National Bank of Canada FI Lowers Position in SBA Communications Co. (NASDAQ:SBAC)

National Bank of Canada FI reduced its stake in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 37.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,937 shares of the technology company's stock after selling 25,893 shares during the period. National Bank of Canada FI's holdings in SBA Communications were worth $10,812,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. CVA Family Office LLC acquired a new position in shares of SBA Communications during the fourth quarter worth approximately $37,000. Emerald Advisers LLC acquired a new position in shares of SBA Communications during the 3rd quarter valued at $31,000. Pinnacle Bancorp Inc. lifted its holdings in shares of 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 boosted its stake 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 bought a new stake in SBA Communications in the fourth quarter worth about $43,000. 97.35% of the stock is owned by institutional investors.

Insider Buying and Selling

In other SBA Communications news, Director Mary S. Chan sold 1,977 shares of the firm's stock in a transaction that occurred on 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 in the company, valued at approximately $1,007,549.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is currently owned by insiders.

SBA Communications Trading Up 0.6 %

NASDAQ SBAC traded up $1.26 during trading on Thursday, reaching $198.48. The company's stock had a trading volume of 827,521 shares, compared to its average volume of 1,003,440. The business has a 50-day moving average price of $207.84 and a 200-day moving average price of $222.47. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $258.76. The stock has a market capitalization of $21.46 billion, a PE ratio of 38.92, a PEG ratio of 0.57 and a beta of 0.59.

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

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Thursday, May 23rd will be paid a $0.98 dividend. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $3.92 annualized dividend and a dividend yield of 1.98%. SBA Communications's payout ratio is 76.86%.

Wall Street Analysts Forecast Growth

SBAC has been the topic of several recent research reports. Citigroup lowered their price objective on shares of SBA Communications from $290.00 to $260.00 and set a "buy" rating on the stock in a research note on Tuesday, April 30th. BMO Capital Markets decreased their price target on SBA Communications from $285.00 to $265.00 and set an "outperform" rating for the company in a research report on Tuesday, February 27th. Bank of America upgraded SBA Communications from a "neutral" rating to a "buy" rating and set a $260.00 price objective on the stock in a report on Thursday, March 7th. KeyCorp dropped 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 report on Tuesday, April 30th. Finally, Barclays decreased their price objective on shares of SBA Communications from $255.00 to $241.00 and set an "overweight" rating for the company in a research note on Tuesday, April 30th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $252.25.

About SBA Communications

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.