Lecap Asset Management Ltd. Purchases Shares of 8,364 SBA Communications Co. (NASDAQ:SBAC)

Lecap Asset Management Ltd. purchased a new stake in SBA Communications Co. (NASDAQ:SBAC - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 8,364 shares of the technology company's stock, valued at approximately $2,122,000. SBA Communications makes up about 0.8% of Lecap Asset Management Ltd.'s portfolio, making the stock its 28th largest position.

Other hedge funds have also modified their holdings of the company. Nordea Investment Management AB raised its holdings in shares of SBA Communications by 6.3% in the 4th quarter. Nordea Investment Management AB now owns 272,065 shares of the technology company's stock worth $68,854,000 after buying an additional 16,244 shares in the last quarter. Legacy Trust acquired a new position in SBA Communications in the fourth quarter valued at about $3,256,000. Natixis Advisors L.P. lifted its holdings 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 valued at $7,348,000 after purchasing an additional 5,814 shares in the last quarter. Wakefield Asset Management LLLP lifted its holdings 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 valued at $3,543,000 after purchasing an additional 1,389 shares in the last quarter. Finally, Aurora Investment Counsel lifted its holdings in shares of SBA Communications by 8.3% in the third quarter. Aurora Investment Counsel now owns 6,248 shares of the technology company's stock valued at $1,251,000 after purchasing an additional 480 shares in the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SBAC shares. Barclays lowered their price target on SBA Communications from $265.00 to $260.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 5th. BMO Capital Markets reduced their price target 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. Finally, Bank of America raised SBA Communications from a "neutral" rating to a "buy" rating and set a $260.00 price target on the stock in a research report on Thursday, March 7th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus 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 business'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 value of $430,966.23. Following the completion of the sale, the director now owns 4,622 shares in the company, valued at approximately $1,007,549.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.60% of the stock is currently owned by insiders.

SBA Communications Trading Down 1.6 %

SBA Communications stock traded down $3.20 during trading on Friday, hitting $201.84. 872,520 shares of the company were exchanged, compared to its average volume of 840,365. The business's 50 day moving average is $213.36 and its 200 day moving average is $222.53. SBA Communications Co. has a 52 week low of $185.23 and a 52 week high of $267.42. The company has a market capitalization of $21.82 billion, a P/E ratio of 43.78, a PEG ratio of 1.25 and a beta of 0.56.

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 for the quarter, missing the consensus estimate 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 business had revenue of $675.00 million during the quarter, compared to analysts' expectations of $682.11 million. During the same period in the prior year, the firm posted $3.11 EPS. The firm's revenue for the quarter was down 1.6% on a year-over-year basis. Equities analysts expect 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. Investors of record on Thursday, March 14th were issued a dividend of $0.98 per share. This is a boost from SBA Communications's previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $3.92 dividend on an annualized basis and a yield of 1.94%. SBA Communications's dividend payout ratio is 85.03%.

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.