Sentry Investment Management LLC Has $144,000 Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Sentry Investment Management LLC lessened its stake in SBA Communications Co. (NASDAQ:SBAC) by 9.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 566 shares of the technology company’s stock after selling 61 shares during the period. Sentry Investment Management LLC’s holdings in SBA Communications were worth $144,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James Trust N.A. increased its holdings in SBA Communications by 19.0% in the first quarter. Raymond James Trust N.A. now owns 1,925 shares of the technology company’s stock valued at $662,000 after purchasing an additional 307 shares during the last quarter. Vontobel Holding Ltd. increased its holdings in SBA Communications by 19.6% during the first quarter. Vontobel Holding Ltd. now owns 2,987 shares of the technology company’s stock worth $1,024,000 after buying an additional 489 shares during the last quarter. Prudential PLC acquired a new position in shares of SBA Communications during the 1st quarter worth about $568,000. Sequoia Financial Advisors LLC acquired a new position in SBA Communications during the first quarter worth approximately $234,000. Finally, Zions Bancorporation N.A. raised its stake in SBA Communications by 157.6% in the 1st quarter. Zions Bancorporation N.A. now owns 322 shares of the technology company’s stock valued at $111,000 after acquiring an additional 197 shares during the period. Institutional investors own 97.35% of the company’s stock.

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 value of $430,966.23. Following the completion of the sale, the director now directly owns 4,622 shares of the company’s stock, valued at $1,007,549.78. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.60% of the stock is currently owned by company insiders.

SBA Communications Stock Performance

NASDAQ:SBAC opened at $196.22 on Thursday. SBA Communications Co. has a fifty-two week low of $185.23 and a fifty-two week high of $266.77. The company has a 50 day simple moving average of $212.12 and a two-hundred day simple moving average of $222.50. The company has a market capitalization of $21.21 billion, a PE ratio of 42.56, a P/E/G ratio of 1.19 and a beta of 0.56.

SBA Communications (NASDAQ:SBAC) last issued its quarterly 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). The business had revenue of $675.00 million during the quarter, compared to analyst estimates of $682.11 million. SBA Communications had a net margin of 18.51% and a negative return on equity of 9.70%. SBA Communications’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period last year, the firm posted $3.11 earnings per share. Research analysts predict that SBA Communications Co. will post 12.6 EPS for the current year.

SBA Communications Increases Dividend

The company 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. This represents a $3.92 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend was Wednesday, March 13th. This is a boost from SBA Communications’s previous quarterly dividend of $0.85. SBA Communications’s dividend payout ratio (DPR) is 85.03%.

Analyst Ratings Changes

Several research firms have weighed in on SBAC. Barclays lowered 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. BMO Capital Markets decreased their target price on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a report on Tuesday, February 27th. Finally, Bank of America upgraded shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price target on the stock in a research note on Thursday, March 7th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued 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 target price of $268.00.

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.