SBA Communications Co. (NASDAQ:SBAC) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. grew its holdings in SBA Communications Co. (NASDAQ:SBAC) by 0.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,060 shares of the technology company’s stock after buying an additional 76 shares during the quarter. PNC Financial Services Group Inc.’s holdings in SBA Communications were worth $4,582,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. CVA Family Office LLC acquired a new position in shares of SBA Communications in the 4th quarter valued at $37,000. 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. Allworth Financial LP lifted its holdings 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 valued at $42,000 after purchasing an additional 45 shares during the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in SBA Communications during the 4th quarter worth $43,000. Finally, Clear Street Markets LLC grew its stake in shares of SBA Communications by 73.4% in the 3rd quarter. Clear Street Markets LLC now owns 248 shares of the technology company’s stock valued at $50,000 after purchasing an additional 105 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

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 on Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total value of $430,966.23. Following the transaction, the director now directly owns 4,622 shares of the company’s stock, valued at $1,007,549.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.30% of the company’s stock.

SBA Communications Trading Down 0.4 %

SBAC stock opened at $188.09 on Friday. The firm has a 50 day simple moving average of $203.13 and a 200-day simple moving average of $221.50. The company has a market capitalization of $20.21 billion, a P/E ratio of 36.88, a PEG ratio of 0.60 and a beta of 0.59. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $258.76.

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

SBA Communications Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SBAC. Barclays reduced their price objective on shares of SBA Communications from $255.00 to $241.00 and set an “overweight” rating for the company in a research report on Tuesday, April 30th. Citigroup cut their price target on SBA Communications from $290.00 to $260.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. Wells Fargo & Company cut their price target on SBA Communications from $260.00 to $230.00 and set an “overweight” rating for the company in a report on Tuesday, April 30th. StockNews.com raised shares of SBA Communications from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, KeyCorp dropped their price target on SBA Communications from $276.00 to $227.00 and set an “overweight” rating for the company in a research note on Tuesday, April 30th. Eleven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $252.25.

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.