Swiss National Bank Sells 9,500 Shares of SBA Communications Co. (NASDAQ:SBAC)

Swiss National Bank decreased its stake in SBA Communications Co. (NASDAQ:SBAC) by 2.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 339,000 shares of the technology company’s stock after selling 9,500 shares during the period. Swiss National Bank owned approximately 0.31% of SBA Communications worth $86,001,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of SBAC. Emerald Advisers LLC bought a new stake in shares of SBA Communications in the 3rd quarter worth approximately $31,000. CVA Family Office LLC bought a new position in SBA Communications in the fourth quarter worth $37,000. Pinnacle Bancorp Inc. boosted its stake in SBA Communications by 73.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock worth $40,000 after buying an additional 67 shares in the last quarter. Allworth Financial LP increased its holdings in SBA Communications by 37.8% in the 4th quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock valued at $42,000 after buying an additional 45 shares during the period. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in shares of SBA Communications in the 4th quarter valued at $43,000. Institutional investors own 97.35% of the company’s stock.

Insider Activity

In related news, Director Mary S. Chan sold 1,977 shares of SBA Communications stock in a transaction dated 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 in the company, valued at $1,007,549.78. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on SBAC shares. 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 research report on Thursday, March 7th. Citigroup dropped their target price on SBA Communications from $290.00 to $260.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. BMO Capital Markets cut their target price on SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a research report on Tuesday, February 27th. TD Cowen lowered their price target on SBA Communications from $266.00 to $253.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. Finally, KeyCorp cut their price objective on SBA Communications from $276.00 to $227.00 and set an “overweight” rating for the company in a report on Tuesday, April 30th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $258.23.

SBA Communications Stock Down 0.4 %

Shares of NASDAQ:SBAC opened at $193.09 on Friday. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $258.76. The firm has a market cap of $20.87 billion, a P/E ratio of 37.86, a P/E/G ratio of 1.19 and a beta of 0.59. The company’s 50-day moving average price is $208.38 and its two-hundred day moving average price is $222.25.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, April 29th. The technology company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.21 by $0.21. SBA Communications had a net margin of 20.61% and a negative return on equity of 10.75%. The business had revenue of $657.86 million for the quarter, compared to analysts’ expectations of $671.08 million. During the same period in the prior year, the firm earned $3.13 earnings per share. SBA Communications’s revenue was down 2.6% compared to the same quarter last year. As a group, equities analysts predict that SBA Communications Co. will post 12.53 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Thursday, May 23rd will be given a dividend of $0.98 per share. The ex-dividend date is Wednesday, May 22nd. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.03%. SBA Communications’s payout ratio is currently 76.86%.

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.