Coldstream Capital Management Inc. Takes Position in SBA Communications Co. (NASDAQ:SBAC)

Coldstream Capital Management Inc. acquired a new position in SBA Communications Co. (NASDAQ:SBAC) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,951 shares of the technology company’s stock, valued at approximately $495,000.

Other hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP raised its position in shares of SBA Communications by 37.8% in 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 in the last quarter. Quaero Capital S.A. raised its holdings in SBA Communications by 1.4% in the fourth quarter. Quaero Capital S.A. now owns 3,730 shares of the technology company’s stock worth $946,000 after purchasing an additional 50 shares in the last quarter. Marks Group Wealth Management Inc lifted its position in shares of SBA Communications by 4.4% during the fourth quarter. Marks Group Wealth Management Inc now owns 1,274 shares of the technology company’s stock valued at $323,000 after buying an additional 54 shares during the last quarter. Pinnacle Bancorp Inc. boosted its holdings in shares of SBA Communications by 73.6% in the 4th quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock valued at $40,000 after buying an additional 67 shares in the last quarter. Finally, UMB Bank n.a. grew its position in shares of SBA Communications by 12.0% in the 4th quarter. UMB Bank n.a. now owns 674 shares of the technology company’s stock worth $171,000 after buying an additional 72 shares during the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

SBA Communications Trading Down 2.6 %

SBAC opened at $188.79 on Friday. The firm has a 50 day moving average of $203.68 and a two-hundred day moving average of $221.73. The firm has a market capitalization of $20.28 billion, a PE ratio of 37.02, a P/E/G ratio of 0.62 and a beta of 0.59. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $258.76.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, April 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $657.86 million during the quarter, compared to analysts’ expectations of $671.08 million. During the same quarter last year, the company posted $3.13 earnings per share. The firm’s revenue was down 2.6% compared to the same quarter last year. As a group, analysts predict that SBA Communications Co. will post 12.53 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Thursday, May 23rd will be paid a $0.98 dividend. The ex-dividend date is Wednesday, May 22nd. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.08%. SBA Communications’s payout ratio is 76.86%.

Insider Buying and Selling

In other news, Director Mary S. Chan sold 1,977 shares of SBA Communications 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 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 SEC, which is available through the SEC website. 1.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SBAC. BMO Capital Markets lowered their target price on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a research note on Tuesday, February 27th. StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a research report on Thursday. Barclays reduced their target price on SBA Communications from $255.00 to $241.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 30th. KeyCorp lowered their price target on SBA Communications from $276.00 to $227.00 and set an “overweight” rating for the company in a report on Tuesday, April 30th. Finally, Bank of America upgraded shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price objective on the stock in a report on Thursday, March 7th. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, SBA Communications presently has a consensus rating of “Buy” and a consensus target price of $252.25.

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.