Mutual of America Capital Management LLC Sells 96 Shares of SBA Communications Co. (NASDAQ:SBAC)

Mutual of America Capital Management LLC decreased its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 0.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,720 shares of the technology company’s stock after selling 96 shares during the quarter. Mutual of America Capital Management LLC’s holdings in SBA Communications were worth $4,495,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Capital Square LLC increased its stake in shares of SBA Communications by 17.6% in the 4th quarter. Capital Square LLC now owns 1,784 shares of the technology company’s stock valued at $453,000 after acquiring an additional 267 shares in the last quarter. Quaero Capital S.A. increased its stake in shares of SBA Communications by 1.4% in the 4th quarter. Quaero Capital S.A. now owns 3,730 shares of the technology company’s stock valued at $946,000 after acquiring an additional 50 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of SBA Communications by 38.4% in the 4th quarter. Sequoia Financial Advisors LLC now owns 4,159 shares of the technology company’s stock valued at $1,055,000 after acquiring an additional 1,154 shares in the last quarter. Tobam increased its stake in shares of SBA Communications by 83.3% in the 4th quarter. Tobam now owns 1,404 shares of the technology company’s stock valued at $356,000 after acquiring an additional 638 shares in the last quarter. Finally, Schwartz Investment Counsel Inc. increased its stake in shares of SBA Communications by 28.4% in the 4th quarter. Schwartz Investment Counsel Inc. now owns 249,000 shares of the technology company’s stock valued at $63,169,000 after acquiring an additional 55,000 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on SBAC shares. Bank of America upgraded shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price target for the company in a research note on Thursday, March 7th. Barclays decreased their price target on shares of SBA Communications from $265.00 to $260.00 and set an “overweight” rating for the company in a research note on Tuesday, March 5th. Finally, BMO Capital Markets decreased their price target on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a research note on Tuesday, February 27th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, SBA Communications currently has a consensus rating of “Buy” and an average target price of $268.38.

Insider Buying and Selling

In related news, Director Mary S. Chan sold 1,977 shares of the business’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total value of $430,966.23. Following the transaction, the director now directly owns 4,622 shares of the company’s stock, valued at approximately $1,007,549.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.60% of the stock is owned by insiders.

SBA Communications Price Performance

SBAC opened at $199.86 on Tuesday. The company has a market capitalization of $21.61 billion, a price-to-earnings ratio of 43.35, a P/E/G ratio of 1.23 and a beta of 0.56. The firm’s fifty day moving average price is $213.01 and its two-hundred day moving average price is $222.72. SBA Communications Co. has a 1 year low of $185.23 and a 1 year high of $266.77.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, February 26th. The technology company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.36). The company had revenue of $675.00 million during the quarter, compared to analysts’ expectations of $682.11 million. SBA Communications had a negative return on equity of 9.70% and a net margin of 18.51%. SBA Communications’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period last year, the firm posted $3.11 earnings per share. As a group, equities analysts anticipate that SBA Communications Co. will post 12.6 EPS for the current year.

SBA Communications Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.98 dividend. This is an increase from SBA Communications’s previous quarterly dividend of $0.85. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date was Wednesday, March 13th. SBA Communications’s payout ratio is 85.03%.

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.