Crescent Grove Advisors LLC Purchases Shares of 914 SBA Communications Co. (NASDAQ:SBAC)

Crescent Grove Advisors LLC bought a new stake in SBA Communications Co. (NASDAQ:SBAC) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 914 shares of the technology company’s stock, valued at approximately $232,000.

Several other hedge funds have also made changes to their positions in SBAC. Raymond James Trust N.A. lifted its stake in shares of SBA Communications by 19.0% in the first quarter. Raymond James Trust N.A. now owns 1,925 shares of the technology company’s stock valued at $662,000 after buying an additional 307 shares during the period. Vontobel Holding Ltd. raised its position in SBA Communications by 19.6% in the first quarter. Vontobel Holding Ltd. now owns 2,987 shares of the technology company’s stock worth $1,024,000 after purchasing an additional 489 shares in the last quarter. Prudential PLC acquired a new position in SBA Communications in the first quarter worth about $568,000. Sequoia Financial Advisors LLC acquired a new position in SBA Communications in the first quarter worth about $234,000. Finally, Zions Bancorporation N.A. raised its position in SBA Communications by 157.6% in the first quarter. Zions Bancorporation N.A. now owns 322 shares of the technology company’s stock worth $111,000 after purchasing an additional 197 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on SBAC shares. Bank of America raised shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price target for the company in a research report on Thursday, March 7th. Barclays lowered their price target on shares of SBA Communications from $265.00 to $260.00 and set an “overweight” rating for the company in a report on Tuesday, March 5th. Finally, BMO Capital Markets lowered their price target on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a report on Tuesday, February 27th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $268.38.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, Director Mary S. Chan sold 1,977 shares of the business’s stock in a transaction dated 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 sale, the director now owns 4,622 shares of the company’s stock, valued at approximately $1,007,549.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.

SBA Communications Price Performance

Shares of NASDAQ SBAC traded down $4.51 during midday trading on Tuesday, reaching $195.35. 161,052 shares of the stock were exchanged, compared to its average volume of 997,759. The business has a 50-day simple moving average of $213.01 and a two-hundred day simple moving average of $222.72. The company has a market capitalization of $21.12 billion, a price-to-earnings ratio of 43.35, a P/E/G ratio of 1.23 and a beta of 0.56. SBA Communications Co. has a 12 month low of $185.23 and a 12 month high of $266.77.

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 the consensus estimate of $1.37 by ($0.36). The company had revenue of $675.00 million during 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 period in the prior year, the firm posted $3.11 earnings per share. Equities research analysts expect that SBA Communications Co. will post 12.6 earnings per share for the current fiscal year.

SBA Communications Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $0.98 per share. This is an increase from SBA Communications’s previous quarterly dividend of $0.85. The ex-dividend date was Wednesday, March 13th. This represents a $3.92 annualized dividend and a dividend yield of 2.01%. SBA Communications’s payout ratio is presently 85.03%.

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.