SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Vanderbilt University

Vanderbilt University cut its stake in shares of SBA Communications Co. (NASDAQ:SBACFree Report) by 22.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,938 shares of the technology company’s stock after selling 1,145 shares during the quarter. SBA Communications makes up 0.2% of Vanderbilt University’s portfolio, making the stock its 28th largest holding. Vanderbilt University’s holdings in SBA Communications were worth $999,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. UMB Bank n.a. lifted its position in SBA Communications by 12.0% in the fourth quarter. UMB Bank n.a. now owns 674 shares of the technology company’s stock worth $171,000 after purchasing an additional 72 shares during the period. Independence Bank of Kentucky lifted its position in SBA Communications by 96.3% in the fourth quarter. Independence Bank of Kentucky now owns 265 shares of the technology company’s stock worth $67,000 after purchasing an additional 130 shares during the period. Washington Capital Management Inc. lifted its position in SBA Communications by 50.5% in the fourth quarter. Washington Capital Management Inc. now owns 3,085 shares of the technology company’s stock worth $783,000 after purchasing an additional 1,035 shares during the period. Blue Trust Inc. lifted its position in SBA Communications by 6.0% in the fourth quarter. Blue Trust Inc. now owns 1,391 shares of the technology company’s stock worth $353,000 after purchasing an additional 79 shares during the period. Finally, MJP Associates Inc. ADV acquired a new stake in SBA Communications in the fourth quarter worth approximately $289,000. 97.35% of the stock is owned by institutional investors.

SBA Communications Stock Performance

NASDAQ SBAC traded down $2.51 during trading on Wednesday, reaching $210.44. 227,986 shares of the company traded hands, compared to its average volume of 1,011,075. The stock’s 50 day moving average price is $216.03 and its two-hundred day moving average price is $222.45. The company has a market cap of $22.75 billion, a price-to-earnings ratio of 45.94, a P/E/G ratio of 1.31 and a beta of 0.56. SBA Communications Co. has a 1-year low of $185.23 and a 1-year high of $267.42.

SBA Communications (NASDAQ:SBACGet Free Report) last released its quarterly earnings data on Monday, February 26th. The technology company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.36). The company had revenue of $675.00 million for 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 in the previous year, the firm posted $3.11 earnings per share. Equities research analysts expect that SBA Communications Co. will post 12.59 EPS for the current fiscal year.

SBA Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 1.86%. The ex-dividend date was Wednesday, March 13th. This is a boost from SBA Communications’s previous quarterly dividend of $0.85. SBA Communications’s payout ratio is 85.03%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. BMO Capital Markets cut their target price on SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a research report on Tuesday, February 27th. Barclays cut their price objective on SBA Communications from $265.00 to $260.00 and set an “overweight” rating for the company in a research report on Tuesday, March 5th. 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 research note on Thursday, March 7th. Finally, KeyCorp upped their price target on shares of SBA Communications from $251.00 to $276.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 6th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $268.38.

View Our Latest Stock Report on SBA Communications

Insider Buying and Selling

In related news, Director Mary S. Chan sold 1,977 shares of the business’s 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 completion of the transaction, the director now owns 4,622 shares in the company, valued at approximately $1,007,549.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.60% of the stock is currently owned by corporate insiders.

About SBA Communications

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for SBA Communications (NASDAQ:SBAC)

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