a new stake in shares of SBA Communications in the 4th quarter valued at $31,000. CVA Family Office LLC purchased a new stake in shares of SBA Communications in the 4th quarter valued at $37,000. Finally, Ancora Advisors LLC increased its holdings in SBA Communications by 88.6% during the 1st quarter. Ancora Advisors LLC now owns 132 shares of the technology company’s stock worth $37,000 after purchasing an additional 62 shares during the period. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Insider Activity at SBA Communications

In related news, Director Mary S. Chan sold 1,977 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $217.99, for a total value of $430,966.23. Following the completion of the sale, the director now directly owns 4,622 shares of the company’s stock, valued at approximately $1,007,549.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.60% of the company’s stock.

SBA Communications Stock Performance

SBAC opened at $196.22 on Thursday. SBA Communications Co. has a one year low of $185.23 and a one year high of $266.77. The company has a market cap of $21.21 billion, a P/E ratio of 42.56, a PEG ratio of 1.19 and a beta of 0.56. The business’s 50-day simple moving average is $212.12 and its 200-day simple moving average is $222.50.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, February 26th. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.36). The firm had revenue of $675.00 million during the quarter, compared to analyst estimates of $682.11 million. SBA Communications had a net margin of 18.51% and a negative return on equity of 9.70%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period last year, the company earned $3.11 earnings per share. As a group, analysts predict that SBA Communications Co. will post 12.6 earnings per share for the current fiscal year.

SBA Communications Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a $0.98 dividend. The ex-dividend date was Wednesday, March 13th. This is a boost from SBA Communications’s previous quarterly dividend of $0.85. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.00%. SBA Communications’s dividend payout ratio is 85.03%.

Analyst Ratings Changes

Several equities research analysts have weighed in on SBAC shares. Bank of America upgraded 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. BMO Capital Markets cut their price target on SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a report on Tuesday, February 27th. Finally, Barclays cut their price target on SBA Communications from $260.00 to $255.00 and set an “overweight” rating on the stock in a report on Wednesday. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, SBA Communications currently has a consensus rating of “Buy” and a consensus price target of $268.00.

About SBA Communications

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.