MJP Associates Inc. ADV Purchases New Shares in SBA Communications Co. (NASDAQ:SBAC)

MJP Associates Inc. ADV acquired a new position in shares of SBA Communications Co. (NASDAQ:SBAC) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,141 shares of the technology company’s stock, valued at approximately $289,000.

Other institutional investors also recently bought and sold shares of the company. Carolinas Wealth Consulting LLC raised its holdings in SBA Communications by 248.0% during the first quarter. Carolinas Wealth Consulting LLC now owns 87 shares of the technology company’s stock worth $30,000 after purchasing an additional 62 shares in the last quarter. Emerald Advisers LLC purchased a new position in shares of SBA Communications during the 3rd quarter worth approximately $31,000. Resurgent Financial Advisors LLC purchased a new stake in shares of SBA Communications during the 4th quarter worth $31,000. CVA Family Office LLC acquired a new position in shares of SBA Communications during the 4th quarter worth $37,000. Finally, Ancora Advisors LLC grew its position in SBA Communications by 88.6% during the first quarter. Ancora Advisors LLC now owns 132 shares of the technology company’s stock worth $37,000 after buying an additional 62 shares during the period. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SBAC has been the subject of a number of analyst reports. Bank of America raised SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price target for the company in a report on Thursday, March 7th. KeyCorp increased their target price on shares of SBA Communications from $251.00 to $276.00 and gave the stock an “overweight” rating in a report on Wednesday, December 6th. Barclays reduced their target price on shares of SBA Communications from $265.00 to $260.00 and set an “overweight” rating for the company in a research note on Tuesday, March 5th. Finally, BMO Capital Markets lowered their target price on SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 27th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $271.50.

Insider Buying and Selling

In other SBA Communications news, Director Mary S. Chan sold 1,977 shares of the business’s 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 owns 4,622 shares of the company’s stock, valued at $1,007,549.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is currently owned by corporate insiders.

SBA Communications Trading Down 0.6 %

SBAC stock traded down $1.38 during mid-day trading on Thursday, reaching $216.70. 755,886 shares of the stock traded hands, compared to its average volume of 1,018,577. The stock’s fifty day moving average is $217.73 and its 200-day moving average is $222.45. The company has a market cap of $23.43 billion, a P/E ratio of 47.31, a P/E/G ratio of 1.31 and a beta of 0.56. SBA Communications Co. has a 52-week low of $185.23 and a 52-week high of $267.42.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings data on Monday, February 26th. The technology company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.36). The firm had revenue of $675.00 million for the quarter, compared to analysts’ expectations of $682.11 million. SBA Communications had a negative return on equity of 9.70% and a net margin of 18.51%. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.11 earnings per share. Equities research analysts expect that SBA Communications Co. will post 12.6 earnings per share for the current year.

SBA Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Thursday, March 14th will be paid a $0.98 dividend. This is a boost from SBA Communications’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend is Wednesday, March 13th. This represents a $3.92 annualized dividend and a dividend yield of 1.81%. SBA Communications’s payout ratio is presently 85.03%.

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.