Ninepoint Partners LP Takes $1.41 Million Position in SBA Communications Co. (NASDAQ:SBAC)

Ninepoint Partners LP acquired a new stake in shares of SBA Communications Co. (NASDAQ:SBAC) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 5,542 shares of the technology company’s stock, valued at approximately $1,406,000. SBA Communications accounts for about 0.2% of Ninepoint Partners LP’s portfolio, making the stock its 21st largest holding.

Other hedge funds have also recently modified their holdings of the company. Carolinas Wealth Consulting LLC grew its position in shares of 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 acquiring an additional 62 shares during the period. Emerald Advisers LLC bought a new position in SBA Communications in the 3rd quarter worth $31,000. Resurgent Financial Advisors LLC bought a new position in SBA Communications in the 4th quarter worth $31,000. CVA Family Office LLC bought a new position in SBA Communications in the 4th quarter worth $37,000. Finally, Ancora Advisors LLC boosted its holdings in SBA Communications by 88.6% in the 1st quarter. Ancora Advisors LLC now owns 132 shares of the technology company’s stock worth $37,000 after buying an additional 62 shares during the period. Institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Down 0.1 %

SBA Communications stock traded down $0.23 during midday trading on Friday, reaching $195.72. The stock had a trading volume of 205,825 shares, compared to its average volume of 988,178. SBA Communications Co. has a 52-week low of $185.23 and a 52-week high of $264.06. The firm has a market cap of $21.16 billion, a price-to-earnings ratio of 42.51, a price-to-earnings-growth ratio of 1.21 and a beta of 0.56. The company has a fifty day moving average of $211.72 and a 200 day moving average of $222.32.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings data on Monday, February 26th. The technology company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.36). SBA Communications had a negative return on equity of 9.70% and a net margin of 18.51%. The firm had revenue of $675.00 million during the quarter, compared to analysts’ expectations of $682.11 million. During the same period last year, the company earned $3.11 earnings per share. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. Equities research analysts predict that SBA Communications Co. will post 12.61 EPS for the current year.

SBA Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a $0.98 dividend. This is a positive change from SBA Communications’s previous quarterly dividend of $0.85. This represents a $3.92 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date was Wednesday, March 13th. SBA Communications’s dividend payout ratio is 85.03%.

Insiders Place Their Bets

In other SBA Communications news, Director Mary S. Chan sold 1,977 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were 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 in the company, valued at approximately $1,007,549.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Barclays dropped their target price on shares of SBA Communications from $260.00 to $255.00 and set an “overweight” rating for the company in a report on Wednesday. BMO Capital Markets dropped their target price on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a report on Tuesday, February 27th. Finally, Bank of America raised shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 target price for the company in a report on Thursday, March 7th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price 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.