Sanctuary Advisors LLC Purchases 921 Shares of SBA Communications Co. (NASDAQ:SBAC)

Sanctuary Advisors LLC increased its position in SBA Communications Co. (NASDAQ:SBAC) by 19.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,672 shares of the technology company’s stock after acquiring an additional 921 shares during the quarter. Sanctuary Advisors LLC’s holdings in SBA Communications were worth $1,252,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. TCW Group Inc. bought a new position in shares of SBA Communications in the third quarter worth about $3,505,000. Toronto Dominion Bank grew its holdings in SBA Communications by 0.7% in the 3rd quarter. Toronto Dominion Bank now owns 64,433 shares of the technology company’s stock valued at $15,509,000 after buying an additional 427 shares during the last quarter. Coldstream Capital Management Inc. bought a new position in SBA Communications in the 3rd quarter worth approximately $266,000. Prestige Wealth Management Group LLC lifted its holdings in shares of SBA Communications by 4,963.3% during the third quarter. Prestige Wealth Management Group LLC now owns 1,519 shares of the technology company’s stock worth $366,000 after buying an additional 1,489 shares during the last quarter. Finally, Vestcor Inc boosted its position in shares of SBA Communications by 11.5% in the third quarter. Vestcor Inc now owns 36,701 shares of the technology company’s stock valued at $8,834,000 after acquiring an additional 3,773 shares during the period. Institutional investors own 97.35% of the company’s stock.

Insider Transactions at SBA Communications

In other SBA Communications news, EVP Mark R. Ciarfella sold 3,545 shares of SBA Communications stock in a transaction on Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the completion of the transaction, the executive vice president now owns 33,588 shares in the company, valued at approximately $7,534,796.04. The trade was a 9.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on SBAC shares. BMO Capital Markets reiterated a “market perform” rating and set a $230.00 target price (down from $260.00) on shares of SBA Communications in a research note on Wednesday. JPMorgan Chase & Co. upped their price objective on shares of SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. KeyCorp lifted their target price on SBA Communications from $230.00 to $280.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Barclays upped their price target on SBA Communications from $236.00 to $256.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Morgan Stanley lifted their price objective on SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a report on Wednesday, September 18th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, SBA Communications presently has an average rating of “Moderate Buy” and a consensus price target of $254.92.

SBA Communications Price Performance

Shares of NASDAQ:SBAC opened at $203.57 on Friday. The business’s fifty day moving average price is $225.67 and its two-hundred day moving average price is $220.29. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $256.68. The stock has a market capitalization of $21.89 billion, a price-to-earnings ratio of 32.11, a price-to-earnings-growth ratio of 0.72 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.77). SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The firm had revenue of $667.60 million during the quarter, compared to the consensus estimate of $669.29 million. During the same period in the previous year, the company posted $3.34 EPS. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. Research analysts expect that SBA Communications Co. will post 12.56 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th were paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend was Thursday, November 14th. SBA Communications’s dividend payout ratio (DPR) is currently 61.83%.

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.