Pathway Financial Advisors LLC Makes New Investment in SBA Communications Co. (NASDAQ:SBAC)

Pathway Financial Advisors LLC acquired a new position in SBA Communications Co. (NASDAQ:SBAC) in the fourth quarter, Holdings Channel.com reports. The fund acquired 885 shares of the technology company’s stock, valued at approximately $225,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SBAC. Carolinas Wealth Consulting LLC boosted its holdings in SBA Communications by 248.0% in the first quarter. Carolinas Wealth Consulting LLC now owns 87 shares of the technology company’s stock worth $30,000 after acquiring an additional 62 shares in the last quarter. Emerald Advisers LLC purchased a new stake in SBA Communications during the 3rd quarter worth approximately $31,000. Resurgent Financial Advisors LLC acquired a new position in SBA Communications during the 4th quarter valued at approximately $31,000. CVA Family Office LLC purchased a new position in shares of SBA Communications in the fourth quarter worth $37,000. Finally, Ancora Advisors LLC lifted its stake in shares of SBA Communications by 88.6% during the first quarter. Ancora Advisors LLC now owns 132 shares of the technology company’s stock worth $37,000 after buying an additional 62 shares during the period. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Stock Up 0.1 %

Shares of NASDAQ:SBAC traded up $0.11 during trading on Friday, hitting $196.06. 698,276 shares of the stock traded hands, compared to its average volume of 835,322. The company has a fifty day moving average price of $211.29 and a two-hundred day moving average price of $222.30. SBA Communications Co. has a 52-week low of $185.23 and a 52-week high of $264.06. The company has a market cap of $21.20 billion, a price-to-earnings ratio of 42.53, a P/E/G ratio of 1.20 and a beta of 0.56.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, February 26th. The technology company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.36). SBA Communications had a negative return on equity of 9.70% and a net margin of 18.51%. The firm had revenue of $675.00 million during the quarter, compared to analyst estimates of $682.11 million. During the same quarter last year, the company posted $3.11 EPS. The company’s revenue was down 1.6% on a year-over-year basis. On average, equities research analysts predict that SBA Communications Co. will post 12.61 EPS for the current fiscal year.

SBA Communications Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a dividend of $0.98 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $3.92 dividend on an annualized basis and a 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 currently 85.03%.

Insider Buying and Selling at SBA Communications

In other news, Director Mary S. Chan sold 1,977 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $217.99, for a total transaction of $430,966.23. Following the transaction, the director now owns 4,622 shares in the company, valued at approximately $1,007,549.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on SBAC. BMO Capital Markets lowered their price target on SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a research report on Tuesday, February 27th. 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. Finally, 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 research note on Thursday, March 7th. One equities research 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. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $268.00.

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.