Yousif Capital Management LLC Cuts Holdings in SBA Communications Co. (NASDAQ:SBAC)

Yousif Capital Management LLC trimmed its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 3.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 17,911 shares of the technology company’s stock after selling 571 shares during the period. Yousif Capital Management LLC’s holdings in SBA Communications were worth $4,544,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC purchased a new position in SBA Communications in the 4th quarter valued at approximately $169,000. Marks Group Wealth Management Inc increased its stake in SBA Communications by 4.4% in the 4th quarter. Marks Group Wealth Management Inc now owns 1,274 shares of the technology company’s stock valued at $323,000 after purchasing an additional 54 shares in the last quarter. Jennison Associates LLC purchased a new position in SBA Communications in the 4th quarter valued at approximately $983,000. Duality Advisers LP increased its stake in SBA Communications by 389.6% in the 4th quarter. Duality Advisers LP now owns 17,414 shares of the technology company’s stock valued at $4,418,000 after purchasing an additional 13,857 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI increased its stake in SBA Communications by 3.3% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 2,409 shares of the technology company’s stock valued at $612,000 after purchasing an additional 76 shares in the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at SBA Communications

In related news, Director Mary S. Chan sold 1,977 shares of SBA Communications 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 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 Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on SBAC shares. Bank of America raised 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. BMO Capital Markets lowered their target price on SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a report on Tuesday, February 27th. Finally, Barclays lowered their target price on SBA Communications from $260.00 to $255.00 and set an “overweight” rating on the stock in a report on Wednesday, April 17th. 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 stock. According to MarketBeat.com, SBA Communications currently has an average rating of “Buy” and an average target price of $268.00.

SBA Communications Stock Down 0.9 %

SBAC stock opened at $196.23 on Friday. SBA Communications Co. has a 52-week low of $185.23 and a 52-week high of $263.08. The stock’s fifty day simple moving average is $210.01 and its 200-day simple moving average is $222.51. The stock has a market capitalization of $21.21 billion, a price-to-earnings ratio of 42.57, a price-to-earnings-growth ratio of 1.22 and a beta of 0.56.

SBA Communications (NASDAQ:SBAC) last posted 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). SBA Communications had a negative return on equity of 9.70% and a net margin of 18.51%. The business had revenue of $675.00 million for the quarter, compared to analyst estimates of $682.11 million. During the same quarter last year, the business earned $3.11 EPS. SBA Communications’s revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, analysts anticipate that SBA Communications Co. will post 12.61 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. Stockholders of record on Thursday, March 14th were issued a dividend of $0.98 per share. This is a boost from SBA Communications’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $3.92 annualized dividend and a dividend yield of 2.00%. SBA Communications’s dividend payout ratio (DPR) is 85.03%.

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.