SBA Communications Co. (NASDAQ:SBAC) Shares Acquired by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc lifted its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 4.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,274 shares of the technology company’s stock after acquiring an additional 54 shares during the period. Marks Group Wealth Management Inc’s holdings in SBA Communications were worth $323,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Invesco Ltd. grew its stake in SBA Communications by 140.6% during the 3rd quarter. Invesco Ltd. now owns 2,143,877 shares of the technology company’s stock worth $429,140,000 after buying an additional 1,252,764 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of SBA Communications by 115.3% in the third quarter. Ameriprise Financial Inc. now owns 1,358,037 shares of the technology company’s stock worth $271,838,000 after purchasing an additional 727,163 shares in the last quarter. Bristol John W & Co. Inc. NY bought a new position in shares of SBA Communications in the third quarter worth $92,725,000. Diamond Hill Capital Management Inc. grew its stake in shares of SBA Communications by 29.5% in the third quarter. Diamond Hill Capital Management Inc. now owns 992,547 shares of the technology company’s stock worth $198,678,000 after purchasing an additional 226,113 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of SBA Communications by 75.0% in the third quarter. Envestnet Asset Management Inc. now owns 358,026 shares of the technology company’s stock worth $71,666,000 after purchasing an additional 153,476 shares in the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SBAC has been the subject of several recent 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 research note on Thursday, March 7th. Barclays decreased their target price on SBA Communications from $260.00 to $255.00 and set an “overweight” rating for the company in a research note on Wednesday, April 17th. Finally, BMO Capital Markets decreased their target price on SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a research note on Tuesday, February 27th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, SBA Communications currently has an average rating of “Buy” and a consensus price target of $268.00.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, Director Mary S. Chan sold 1,977 shares of SBA Communications stock in a transaction on 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 transaction, the director now owns 4,622 shares in the company, valued at approximately $1,007,549.78. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.30% of the company’s stock.

SBA Communications Trading Up 0.8 %

Shares of SBAC stock opened at $198.30 on Wednesday. The stock has a 50 day moving average of $210.70 and a two-hundred day moving average of $222.84. SBA Communications Co. has a 12 month low of $185.23 and a 12 month high of $263.08. The company has a market capitalization of $21.44 billion, a P/E ratio of 43.02, a P/E/G ratio of 1.21 and a beta of 0.56.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, February 26th. The technology company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.36). The company had revenue of $675.00 million for the quarter, compared to the consensus estimate of $682.11 million. SBA Communications had a negative return on equity of 9.70% and a net margin of 18.51%. SBA Communications’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the business earned $3.11 EPS. Sell-side analysts predict that SBA Communications Co. will post 12.61 earnings per share for the current fiscal year.

SBA Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a $0.98 dividend. This is an increase from SBA Communications’s previous quarterly dividend of $0.85. The ex-dividend date was Wednesday, March 13th. This represents a $3.92 annualized dividend and a yield of 1.98%. SBA Communications’s payout ratio is presently 85.03%.

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.