Naviter Wealth LLC Has $2.27 Million Holdings in SBA Communications Co. (NASDAQ:SBAC)

Naviter Wealth LLC raised its position in SBA Communications Co. (NASDAQ:SBAC) by 52.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 8,930 shares of the technology company’s stock after purchasing an additional 3,088 shares during the period. Naviter Wealth LLC’s holdings in SBA Communications were worth $2,265,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Emerald Advisers LLC bought a new stake in shares of SBA Communications during the 3rd quarter valued at about $31,000. CVA Family Office LLC acquired a new position in shares of SBA Communications during the fourth quarter valued at about $37,000. Pinnacle Bancorp Inc. boosted its position 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 worth $40,000 after purchasing an additional 67 shares in the last quarter. Allworth Financial LP grew its stake in shares of SBA Communications by 37.8% in the 4th quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock valued at $42,000 after buying an additional 45 shares during the period. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in SBA Communications in the 4th quarter valued at about $43,000. 97.35% of the stock is owned by institutional investors.

SBA Communications Price Performance

SBAC traded up $4.41 during midday trading on Monday, reaching $200.64. 292,985 shares of the company’s stock traded hands, compared to its average volume of 975,297. The stock has a market capitalization of $21.69 billion, a price-to-earnings ratio of 42.57, a P/E/G ratio of 1.21 and a beta of 0.56. SBA Communications Co. has a 52 week low of $185.23 and a 52 week high of $263.08. The firm has a fifty day moving average of $210.01 and a two-hundred day moving average of $222.85.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, February 26th. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.36). SBA Communications had a net margin of 18.51% and a negative return on equity of 9.70%. The business had revenue of $675.00 million for the quarter, compared to analysts’ expectations of $682.11 million. During the same quarter in the previous year, the business posted $3.11 earnings per share. SBA Communications’s revenue for the quarter was down 1.6% on a year-over-year basis. Sell-side analysts forecast that SBA Communications Co. will post 12.61 EPS for the current 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 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 dividend on an annualized basis and a yield of 1.95%. SBA Communications’s dividend payout ratio is 85.03%.

Wall Street Analyst Weigh In

SBAC has been the subject of a number of research reports. BMO Capital Markets reduced their price objective on SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a research note on Tuesday, February 27th. Bank of America upgraded 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 note on Thursday, March 7th. Finally, Barclays dropped their price objective on shares of SBA Communications from $260.00 to $255.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 17th. 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. Based on data from MarketBeat, SBA Communications currently has an average rating of “Buy” and a consensus target price of $268.00.

Insiders Place Their Bets

In other news, Director Mary S. Chan sold 1,977 shares of the company’s stock in a transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is currently owned by insiders.

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.