United Asset Strategies Inc. Boosts Position in SBA Communications Co. (NASDAQ:SBAC)

United Asset Strategies Inc. increased its stake in SBA Communications Co. (NASDAQ:SBAC) by 4.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,809 shares of the technology company’s stock after buying an additional 84 shares during the period. United Asset Strategies Inc.’s holdings in SBA Communications were worth $459,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Carolinas Wealth Consulting LLC increased its position in SBA Communications by 248.0% during the 1st quarter. Carolinas Wealth Consulting LLC now owns 87 shares of the technology company’s stock valued at $30,000 after purchasing an additional 62 shares during the period. Emerald Advisers LLC acquired a new stake in SBA Communications in the 3rd quarter worth approximately $31,000. Resurgent Financial Advisors LLC acquired a new stake in SBA Communications during the 4th quarter valued at approximately $31,000. CVA Family Office LLC acquired a new stake in SBA Communications during the 4th quarter valued at approximately $37,000. Finally, Ancora Advisors LLC lifted its stake in shares of 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. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Insiders Place Their Bets

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

SBA Communications Trading Up 0.6 %

SBA Communications stock opened at $196.22 on Thursday. The stock has a market cap of $21.21 billion, a P/E ratio of 42.56, a price-to-earnings-growth ratio of 1.19 and a beta of 0.56. SBA Communications Co. has a 52 week low of $185.23 and a 52 week high of $266.77. The stock has a 50 day moving average of $212.12 and a 200-day moving average of $222.50.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, February 26th. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.36). The firm had revenue of $675.00 million for the quarter, compared to analyst estimates of $682.11 million. SBA Communications had a net margin of 18.51% and a negative return on equity of 9.70%. The business’s revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the company posted $3.11 earnings per share. As a group, equities analysts predict that SBA Communications Co. will post 12.6 earnings per share for the current fiscal year.

SBA Communications Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a $0.98 dividend. 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 yield of 2.00%. SBA Communications’s dividend payout ratio (DPR) is currently 85.03%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SBAC shares. Bank of America raised shares of 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. Barclays decreased their target price on shares of 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 reduced their price target on shares of 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 equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, SBA Communications presently has an average rating of “Buy” and an average 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.