Clearbridge Investments LLC Acquires 12,231 Shares of SBA Communications Co. (NASDAQ:SBAC)

Clearbridge Investments LLC lifted its holdings in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 4.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 303,627 shares of the technology company's stock after purchasing an additional 12,231 shares during the period. Clearbridge Investments LLC owned about 0.28% of SBA Communications worth $77,027,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in SBAC. Invesco Ltd. boosted its holdings in shares of SBA Communications by 140.6% in the third quarter. Invesco Ltd. now owns 2,143,877 shares of the technology company's stock worth $429,140,000 after buying an additional 1,252,764 shares during the period. Norges Bank acquired a new stake in shares of SBA Communications during the fourth quarter worth approximately $286,079,000. Ameriprise Financial Inc. boosted its holdings in shares of SBA Communications by 115.3% during the third quarter. Ameriprise Financial Inc. now owns 1,358,037 shares of the technology company's stock worth $271,838,000 after purchasing an additional 727,163 shares during the period. Bristol John W & Co. Inc. NY acquired a new stake in shares of SBA Communications during the third quarter worth approximately $92,725,000. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of SBA Communications by 9.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,958,156 shares of the technology company's stock worth $496,765,000 after purchasing an additional 166,554 shares during the period. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related 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 transaction, the director now owns 4,622 shares of the company's stock, valued at $1,007,549.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is currently owned by insiders.

SBA Communications Stock Down 2.3 %

Shares of NASDAQ:SBAC traded down $4.60 during trading on Wednesday, reaching $193.77. The stock had a trading volume of 1,016,000 shares, compared to its average volume of 991,526. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $258.76. The firm has a market capitalization of $20.82 billion, a price-to-earnings ratio of 38.90, a P/E/G ratio of 0.59 and a beta of 0.59. The stock has a fifty day simple moving average of $204.75 and a two-hundred day simple moving average of $222.15.

SBA Communications (NASDAQ:SBAC - Get Free Report) last released its quarterly earnings results on Monday, April 29th. The technology company reported $1.42 EPS for the quarter, beating 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 company had revenue of $657.86 million for the quarter, compared to analyst estimates of $671.08 million. During the same quarter last year, the firm posted $3.13 earnings per share. The company's quarterly revenue was down 2.6% compared to the same quarter last year. On average, analysts forecast that SBA Communications Co. will post 12.53 EPS for the current year.

SBA Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Thursday, May 23rd will be given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Wednesday, May 22nd. SBA Communications's dividend payout ratio (DPR) is currently 76.86%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Royal Bank of Canada decreased their price target on shares of SBA Communications from $250.00 to $235.00 and set an "outperform" rating for the company in a report on Thursday, May 9th. Barclays decreased their price target on shares of SBA Communications from $255.00 to $241.00 and set an "overweight" rating for the company in a report on Tuesday, April 30th. KeyCorp cut their price objective 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. Wells Fargo & Company cut their price objective on shares of SBA Communications from $260.00 to $230.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 30th. Finally, BMO Capital Markets cut their price objective on shares of SBA Communications from $285.00 to $265.00 and set an "outperform" rating on the stock in a research report on Tuesday, February 27th. Eleven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, SBA Communications has a consensus rating of "Buy" and an average target price of $252.25.

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.