Skylands Capital LLC Lowers Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Skylands Capital LLC cut its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 21.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,250 shares of the technology company’s stock after selling 3,250 shares during the quarter. Skylands Capital LLC’s holdings in SBA Communications were worth $3,108,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Emerald Advisers LLC purchased a new position in shares of SBA Communications during the 3rd quarter worth about $31,000. CVA Family Office LLC acquired a new position in shares of SBA Communications in the 4th quarter valued at $37,000. Pinnacle Bancorp Inc. grew its stake in shares of SBA Communications by 73.6% during the 4th quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock valued at $40,000 after buying an additional 67 shares during the period. Allworth Financial LP increased its holdings in shares of SBA Communications by 37.8% during the 4th quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock worth $42,000 after buying an additional 45 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in shares of SBA Communications during the 4th quarter worth $43,000. 97.35% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at SBA Communications

In other news, Director Mary S. Chan sold 1,977 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $1,007,549.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is currently owned by insiders.

SBA Communications Stock Up 2.1 %

Shares of SBA Communications stock traded up $4.16 on Monday, hitting $200.39. 331,157 shares of the company’s stock traded hands, compared to its average volume of 975,504. SBA Communications Co. has a 52-week low of $185.23 and a 52-week high of $263.08. The stock has a market cap of $21.66 billion, a P/E ratio of 42.57, a PEG ratio of 1.21 and a beta of 0.56. The firm’s 50-day moving average is $210.01 and its 200 day moving average is $222.85.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings data on Monday, February 26th. The technology company reported $1.01 EPS 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 the consensus estimate of $682.11 million. SBA Communications had a net margin of 18.51% and a negative return on equity of 9.70%. The company’s revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the company earned $3.11 earnings per share. Equities research analysts forecast that SBA Communications Co. will post 12.61 EPS for the current year.

SBA Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.98 dividend. This is a positive change from SBA Communications’s previous quarterly dividend of $0.85. This represents a $3.92 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend was Wednesday, March 13th. SBA Communications’s payout ratio is currently 85.03%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Bank of America raised shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price objective for the company in a research report on Thursday, March 7th. Barclays decreased their target price on SBA Communications from $260.00 to $255.00 and set an “overweight” rating for the company in a research report on Wednesday, April 17th. Finally, BMO Capital Markets dropped their target price on SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a report on Tuesday, February 27th. One investment 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. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $268.00.

SBA Communications 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.