International Assets Investment Management LLC Cuts Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

International Assets Investment Management LLC lowered its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 16.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,446 shares of the technology company’s stock after selling 2,605 shares during the quarter. International Assets Investment Management LLC’s holdings in SBA Communications were worth $3,411,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of SBAC. Carolinas Wealth Consulting LLC grew 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 buying an additional 62 shares in the last quarter. Emerald Advisers LLC bought a new position in SBA Communications in the 3rd quarter valued at $31,000. Resurgent Financial Advisors LLC bought a new position in SBA Communications in the 4th quarter valued at $31,000. CVA Family Office LLC bought a new position in SBA Communications in the 4th quarter valued at $37,000. Finally, Ancora Advisors LLC grew its stake in SBA Communications by 88.6% in the 1st quarter. Ancora Advisors LLC now owns 132 shares of the technology company’s stock valued at $37,000 after purchasing an additional 62 shares during the period. Institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Performance

Shares of SBAC opened at $196.22 on Thursday. The stock’s 50-day simple moving average is $212.12 and its 200 day simple moving average is $222.50. SBA Communications Co. has a 52-week low of $185.23 and a 52-week high of $266.77. The stock has a market capitalization of $21.21 billion, a price-to-earnings ratio of 42.56, a price-to-earnings-growth ratio of 1.22 and a beta of 0.56.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results 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). SBA Communications had a net margin of 18.51% and a negative return on equity of 9.70%. The business had revenue of $675.00 million during the quarter, compared to analysts’ expectations of $682.11 million. During the same period in the previous year, the business earned $3.11 EPS. The business’s revenue was down 1.6% on a year-over-year basis. On average, research analysts forecast that SBA Communications Co. will post 12.6 earnings per share for the current fiscal year.

SBA Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $0.98 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This is a positive change from SBA Communications’s previous quarterly dividend of $0.85. This represents a $3.92 annualized dividend and a dividend yield of 2.00%. SBA Communications’s dividend payout ratio is 85.03%.

Insider Activity

In other news, Director Mary S. Chan sold 1,977 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $217.99, for a total transaction of $430,966.23. Following the transaction, the director now directly owns 4,622 shares in the company, valued at approximately $1,007,549.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

SBAC has been the subject of a number of recent analyst reports. Bank of America upgraded SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price objective for the company in a research note on Thursday, March 7th. Barclays dropped their price target on SBA Communications from $260.00 to $255.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, BMO Capital Markets dropped their price target 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 investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $268.00.

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.