SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Vanderbilt University

Vanderbilt University reduced its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 22.5% during the 4th quarter, HoldingsChannel reports. The fund owned 3,938 shares of the technology company’s stock after selling 1,145 shares during the period. SBA Communications accounts for 0.2% of Vanderbilt University’s portfolio, making the stock its 28th biggest position. Vanderbilt University’s holdings in SBA Communications were worth $999,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the company. Wetherby Asset Management Inc. boosted its stake in shares of SBA Communications by 2.2% during the 1st quarter. Wetherby Asset Management Inc. now owns 1,940 shares of the technology company’s stock worth $668,000 after acquiring an additional 41 shares in the last quarter. Stephens Inc. AR boosted its stake in shares of SBA Communications by 4.6% during the 1st quarter. Stephens Inc. AR now owns 986 shares of the technology company’s stock worth $257,000 after acquiring an additional 43 shares in the last quarter. Glenmede Trust Co. NA boosted its stake in shares of SBA Communications by 6.3% during the 3rd quarter. Glenmede Trust Co. NA now owns 748 shares of the technology company’s stock worth $212,000 after acquiring an additional 44 shares in the last quarter. Quent Capital LLC boosted its stake in shares of SBA Communications by 28.4% during the 3rd quarter. Quent Capital LLC now owns 249 shares of the technology company’s stock worth $50,000 after acquiring an additional 55 shares in the last quarter. Finally, Belpointe Asset Management LLC boosted its stake in shares of SBA Communications by 35.3% during the 1st quarter. Belpointe Asset Management LLC now owns 211 shares of the technology company’s stock worth $55,000 after acquiring an additional 55 shares in the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

SBA Communications Stock Down 1.2 %

SBAC stock traded down $2.51 during midday trading on Wednesday, hitting $210.44. The company’s stock had a trading volume of 227,986 shares, compared to its average volume of 1,011,075. SBA Communications Co. has a 52-week low of $185.23 and a 52-week high of $267.42. The firm has a market capitalization of $22.75 billion, a P/E ratio of 45.94, a PEG ratio of 1.31 and a beta of 0.56. The firm has a 50-day simple moving average of $216.03 and a 200-day simple moving average of $222.45.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data 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). The firm had revenue of $675.00 million for the quarter, compared to analysts’ expectations of $682.11 million. SBA Communications had a negative return on equity of 9.70% and a net margin of 18.51%. SBA Communications’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the firm posted $3.11 earnings per share. On average, sell-side analysts expect that SBA Communications Co. will post 12.59 earnings per share for the current fiscal year.

SBA Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a $0.98 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This is a positive change from SBA Communications’s previous quarterly dividend of $0.85. This represents a $3.92 dividend on an annualized basis and a yield of 1.86%. SBA Communications’s payout ratio is currently 85.03%.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, Director Mary S. Chan sold 1,977 shares of SBA Communications stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total value of $430,966.23. Following the transaction, the director now directly owns 4,622 shares in the company, valued at $1,007,549.78. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on SBAC shares. Barclays lowered 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. KeyCorp raised their price target on shares of SBA Communications from $251.00 to $276.00 and gave the company an “overweight” rating in a research note on Wednesday, December 6th. Bank of America upgraded shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price objective for the company in a report on Thursday, March 7th. Finally, BMO Capital Markets cut 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 investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $268.38.

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.