SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 59.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,073 shares of the technology company’s stock after selling 28,402 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in SBA Communications were worth $4,839,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Carolinas Wealth Consulting LLC grew its position in SBA Communications by 248.0% during the first quarter. Carolinas Wealth Consulting LLC now owns 87 shares of the technology company’s stock worth $30,000 after buying an additional 62 shares during the period. Resurgent Financial Advisors LLC acquired a new position in SBA Communications during the fourth quarter worth about $31,000. Ancora Advisors LLC grew its position in 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. CVA Family Office LLC acquired a new position in SBA Communications during the fourth quarter worth about $37,000. Finally, Emerald Advisers LLC acquired a new position in SBA Communications during the third quarter worth about $31,000. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Mary S. Chan sold 1,977 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total transaction of $430,966.23. Following the completion of the transaction, the director now 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 Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

SBAC has been the topic of several recent research reports. BMO Capital Markets reduced their price target 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. Barclays reduced 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, April 17th. Finally, Bank of America raised shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price target 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $268.00.

SBA Communications Stock Performance

Shares of SBAC opened at $196.06 on Monday. The company has a market capitalization of $21.20 billion, a price-to-earnings ratio of 42.53, a PEG ratio of 1.20 and a beta of 0.56. The company’s 50 day simple moving average is $211.29 and its 200 day simple moving average is $222.75. SBA Communications Co. has a 1 year low of $185.23 and a 1 year high of $264.06.

SBA Communications (NASDAQ:SBAC) last announced 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 net margin of 18.51% and a negative return on equity of 9.70%. The firm had revenue of $675.00 million for the quarter, compared to analysts’ expectations of $682.11 million. During the same period in the previous year, the company posted $3.11 EPS. The business’s quarterly revenue was down 1.6% on a year-over-year basis. Equities analysts expect that SBA Communications Co. will post 12.61 EPS for the current fiscal year.

SBA Communications Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a dividend of $0.98 per share. This is a positive change from SBA Communications’s previous quarterly dividend of $0.85. The ex-dividend date was Wednesday, March 13th. This represents a $3.92 annualized dividend and a yield of 2.00%. SBA Communications’s dividend payout ratio is 85.03%.

SBA Communications Company 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.