Greenleaf Trust Acquires 491 Shares of SBA Communications Co. (NASDAQ:SBAC)

Greenleaf Trust grew its position in SBA Communications Co. (NASDAQ:SBAC) by 41.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,688 shares of the technology company’s stock after purchasing an additional 491 shares during the quarter. Greenleaf Trust’s holdings in SBA Communications were worth $428,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Ninepoint Partners LP bought a new position in SBA Communications during the fourth quarter worth $1,406,000. Fidelis Capital Partners LLC bought a new position in SBA Communications during the fourth quarter worth $304,000. Xponance Inc. boosted its stake in SBA Communications by 3.2% during the fourth quarter. Xponance Inc. now owns 15,992 shares of the technology company’s stock worth $4,057,000 after acquiring an additional 493 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in SBA Communications by 67.9% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 225 shares of the technology company’s stock worth $57,000 after acquiring an additional 91 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in SBA Communications by 21.2% during the fourth quarter. Daiwa Securities Group Inc. now owns 19,847 shares of the technology company’s stock worth $5,035,000 after acquiring an additional 3,474 shares in the last quarter. 97.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SBAC has been the topic of several research analyst reports. Bank of America raised shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 target price on the stock in a research note on Thursday, March 7th. BMO Capital Markets lowered their price objective on shares of 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 lowered their price objective on shares of SBA Communications from $260.00 to $255.00 and set an “overweight” rating on the stock in a report on Wednesday, April 17th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $268.00.

SBA Communications Price Performance

Shares of SBAC stock opened at $198.30 on Wednesday. The firm has a 50-day moving average of $210.70 and a 200-day moving average of $222.84. The company has a market cap of $21.44 billion, a P/E ratio of 43.02, a P/E/G ratio of 1.21 and a beta of 0.56. SBA Communications Co. has a one year low of $185.23 and a one year high of $263.08.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, February 26th. The technology company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.36). The firm had revenue of $675.00 million during the quarter, compared to analysts’ expectations of $682.11 million. SBA Communications had a net margin of 18.51% and a negative return on equity of 9.70%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.11 EPS. As a group, research analysts expect that SBA Communications Co. will post 12.61 earnings per share for the current fiscal year.

SBA Communications Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a dividend of $0.98 per share. The ex-dividend date was Wednesday, March 13th. This represents a $3.92 annualized dividend and a yield of 1.98%. This is a positive change from SBA Communications’s previous quarterly dividend of $0.85. SBA Communications’s dividend payout ratio is presently 85.03%.

Insider Activity at SBA Communications

In related news, Director Mary S. Chan sold 1,977 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total transaction of $430,966.23. Following the completion of the transaction, the director now owns 4,622 shares in the company, valued at $1,007,549.78. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.30% of the stock is owned by company insiders.

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.