Duff & Phelps Investment Management Co. Purchases 23,135 Shares of SBA Communications Co. (NASDAQ:SBAC)

Duff & Phelps Investment Management Co. boosted its stake in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 11.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 221,087 shares of the technology company's stock after acquiring an additional 23,135 shares during the period. Duff & Phelps Investment Management Co. owned 0.20% of SBA Communications worth $56,088,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SBAC. Emerald Advisers LLC bought a new position in shares of SBA Communications in the 3rd quarter worth about $31,000. CVA Family Office LLC acquired a new position in SBA Communications in the fourth quarter valued at approximately $37,000. Pinnacle Bancorp Inc. boosted its holdings in shares of SBA Communications by 73.6% during the 4th quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company's stock worth $40,000 after buying an additional 67 shares in the last quarter. Allworth Financial LP grew its position in shares of SBA Communications by 37.8% during the 4th quarter. Allworth Financial LP now owns 164 shares of the technology company's stock worth $42,000 after buying an additional 45 shares during the period. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in shares of SBA Communications in the 4th quarter valued at $43,000. 97.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SBAC has been the topic of several research analyst reports. TD Cowen cut their target price on shares of SBA Communications from $266.00 to $253.00 and set a "buy" rating on the stock in a research note on Tuesday. KeyCorp reduced their target price on SBA Communications from $276.00 to $227.00 and set an "overweight" rating for the company in a research note on Tuesday. BMO Capital Markets dropped their price target 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. Barclays reduced their price objective on SBA Communications from $255.00 to $241.00 and set an "overweight" rating for the company in a research note on Tuesday. Finally, Wells Fargo & Company lowered their target price on SBA Communications from $260.00 to $230.00 and set an "overweight" rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $258.23.

Insider Buying and Selling

In related news, Director Mary S. Chan sold 1,977 shares of SBA Communications 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 completion of the sale, the director now owns 4,622 shares of the company's stock, valued at approximately $1,007,549.78. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.30% of the stock is currently owned by insiders.

SBA Communications Trading Down 7.8 %

Shares of SBAC stock traded down $15.77 during trading on Tuesday, hitting $186.12. The company's stock had a trading volume of 2,540,040 shares, compared to its average volume of 1,000,188. The business has a fifty day moving average of $209.91 and a 200-day moving average of $222.86. The company has a market cap of $20.12 billion, a PE ratio of 41.13, a P/E/G ratio of 1.21 and a beta of 0.56. SBA Communications Co. has a 52 week low of $185.23 and a 52 week high of $263.08.

SBA Communications (NASDAQ:SBAC - Get Free Report) last announced its earnings results on Monday, April 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.21. The firm had revenue of $657.86 million during the quarter, compared to analyst estimates of $671.08 million. SBA Communications had a negative return on equity of 9.70% and a net margin of 18.51%. The business's revenue was down 2.6% compared to the same quarter last year. During the same period last year, the firm posted $3.13 EPS. As a group, research analysts predict that SBA Communications Co. will post 12.61 EPS for the current year.

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Thursday, May 23rd will be issued a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.11%. SBA Communications's dividend payout ratio (DPR) 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.