Greenleaf Trust Buys 491 Shares of SBA Communications Co. (NASDAQ:SBAC)

Greenleaf Trust grew its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 41.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,688 shares of the technology company’s stock after buying an additional 491 shares during the period. Greenleaf Trust’s holdings in SBA Communications were worth $428,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. CVA Family Office LLC bought a new stake in shares of SBA Communications during the 4th quarter valued at $37,000. Emerald Advisers LLC bought a new stake in shares of SBA Communications during the 3rd quarter valued at $31,000. Pinnacle Bancorp Inc. raised its position in shares of SBA Communications by 73.6% in the 4th quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock worth $40,000 after purchasing an additional 67 shares during the last quarter. Allworth Financial LP raised its position in shares of SBA Communications by 37.8% in the 4th quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock worth $42,000 after purchasing an additional 45 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in shares of SBA Communications in the 4th quarter worth about $43,000. Institutional investors own 97.35% of the company’s stock.

Insider Activity at SBA Communications

In other SBA Communications news, Director Mary S. Chan sold 1,977 shares of SBA Communications 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 transaction, the director now owns 4,622 shares in the company, valued at $1,007,549.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SBAC shares. 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 report on Thursday, March 7th. BMO Capital Markets lowered their price target on SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a research report on Tuesday, February 27th. Finally, Barclays lowered their price target on SBA Communications from $260.00 to $255.00 and set an “overweight” rating for the company in a research report on Wednesday, April 17th. One 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 company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $268.00.

SBA Communications Price Performance

SBAC stock opened at $198.30 on Wednesday. The company has a market capitalization of $21.44 billion, a price-to-earnings ratio of 43.02, a PEG ratio of 1.21 and a beta of 0.56. SBA Communications Co. has a 1-year low of $185.23 and a 1-year high of $263.08. The business has a 50 day simple moving average of $210.70 and a two-hundred day simple moving average of $222.84.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, February 26th. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.36). The company had revenue of $675.00 million during 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%. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.11 earnings per share. Sell-side analysts anticipate that SBA Communications Co. will post 12.61 EPS for the current fiscal year.

SBA Communications Increases Dividend

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

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.