Sanctuary Advisors LLC Buys 921 Shares of SBA Communications Co. (NASDAQ:SBAC)

Sanctuary Advisors LLC increased its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 19.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,672 shares of the technology company’s stock after purchasing an additional 921 shares during the quarter. Sanctuary Advisors LLC’s holdings in SBA Communications were worth $1,252,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SBAC. State Street Corp increased its position in SBA Communications by 1.8% in the third quarter. State Street Corp now owns 4,643,527 shares of the technology company’s stock worth $1,117,697,000 after purchasing an additional 81,566 shares during the period. Diamond Hill Capital Management Inc. grew its position in shares of SBA Communications by 13.4% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,973,867 shares of the technology company’s stock worth $387,470,000 after buying an additional 233,179 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of SBA Communications by 5.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,269,786 shares of the technology company’s stock worth $305,637,000 after buying an additional 62,555 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in SBA Communications by 2,821.5% in the third quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company’s stock valued at $292,714,000 after buying an additional 1,174,469 shares during the period. Finally, American Century Companies Inc. lifted its holdings in SBA Communications by 15.5% in the second quarter. American Century Companies Inc. now owns 1,190,288 shares of the technology company’s stock valued at $233,654,000 after buying an additional 159,433 shares during the period. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Stock Up 2.7 %

NASDAQ SBAC opened at $203.57 on Friday. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $256.68. The firm’s 50 day moving average is $225.67 and its 200-day moving average is $220.29. The company has a market capitalization of $21.89 billion, a PE ratio of 32.11, a price-to-earnings-growth ratio of 0.72 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC) last issued its quarterly 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 net margin of 25.76% and a negative return on equity of 13.13%. The business had revenue of $667.60 million during the quarter, compared to analyst estimates of $669.29 million. During the same quarter in the previous year, the firm posted $3.34 earnings per share. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. As a group, sell-side analysts expect that SBA Communications Co. will post 12.56 EPS for the current year.

SBA Communications Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 14th were given a dividend of $0.98 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.92 annualized dividend and a yield of 1.93%. SBA Communications’s dividend payout ratio (DPR) is presently 61.83%.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, EVP Mark R. Ciarfella sold 3,545 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $224.33, for a total value of $795,249.85. Following the completion of the sale, the executive vice president now owns 33,588 shares in the company, valued at $7,534,796.04. This trade represents a 9.55 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on SBAC shares. Barclays upped their target price on shares of SBA Communications from $236.00 to $256.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. KeyCorp upped their price objective on SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Raymond James raised their target price on SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 29th. BMO Capital Markets restated a “market perform” rating and set a $230.00 target price (down from $260.00) on shares of SBA Communications in a research report on Wednesday. Finally, Morgan Stanley increased their price target on shares of SBA Communications from $232.00 to $252.00 and gave the company an “overweight” rating in a research report on Wednesday, September 18th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $254.92.

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.