Ninepoint Partners LP Purchases Shares of 5,542 SBA Communications Co. (NASDAQ:SBAC)

Ninepoint Partners LP purchased a new position in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,542 shares of the technology company's stock, valued at approximately $1,406,000. SBA Communications accounts for approximately 0.2% of Ninepoint Partners LP's investment portfolio, making the stock its 21st biggest holding.

A number of other large investors also recently made changes to their positions in the business. Carolinas Wealth Consulting LLC increased its holdings in SBA Communications by 248.0% in the 1st quarter. Carolinas Wealth Consulting LLC now owns 87 shares of the technology company's stock valued at $30,000 after purchasing an additional 62 shares in the last quarter. Emerald Advisers LLC acquired a new position in SBA Communications in the third quarter worth about $31,000. Resurgent Financial Advisors LLC acquired a new position in SBA Communications in the fourth quarter worth about $31,000. CVA Family Office LLC acquired a new position in SBA Communications in the fourth quarter worth about $37,000. Finally, Ancora Advisors LLC grew its stake in SBA Communications by 88.6% in the first quarter. Ancora Advisors LLC now owns 132 shares of the technology company's stock worth $37,000 after purchasing an additional 62 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SBAC shares. Bank of America upgraded SBA Communications from a "neutral" rating to a "buy" rating and set a $260.00 price target for the company in a research note on Thursday, March 7th. Barclays cut their target price on shares of SBA Communications from $260.00 to $255.00 and set an "overweight" rating on the stock in a report on Wednesday. Finally, BMO Capital Markets cut their target price on shares of SBA Communications from $285.00 to $265.00 and set an "outperform" rating on the stock in a report on Tuesday, February 27th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, SBA Communications currently has an average rating of "Buy" and an average price target of $268.00.

Insiders Place Their Bets

In other SBA Communications news, Director Mary S. Chan sold 1,977 shares of SBA Communications stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.60% of the company's stock.

SBA Communications Stock Up 0.1 %

SBA Communications stock traded up $0.11 during mid-day trading on Friday, hitting $196.06. The company's stock had a trading volume of 698,275 shares, compared to its average volume of 994,885. The stock has a market capitalization of $21.20 billion, a P/E ratio of 42.51, a P/E/G ratio of 1.21 and a beta of 0.56. SBA Communications Co. has a twelve month low of $185.23 and a twelve month high of $264.06. The stock's fifty day moving average price is $211.72 and its two-hundred day moving average price is $222.32.

SBA Communications (NASDAQ:SBAC - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $675.00 million during the quarter, compared to analyst estimates of $682.11 million. SBA Communications had a negative return on equity of 9.70% and a net margin of 18.51%. The company's quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted $3.11 EPS. Equities analysts expect that SBA Communications Co. will post 12.61 earnings per share for the current year.

SBA Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 2.00%. This is a boost from SBA Communications's previous quarterly dividend of $0.85. The ex-dividend date was Wednesday, March 13th. SBA Communications's payout ratio is presently 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.