Coldstream Capital Management Inc. Makes New Investment in SBA Communications Co. (NASDAQ:SBAC)

Coldstream Capital Management Inc. purchased a new stake in SBA Communications Co. (NASDAQ:SBAC) during the 4th quarter, Holdings Channel reports. The firm purchased 1,951 shares of the technology company’s stock, valued at approximately $495,000.

Other large investors have also modified their holdings of the company. CVA Family Office LLC purchased a new stake in SBA Communications in the 4th quarter valued at approximately $37,000. Pinnacle Bancorp Inc. raised its holdings in shares of SBA Communications by 73.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock worth $40,000 after acquiring an additional 67 shares during the last quarter. Allworth Financial LP lifted its position in shares of SBA Communications by 37.8% in the fourth quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock valued at $42,000 after acquiring an additional 45 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of SBA Communications during the fourth quarter valued at $43,000. Finally, Clear Street Markets LLC boosted its stake in shares of SBA Communications by 73.4% during the third quarter. Clear Street Markets LLC now owns 248 shares of the technology company’s stock valued at $50,000 after acquiring an additional 105 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Stock Down 2.6 %

SBAC stock opened at $188.79 on Friday. The company has a market cap of $20.28 billion, a price-to-earnings ratio of 37.02, a PEG ratio of 0.62 and a beta of 0.59. The business has a fifty day simple moving average of $203.68 and a 200-day simple moving average of $221.73. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $258.76.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, April 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.21. The firm had revenue of $657.86 million during the quarter, compared to the consensus estimate 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 business earned $3.13 earnings per share. As a group, analysts expect that SBA Communications Co. will post 12.53 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

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

Insider Activity at SBA Communications

In other news, Director Mary S. Chan sold 1,977 shares of the 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 completion of the sale, the director now 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 through this hyperlink. 1.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

SBAC has been the subject of several analyst reports. Barclays cut their target price on shares of SBA Communications from $255.00 to $241.00 and set an “overweight” rating for the company in a research note on Tuesday, April 30th. StockNews.com raised shares of SBA Communications from a “hold” rating to a “buy” rating in a research note on Thursday. TD Cowen decreased their target price on shares of SBA Communications from $266.00 to $253.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. Bank of America upgraded 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. Finally, Citigroup decreased their price objective on SBA Communications from $290.00 to $260.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Eleven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, SBA Communications currently has an average rating of “Buy” and an average target price of $252.25.

About SBA Communications

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.