SBA Communications Co. (NASDAQ:SBAC) Position Raised by Cetera Trust Company N.A

Cetera Trust Company N.A grew its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 22.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,140 shares of the technology company’s stock after purchasing an additional 210 shares during the period. Cetera Trust Company N.A’s holdings in SBA Communications were worth $232,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Victory Capital Management Inc. grew its holdings in shares of SBA Communications by 2,821.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company’s stock worth $292,714,000 after acquiring an additional 1,174,469 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in SBA Communications by 377.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 886,384 shares of the technology company’s stock worth $213,353,000 after acquiring an additional 700,791 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in SBA Communications by 16.6% during the third quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock valued at $1,024,049,000 after purchasing an additional 605,872 shares during the last quarter. Long Pond Capital LP acquired a new stake in shares of SBA Communications in the second quarter valued at about $83,687,000. Finally, AQR Capital Management LLC grew its position in SBA Communications by 500.0% in the 2nd quarter. AQR Capital Management LLC now owns 369,037 shares of the technology company’s stock worth $72,375,000 after purchasing an additional 307,530 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on SBAC. Raymond James boosted their target price on shares of SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 29th. Wells Fargo & Company raised their price target on SBA Communications from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. StockNews.com lowered SBA Communications from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Finally, The Goldman Sachs Group boosted their price target on SBA Communications from $212.00 to $240.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $254.77.

SBA Communications Trading Down 1.9 %

Shares of SBA Communications stock opened at $200.55 on Wednesday. The company’s 50-day moving average price is $210.67 and its 200-day moving average price is $221.77. The company has a market cap of $21.56 billion, a price-to-earnings ratio of 31.63, a PEG ratio of 0.73 and a beta of 0.69. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $252.64.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.77). SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The firm had revenue of $667.60 million during the quarter, compared to the consensus estimate of $669.29 million. During the same quarter in the prior year, the business posted $3.34 EPS. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, sell-side analysts predict that SBA Communications Co. will post 12.57 earnings per share for the current year.

SBA Communications Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th were given a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend was Thursday, November 14th. SBA Communications’s dividend payout ratio is presently 61.83%.

Insider Buying and Selling

In related news, EVP Mark R. Ciarfella sold 3,545 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the transaction, the executive vice president now directly owns 33,588 shares of the company’s stock, valued at approximately $7,534,796.04. The trade was a 9.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Donald Day sold 2,321 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $203.43, for a total value of $472,161.03. Following the completion of the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,016,743.14. This represents a 31.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

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.