Procyon Advisors LLC Sells 186 Shares of SBA Communications Co. (NASDAQ:SBAC)

Procyon Advisors LLC decreased its position in SBA Communications Co. (NASDAQ:SBAC) by 5.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,345 shares of the technology company’s stock after selling 186 shares during the quarter. Procyon Advisors LLC’s holdings in SBA Communications were worth $848,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Raymond James Financial Services Advisors Inc. grew its holdings in SBA Communications by 9.4% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 14,248 shares of the technology company’s stock worth $3,615,000 after acquiring an additional 1,221 shares during the last quarter. CVA Family Office LLC bought a new stake in SBA Communications during the 4th quarter worth about $37,000. Raymond James & Associates grew its holdings in SBA Communications by 7.2% during the 4th quarter. Raymond James & Associates now owns 96,708 shares of the technology company’s stock worth $24,534,000 after acquiring an additional 6,520 shares during the last quarter. HB Wealth Management LLC bought a new stake in SBA Communications during the 4th quarter worth about $364,000. Finally, Premier Path Wealth Partners LLC bought a new stake in SBA Communications during the 4th quarter worth about $210,000. Institutional investors own 97.35% of the company’s stock.

SBA Communications Trading Up 0.6 %

Shares of NASDAQ SBAC traded up $1.31 during midday trading on Thursday, reaching $219.39. The company’s stock had a trading volume of 64,475 shares, compared to its average volume of 1,011,053. SBA Communications Co. has a fifty-two week low of $185.23 and a fifty-two week high of $267.42. The stock has a 50 day simple moving average of $217.73 and a 200-day simple moving average of $222.45. The stock has a market capitalization of $23.72 billion, a price-to-earnings ratio of 47.31, a PEG ratio of 1.31 and a beta of 0.56.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, February 26th. The technology company reported $1.01 earnings per share 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 firm had revenue of $675.00 million during the quarter, compared to the consensus estimate of $682.11 million. During the same period in the prior year, the business posted $3.11 earnings per share. SBA Communications’s quarterly revenue was down 1.6% compared to the same quarter last year. As a group, equities analysts anticipate that SBA Communications Co. will post 12.6 EPS for the current year.

SBA Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th will be issued a dividend of $0.98 per share. The ex-dividend date of this dividend is Wednesday, March 13th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.79%. This is an increase from SBA Communications’s previous quarterly dividend of $0.85. SBA Communications’s dividend payout ratio (DPR) is currently 85.03%.

Analyst Ratings Changes

SBAC has been the topic of a number of research analyst reports. KeyCorp increased their price objective on shares of SBA Communications from $251.00 to $276.00 and gave the stock an “overweight” rating in a report on Wednesday, December 6th. BMO Capital Markets reduced their target price on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 27th. Bank of America raised shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 target price on the stock in a research note on Thursday, March 7th. Finally, Barclays reduced their target price on shares of SBA Communications from $265.00 to $260.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 5th. One investment analyst has rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, SBA Communications currently has an average rating of “Buy” and a consensus price target of $271.50.

Insider Transactions at SBA Communications

In related news, Director Mary S. Chan sold 1,977 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 4,622 shares of the company’s stock, valued at $1,007,549.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.60% of the company’s stock.

About SBA Communications

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.