Raymond James & Associates Raises Holdings in SBA Communications Co. (NASDAQ:SBAC)

Raymond James & Associates boosted its stake in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 7.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 96,708 shares of the technology company's stock after buying an additional 6,520 shares during the quarter. Raymond James & Associates owned approximately 0.09% of SBA Communications worth $24,534,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. HB Wealth Management LLC purchased a new stake in shares of SBA Communications in the 4th quarter valued at about $364,000. Premier Path Wealth Partners LLC purchased a new position in shares of SBA Communications during the fourth quarter valued at approximately $210,000. SG Americas Securities LLC grew its stake in SBA Communications by 28.8% in the fourth quarter. SG Americas Securities LLC now owns 8,866 shares of the technology company's stock worth $2,249,000 after purchasing an additional 1,985 shares during the period. First Bank & Trust grew its stake in SBA Communications by 29.3% in the fourth quarter. First Bank & Trust now owns 6,727 shares of the technology company's stock worth $1,707,000 after purchasing an additional 1,524 shares during the period. Finally, Raymond James Trust N.A. grew its stake in SBA Communications by 13.4% in the fourth quarter. Raymond James Trust N.A. now owns 2,443 shares of the technology company's stock worth $620,000 after purchasing an additional 288 shares during the period. 97.35% of the stock is owned by hedge funds and other institutional investors.

SBA Communications Stock Down 0.6 %

NASDAQ SBAC traded down $1.38 during trading on Friday, hitting $216.70. 888,827 shares of the stock traded hands, compared to its average volume of 986,705. The company has a market capitalization of $23.43 billion, a P/E ratio of 47.01, a price-to-earnings-growth ratio of 1.33 and a beta of 0.56. The firm has a 50-day simple moving average of $216.83 and a 200-day simple moving average of $222.45. SBA Communications Co. has a 12-month low of $185.23 and a 12-month high of $267.42.

SBA Communications (NASDAQ:SBAC - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $675.00 million during the quarter, compared to the consensus estimate of $682.11 million. SBA Communications had a net margin of 18.51% and a negative return on equity of 9.70%. SBA Communications's revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the previous year, the business earned $3.11 earnings per share. As a group, research analysts predict that SBA Communications Co. will post 12.59 EPS for the current fiscal 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 $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 1.81%. This is a positive change from SBA Communications's previous quarterly dividend of $0.85. The ex-dividend date was Wednesday, March 13th. SBA Communications's dividend payout ratio (DPR) is presently 85.03%.

Analyst Ratings Changes

SBAC has been the topic of a number of recent research reports. Bank of America raised SBA Communications from a "neutral" rating to a "buy" rating and set a $260.00 target price on the stock in a report on Thursday, March 7th. Barclays cut their target price on SBA Communications from $265.00 to $260.00 and set an "overweight" rating for the company in a research report on Tuesday, March 5th. KeyCorp increased their target price on SBA Communications from $251.00 to $276.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 6th. Finally, BMO Capital Markets cut their target price on SBA Communications from $285.00 to $265.00 and set an "outperform" rating for the company in a research report on Tuesday, February 27th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, SBA Communications has an average rating of "Buy" and a consensus target price of $268.38.

Insider Buying and Selling

In related news, Director Mary S. Chan sold 1,977 shares of the firm's stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $217.99, for a total transaction of $430,966.23. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is owned by corporate insiders.

SBA Communications 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.