Swiss National Bank Sells 9,500 Shares of SBA Communications Co. (NASDAQ:SBAC)

Swiss National Bank reduced its holdings in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 2.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 339,000 shares of the technology company's stock after selling 9,500 shares during the quarter. Swiss National Bank owned approximately 0.31% of SBA Communications worth $86,001,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

SBAC has been the topic of a number of research reports. KeyCorp cut their target price on shares of SBA Communications from $276.00 to $227.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 30th. Wells Fargo & Company decreased their target price on SBA Communications from $260.00 to $230.00 and set an "overweight" rating for the company in a research report on Tuesday, April 30th. BMO Capital Markets lowered their target price on SBA Communications from $285.00 to $265.00 and set an "outperform" rating for the company in a research note on Tuesday, February 27th. 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. Finally, TD Cowen lowered their price objective on shares of SBA Communications from $266.00 to $253.00 and set a "buy" rating for the company in a research report on Tuesday, April 30th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, SBA Communications presently has an average rating of "Buy" and an average price target of $258.23.

Insider Activity at SBA Communications

In other SBA Communications news, Director Mary S. Chan sold 1,977 shares of the business's stock in a transaction 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 owns 4,622 shares in the company, valued at $1,007,549.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.30% of the company's stock.

SBA Communications Trading Down 0.4 %

NASDAQ SBAC traded down $0.78 during trading hours on Friday, reaching $193.09. 1,072,792 shares of the company traded hands, compared to its average volume of 940,862. The company has a 50 day moving average of $208.38 and a two-hundred day moving average of $222.60. The stock has a market capitalization of $20.87 billion, a PE ratio of 37.86, a PEG ratio of 1.19 and a beta of 0.59. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $258.76.

SBA Communications (NASDAQ:SBAC - Get Free Report) last posted its quarterly earnings results on Monday, April 29th. The technology company reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.21 by $0.21. The business had revenue of $657.86 million during the quarter, compared to the consensus estimate of $671.08 million. SBA Communications had a negative return on equity of 10.75% and a net margin of 20.61%. During the same period last year, the firm earned $3.13 earnings per share. The company's revenue for the quarter was down 2.6% compared to the same quarter last year. On average, equities research analysts anticipate that SBA Communications Co. will post 12.53 earnings per share for the current year.

SBA Communications Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Thursday, May 23rd will be issued a $0.98 dividend. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.03%. SBA Communications's dividend payout ratio (DPR) is 76.86%.

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.