6,500 Shares in SBA Communications Co. (NASDAQ:SBAC) Purchased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new stake in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,500 shares of the technology company's stock, valued at approximately $1,649,000.

Several other large investors also recently added to or reduced their stakes in the business. NewEdge Wealth LLC bought a new stake in SBA Communications during the fourth quarter valued at approximately $320,000. Friedenthal Financial bought a new stake in SBA Communications during the fourth quarter valued at approximately $755,000. Clarius Group LLC grew its position in SBA Communications by 9.1% during the fourth quarter. Clarius Group LLC now owns 1,226 shares of the technology company's stock valued at $311,000 after buying an additional 102 shares during the period. Cerity Partners LLC grew its position in SBA Communications by 64.7% during the fourth quarter. Cerity Partners LLC now owns 3,609 shares of the technology company's stock valued at $916,000 after buying an additional 1,418 shares during the period. Finally, Capital Square LLC grew its position in SBA Communications by 17.6% during the fourth quarter. Capital Square LLC now owns 1,784 shares of the technology company's stock valued at $453,000 after buying an additional 267 shares during the period. 97.35% of the stock is currently owned by institutional investors.

SBA Communications Price Performance

Shares of SBAC stock traded up $0.11 during mid-day trading on Friday, hitting $196.06. The company had a trading volume of 698,276 shares, compared to its average volume of 835,322. The stock's 50 day moving average price is $211.29 and its 200-day moving average price is $222.53. The company has a market capitalization of $21.20 billion, a P/E ratio of 42.53, a P/E/G ratio of 1.20 and a beta of 0.56. SBA Communications Co. has a 52-week low of $185.23 and a 52-week high of $264.06.

SBA Communications (NASDAQ:SBAC - Get Free Report) last issued its 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). 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 for the quarter, compared to the consensus estimate of $682.11 million. During the same quarter in the previous year, the company earned $3.11 earnings per share. The firm's revenue was down 1.6% on a year-over-year basis. On average, equities research analysts expect that SBA Communications Co. will post 12.61 earnings per share for the current year.

SBA Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid 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 of this dividend was Wednesday, March 13th. SBA Communications's payout ratio is presently 85.03%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Bank of America upgraded shares of SBA Communications from a "neutral" rating to a "buy" rating and set a $260.00 price target for the company in a research report on Thursday, March 7th. Barclays dropped their price target on shares of SBA Communications from $260.00 to $255.00 and set an "overweight" rating for the company in a research report on Wednesday. Finally, BMO Capital Markets dropped their price target on shares of 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 research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, SBA Communications currently has a consensus rating of "Buy" and a consensus target price of $268.00.

Insider Buying and Selling at SBA Communications

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 completion of the sale, the director now directly owns 4,622 shares in the company, valued at approximately $1,007,549.78. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.60% of the company's stock.

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.