Livforsakringsbolaget Skandia Omsesidigt Increases Stock Position in SBA Communications Co. (NASDAQ:SBAC)

Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 67.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 225 shares of the technology company’s stock after acquiring an additional 91 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in SBA Communications were worth $57,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Nordea Investment Management AB raised its stake in shares of SBA Communications by 6.3% during the fourth quarter. Nordea Investment Management AB now owns 272,065 shares of the technology company’s stock worth $68,854,000 after acquiring an additional 16,244 shares in the last quarter. Legacy Trust purchased a new position in shares of SBA Communications during the fourth quarter worth approximately $3,256,000. Natixis Advisors L.P. raised its stake in shares of SBA Communications by 18.8% during the third quarter. Natixis Advisors L.P. now owns 36,708 shares of the technology company’s stock worth $7,348,000 after acquiring an additional 5,814 shares in the last quarter. Lecap Asset Management Ltd. purchased a new position in shares of SBA Communications during the fourth quarter worth approximately $2,122,000. Finally, Wakefield Asset Management LLLP raised its stake in shares of SBA Communications by 11.0% during the fourth quarter. Wakefield Asset Management LLLP now owns 13,964 shares of the technology company’s stock worth $3,543,000 after acquiring an additional 1,389 shares in the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on SBAC. Barclays decreased their price target on shares of SBA Communications from $260.00 to $255.00 and set an “overweight” rating on the stock in a research note on Wednesday. BMO Capital Markets cut 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 target price on the stock in a report on Thursday, March 7th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $268.00.

SBA Communications Trading Up 0.1 %

Shares of SBA Communications stock opened at $196.06 on Friday. The company’s fifty day simple moving average is $211.29 and its two-hundred day simple moving average is $222.30. The company has a market cap of $21.20 billion, a P/E ratio of 42.53, a PEG ratio of 1.20 and a beta of 0.56. SBA Communications Co. has a 12-month low of $185.23 and a 12-month high of $264.06.

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

SBA Communications Increases Dividend

The business also recently disclosed 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. This is an increase from SBA Communications’s previous quarterly dividend of $0.85. This represents a $3.92 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date was Wednesday, March 13th. SBA Communications’s payout ratio is presently 85.03%.

Insider Buying and Selling at SBA Communications

In other news, Director Mary S. Chan sold 1,977 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total value of $430,966.23. Following the sale, the director now directly owns 4,622 shares of the company’s stock, valued at approximately $1,007,549.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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.