Sunbelt Securities Inc. Purchases 76 Shares of SBA Communications Co. (NASDAQ:SBAC)

Sunbelt Securities Inc. lifted its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 20.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 441 shares of the technology company’s stock after purchasing an additional 76 shares during the period. Sunbelt Securities Inc.’s holdings in SBA Communications were worth $96,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SBAC. CVA Family Office LLC bought a new position in shares of SBA Communications during the 4th quarter worth approximately $37,000. Glassman Wealth Services grew its stake in SBA Communications by 79.1% in the 4th quarter. Glassman Wealth Services now owns 154 shares of the technology company’s stock valued at $39,000 after purchasing an additional 68 shares during the period. Pinnacle Bancorp Inc. grew its stake in SBA Communications by 73.6% in the 4th quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock valued at $40,000 after purchasing an additional 67 shares during the period. Allworth Financial LP increased its position 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 valued at $42,000 after purchasing an additional 45 shares during the last quarter. Finally, Quarry LP raised its stake in shares of SBA Communications by 400.0% during the 4th quarter. Quarry LP now owns 165 shares of the technology company’s stock worth $42,000 after purchasing an additional 132 shares during the period. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Citigroup decreased their price objective on shares of SBA Communications from $290.00 to $260.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. 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 report on Thursday, March 7th. TD Cowen reduced their price objective on SBA Communications from $266.00 to $253.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. Wells Fargo & Company decreased their target price on SBA Communications from $260.00 to $230.00 and set an “overweight” rating for the company in a research report on Tuesday, April 30th. Finally, StockNews.com cut SBA Communications from a “buy” rating to a “hold” rating in a research report on Friday. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $252.17.

SBA Communications Stock Performance

Shares of SBAC opened at $196.30 on Friday. The stock has a market capitalization of $21.09 billion, a price-to-earnings ratio of 38.49, a price-to-earnings-growth ratio of 0.63 and a beta of 0.65. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $258.76. The stock’s 50-day simple moving average is $194.93 and its 200 day simple moving average is $213.88.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results on Monday, April 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.21. The firm had revenue of $657.86 million for the quarter, compared to the consensus estimate of $671.08 million. SBA Communications had a net margin of 20.61% and a negative return on equity of 10.75%. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period in the prior year, the firm posted $3.13 earnings per share. On average, research analysts forecast that SBA Communications Co. will post 12.51 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Thursday, May 23rd were given a $0.98 dividend. The ex-dividend date of this dividend was Wednesday, May 22nd. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.00%. SBA Communications’s dividend payout ratio (DPR) is presently 76.86%.

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.