Clearstead Trust LLC Takes $515,000 Position in SBA Communications Co. (NASDAQ:SBAC)

Clearstead Trust LLC acquired a new position in shares of SBA Communications Co. (NASDAQ:SBAC) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,032 shares of the technology company’s stock, valued at approximately $515,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Emerald Advisers LLC acquired a new position in shares of SBA Communications during the 3rd quarter worth about $31,000. CVA Family Office LLC acquired a new stake in shares of SBA Communications in the 4th quarter worth $37,000. Pinnacle Bancorp Inc. raised 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 acquiring an additional 67 shares during the period. Allworth Financial LP boosted 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 valued at $42,000 after acquiring an additional 45 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in shares of SBA Communications in the fourth quarter valued at about $43,000. 97.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at SBA Communications

In other SBA Communications news, Director Mary S. Chan sold 1,977 shares of the company’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $217.99, for a total transaction of $430,966.23. Following 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 document filed with the SEC, which is available through the SEC website. 1.30% of the stock is currently owned by company insiders.

SBA Communications Trading Down 0.4 %

SBA Communications stock traded down $0.78 during midday trading on Friday, reaching $193.09. 1,072,792 shares of the stock traded hands, compared to its average volume of 940,862. The firm has a market cap of $20.87 billion, a PE ratio of 37.86, a price-to-earnings-growth ratio of 1.20 and a beta of 0.59. The company has a 50-day simple moving average of $208.38 and a two-hundred day simple moving average of $222.25. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $258.76.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings data on Monday, April 29th. The technology company reported $1.42 EPS for the quarter, beating 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 business had revenue of $657.86 million during 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 business’s revenue for the quarter was down 2.6% compared to the same quarter last year. Equities research analysts anticipate that SBA Communications Co. will post 12.56 earnings per share for the current year.

SBA Communications Dividend Announcement

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. This represents a $3.92 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Wednesday, May 22nd. SBA Communications’s payout ratio is currently 76.86%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SBAC. Wells Fargo & Company reduced their target price on shares of SBA Communications from $260.00 to $230.00 and set an “overweight” rating on the stock in a research note on Tuesday. Citigroup lowered their price objective on SBA Communications from $290.00 to $260.00 and set a “buy” rating for the company in a research report on Tuesday. KeyCorp reduced their target price on SBA Communications from $276.00 to $227.00 and set an “overweight” rating on the stock in a research report on Tuesday. TD Cowen lowered their price target on SBA Communications from $266.00 to $253.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Barclays reduced their price objective on shares of SBA Communications from $255.00 to $241.00 and set an “overweight” rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $258.23.

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.