Fidelis Capital Partners LLC Acquires New Holdings in SBA Communications Co. (NASDAQ:SBAC)

Fidelis Capital Partners LLC acquired a new stake in shares of SBA Communications Co. (NASDAQ:SBAC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,198 shares of the technology company’s stock, valued at approximately $304,000.

Several other institutional investors also recently bought and sold shares of the business. Wetherby Asset Management Inc. increased its holdings in SBA Communications by 2.2% during the first quarter. Wetherby Asset Management Inc. now owns 1,940 shares of the technology company’s stock valued at $668,000 after buying an additional 41 shares during the period. Stephens Inc. AR grew its holdings in SBA Communications by 4.6% in the first quarter. Stephens Inc. AR now owns 986 shares of the technology company’s stock worth $257,000 after purchasing an additional 43 shares during the last quarter. Glenmede Trust Co. NA grew its holdings in SBA Communications by 6.3% in the third quarter. Glenmede Trust Co. NA now owns 748 shares of the technology company’s stock worth $212,000 after purchasing an additional 44 shares during the last quarter. Allworth Financial LP grew its holdings in SBA Communications by 37.8% in the fourth quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock worth $42,000 after purchasing an additional 45 shares during the last quarter. Finally, Quaero Capital S.A. grew its holdings in SBA Communications by 1.4% in the fourth quarter. Quaero Capital S.A. now owns 3,730 shares of the technology company’s stock worth $946,000 after purchasing an additional 50 shares during the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SBAC. Barclays cut their price target on shares of SBA Communications from $260.00 to $255.00 and set an “overweight” rating on the stock in a report on Wednesday. BMO Capital Markets cut their price target 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, 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. One research 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 company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $268.00.

Insiders Place Their Bets

In other SBA Communications news, Director Mary S. Chan sold 1,977 shares of the company’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 transaction, the director now owns 4,622 shares in the company, valued at $1,007,549.78. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.60% of the company’s stock.

SBA Communications Price Performance

NASDAQ SBAC opened at $196.06 on Friday. The company has a market capitalization of $21.20 billion, a PE ratio of 42.53, a P/E/G ratio of 1.20 and a beta of 0.56. The company has a fifty day moving average of $211.29 and a 200 day moving average of $222.30. SBA Communications Co. has a 1 year low of $185.23 and a 1 year high of $264.06.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, February 26th. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.36). The business 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 company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.11 earnings per share. Research analysts expect that SBA Communications Co. will post 12.61 earnings per share for the current year.

SBA Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a $0.98 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.00%. This is an increase from SBA Communications’s previous quarterly dividend of $0.85. SBA Communications’s dividend payout ratio is 85.03%.

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.