SBA Communications Co. (NASDAQ:SBAC) Shares Purchased by Russell Investments Group Ltd.

Russell Investments Group Ltd. boosted its stake in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 8.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 484,332 shares of the technology company's stock after buying an additional 39,307 shares during the period. Russell Investments Group Ltd. owned 0.45% of SBA Communications worth $122,883,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Golden State Equity Partners acquired a new position in shares of SBA Communications in the 4th quarter valued at $292,000. Atria Wealth Solutions Inc. lifted its stake in shares of SBA Communications by 50.9% in the 4th quarter. Atria Wealth Solutions Inc. now owns 3,179 shares of the technology company's stock valued at $807,000 after purchasing an additional 1,072 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of SBA Communications in the 4th quarter valued at $77,000. GAMMA Investing LLC acquired a new position in shares of SBA Communications in the 4th quarter valued at $169,000. Finally, Marks Group Wealth Management Inc lifted its stake in shares of SBA Communications by 4.4% in the 4th quarter. Marks Group Wealth Management Inc now owns 1,274 shares of the technology company's stock valued at $323,000 after purchasing an additional 54 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company's stock.

Wall Street Analysts Forecast Growth

SBAC has been the topic of several recent analyst reports. 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 note on Thursday, March 7th. Barclays decreased their target price on SBA Communications from $260.00 to $255.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 17th. Finally, BMO Capital Markets decreased their target price on SBA Communications from $285.00 to $265.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 27th. One 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 data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $268.00.

SBA Communications Stock Down 0.9 %

NASDAQ SBAC traded down $1.70 during trading hours on Friday, hitting $196.23. 644,235 shares of the company were exchanged, compared to its average volume of 826,238. The company has a 50 day moving average of $210.01 and a two-hundred day moving average of $222.85. SBA Communications Co. has a 52-week low of $185.23 and a 52-week high of $263.08. The firm has a market cap of $21.21 billion, a price-to-earnings ratio of 42.57, a PEG ratio of 1.21 and a beta of 0.56.

SBA Communications (NASDAQ:SBAC - Get Free Report) last issued its quarterly earnings results 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 company had revenue of $675.00 million for the quarter, compared to analysts' expectations of $682.11 million. During the same quarter last year, the company earned $3.11 EPS. SBA Communications's revenue for the quarter was down 1.6% compared to the same quarter last year. On average, equities research analysts predict that SBA Communications Co. will post 12.61 EPS for the current year.

SBA Communications Increases Dividend

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

Insider Activity

In other news, Director Mary S. Chan sold 1,977 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $217.99, for a total value of $430,966.23. Following the transaction, the director now owns 4,622 shares in the company, valued at approximately $1,007,549.78. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.30% of the company's stock.

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.