Foster & Motley Inc. Sells 2,316 Shares of SBA Communications Co. (NASDAQ:SBAC)

Foster & Motley Inc. cut its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 70.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 964 shares of the technology company’s stock after selling 2,316 shares during the quarter. Foster & Motley Inc.’s holdings in SBA Communications were worth $245,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in SBAC. Emerald Advisers LLC bought a new stake in SBA Communications during the 3rd quarter worth approximately $31,000. CVA Family Office LLC bought a new stake in SBA Communications during the 4th quarter worth approximately $37,000. Pinnacle Bancorp Inc. grew its holdings in SBA Communications by 73.6% during the 4th quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock worth $40,000 after acquiring an additional 67 shares during the last quarter. Allworth Financial LP grew its holdings in SBA Communications by 37.8% during the 4th quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock worth $42,000 after acquiring an additional 45 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in shares of SBA Communications in the 4th quarter valued at $43,000. 97.35% of the stock is owned by institutional investors.

SBA Communications Stock Down 0.5 %

SBA Communications stock opened at $197.93 on Friday. SBA Communications Co. has a 12-month low of $185.23 and a 12-month high of $263.08. The firm’s fifty day moving average is $210.22 and its 200 day moving average is $222.50. The company has a market capitalization of $21.40 billion, a PE ratio of 42.94, a PEG ratio of 1.22 and a beta of 0.56.

SBA Communications (NASDAQ:SBAC) last released its earnings results 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). SBA Communications had a net margin of 18.51% and a negative return on equity of 9.70%. The company had revenue of $675.00 million for the quarter, compared to analyst estimates of $682.11 million. During the same quarter in the previous year, the firm earned $3.11 EPS. The firm’s revenue was down 1.6% on a year-over-year basis. Sell-side analysts expect that SBA Communications Co. will post 12.61 EPS for the current fiscal year.

SBA Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.98 per share. This is an increase 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 yield of 1.98%. SBA Communications’s dividend payout ratio is presently 85.03%.

Insiders Place Their Bets

In other SBA Communications news, Director Mary S. Chan sold 1,977 shares of the company’s stock in a transaction 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 transaction, the director now owns 4,622 shares in the company, valued at $1,007,549.78. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on SBAC shares. Barclays reduced their price objective 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, April 17th. Bank of America raised shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price objective on the stock in a research note on Thursday, March 7th. Finally, BMO Capital Markets reduced their price objective on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 27th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average 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.