1,141 Shares in SBA Communications Co. (NASDAQ:SBAC) Purchased by MJP Associates Inc. ADV

MJP Associates Inc. ADV purchased a new stake in SBA Communications Co. (NASDAQ:SBAC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,141 shares of the technology company’s stock, valued at approximately $289,000.

A number of other large investors have also made changes to their positions in SBAC. Invesco Ltd. grew its stake in SBA Communications by 140.6% in the third quarter. Invesco Ltd. now owns 2,143,877 shares of the technology company’s stock valued at $429,140,000 after purchasing an additional 1,252,764 shares in the last quarter. Norges Bank bought a new position in shares of SBA Communications in the 4th quarter valued at about $310,556,000. Ameriprise Financial Inc. raised its holdings in shares of SBA Communications by 115.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,358,037 shares of the technology company’s stock valued at $271,838,000 after purchasing an additional 727,163 shares during the period. Millennium Management LLC lifted its stake in SBA Communications by 294.4% in the 4th quarter. Millennium Management LLC now owns 797,089 shares of the technology company’s stock valued at $223,432,000 after purchasing an additional 594,994 shares during the last quarter. Finally, Bristol John W & Co. Inc. NY bought a new position in SBA Communications during the third quarter worth about $92,725,000. Institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Down 0.6 %

Shares of SBAC stock traded down $1.38 on Thursday, reaching $216.70. The company had a trading volume of 755,886 shares, compared to its average volume of 1,018,577. The business’s 50-day moving average is $217.73 and its 200 day moving average is $222.45. SBA Communications Co. has a one year low of $185.23 and a one year high of $267.42. The stock has a market capitalization of $23.43 billion, a PE ratio of 47.31, a price-to-earnings-growth ratio of 1.31 and a beta of 0.56.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, February 26th. The technology company reported $1.01 earnings per share 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 company’s revenue was down 1.6% compared to the same quarter last year. During the same period last year, the business earned $3.11 EPS. On average, sell-side analysts forecast that SBA Communications Co. will post 12.6 earnings per share for the current fiscal year.

SBA Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th will be paid a dividend of $0.98 per share. The ex-dividend date is Wednesday, March 13th. This represents a $3.92 annualized dividend and a dividend yield of 1.81%. This is an increase from SBA Communications’s previous quarterly dividend of $0.85. SBA Communications’s dividend payout ratio (DPR) is presently 85.03%.

Insider Transactions at SBA Communications

In other news, Director Mary S. Chan sold 1,977 shares of the business’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 transaction, the director now directly owns 4,622 shares of the company’s stock, valued at approximately $1,007,549.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on SBAC shares. KeyCorp lifted their target price on shares of SBA Communications from $251.00 to $276.00 and gave the stock an “overweight” rating in a report on Wednesday, December 6th. BMO Capital Markets decreased their price objective on SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a report on Tuesday, February 27th. 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. Finally, Barclays decreased their price target on shares of SBA Communications from $265.00 to $260.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 5th. One research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, SBA Communications has an average rating of “Buy” and a consensus price target of $271.50.

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.