Golden State Equity Partners Makes New Investment in SBA Communications Co. (NASDAQ:SBAC)

Golden State Equity Partners bought a new position in shares of SBA Communications Co. (NASDAQ:SBAC) during the 4th quarter, HoldingsChannel reports. The firm bought 1,150 shares of the technology company’s stock, valued at approximately $292,000.

Other institutional investors have also recently made changes to their positions in the company. Nordea Investment Management AB lifted its position in shares of SBA Communications by 6.3% during the fourth quarter. Nordea Investment Management AB now owns 272,065 shares of the technology company’s stock worth $68,854,000 after acquiring an additional 16,244 shares in the last quarter. Legacy Trust purchased a new stake in shares of SBA Communications in the fourth quarter worth $3,256,000. Natixis Advisors L.P. raised its position in shares of SBA Communications by 18.8% in the third quarter. Natixis Advisors L.P. now owns 36,708 shares of the technology company’s stock worth $7,348,000 after buying an additional 5,814 shares in the last quarter. Lecap Asset Management Ltd. purchased a new stake in shares of SBA Communications in the fourth quarter worth $2,122,000. Finally, Wakefield Asset Management LLLP raised its position in shares of SBA Communications by 11.0% in the fourth quarter. Wakefield Asset Management LLLP now owns 13,964 shares of the technology company’s stock worth $3,543,000 after buying an additional 1,389 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Trading Down 0.9 %

Shares of NASDAQ:SBAC opened at $196.23 on Friday. The stock’s 50-day moving average price is $210.01 and its 200-day moving average price is $222.70. SBA Communications Co. has a 12-month low of $185.23 and a 12-month high of $263.08. The stock has a market capitalization of $21.21 billion, a P/E ratio of 42.57, a price-to-earnings-growth ratio of 1.21 and a beta of 0.56.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data 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). SBA Communications had a net margin of 18.51% and a negative return on equity of 9.70%. The company had revenue of $675.00 million for the quarter, compared to the consensus estimate of $682.11 million. During the same period last year, the business posted $3.11 earnings per share. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. As a group, research analysts predict that SBA Communications Co. will post 12.61 EPS for the current year.

SBA Communications Increases Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SBAC. BMO Capital Markets lowered their price objective 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. Barclays lowered their price objective on SBA Communications from $260.00 to $255.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 17th. Finally, Bank of America upgraded SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price objective on the stock in a research report on Thursday, March 7th. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $268.00.

Insider Activity

In related news, Director Mary S. Chan sold 1,977 shares of the firm’s 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 sale, the director now directly owns 4,622 shares of the company’s stock, valued at $1,007,549.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.30% of the company’s stock.

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.