SBA Communications Co. (NASDAQ:SBAC) Holdings Raised by Franklin Resources Inc.

Franklin Resources Inc. raised its holdings in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 2.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 707,743 shares of the technology company's stock after purchasing an additional 19,462 shares during the quarter. Franklin Resources Inc. owned 0.66% of SBA Communications worth $179,547,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of SBAC. CVA Family Office LLC acquired a new stake in shares of SBA Communications during the 4th quarter valued at $37,000. Pinnacle Bancorp Inc. increased its position in SBA Communications by 73.6% in the 4th quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company's stock valued at $40,000 after buying an additional 67 shares in the last quarter. Allworth Financial LP increased its position in SBA Communications by 37.8% in the 4th 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. Turtle Creek Wealth Advisors LLC bought a new stake in SBA Communications in the 4th quarter valued at about $43,000. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its position in SBA Communications by 67.9% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 225 shares of the technology company's stock valued at $57,000 after buying an additional 91 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company's stock.

Insider Buying and Selling at SBA Communications

In other news, Director Mary S. Chan sold 1,977 shares of the stock in a transaction dated 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 directly owns 4,622 shares in the company, valued at $1,007,549.78. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.30% of the company's stock.

Analysts Set New Price Targets

SBAC has been the subject of a number of research analyst reports. KeyCorp decreased their target price on SBA Communications from $276.00 to $227.00 and set an "overweight" rating for the company in a research report on Tuesday, April 30th. BMO Capital Markets cut 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. Citigroup cut their target price on SBA Communications from $290.00 to $260.00 and set a "buy" rating on the stock in a research note on Tuesday, April 30th. TD Cowen lowered their price target on shares of SBA Communications from $266.00 to $253.00 and set a "buy" rating on the stock in a report on Tuesday, April 30th. Finally, StockNews.com raised shares of SBA Communications from a "hold" rating to a "buy" rating in a report on Wednesday, May 15th. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, SBA Communications presently has an average rating of "Buy" and a consensus target price of $252.25.

SBA Communications Trading Down 2.6 %

Shares of SBA Communications stock traded down $4.98 during trading on Thursday, hitting $188.79. The stock had a trading volume of 730,854 shares, compared to its average volume of 988,920. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $258.76. The business's 50-day moving average is $204.23 and its 200 day moving average is $221.96. The firm has a market cap of $20.28 billion, a price-to-earnings ratio of 37.02, a P/E/G ratio of 0.63 and a beta of 0.59.

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, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $671.08 million. During the same period in the previous year, the business earned $3.13 earnings per share. The firm's quarterly revenue was down 2.6% compared to the same quarter last year. As a group, equities analysts expect that SBA Communications Co. will post 12.53 EPS for the current year.

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Thursday, May 23rd will be given a dividend of $0.98 per share. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $3.92 annualized dividend and a yield of 2.08%. SBA Communications's payout ratio is 76.86%.

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.