Sumitomo Mitsui Trust Holdings Inc. Sells 4,148 Shares of SBA Communications Co. (NASDAQ:SBAC)

Sumitomo Mitsui Trust Holdings Inc. reduced its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 1.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 225,919 shares of the technology company’s stock after selling 4,148 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.21% of SBA Communications worth $57,313,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Raymond James Trust N.A. boosted its stake in SBA Communications by 19.0% in the 1st quarter. Raymond James Trust N.A. now owns 1,925 shares of the technology company’s stock worth $662,000 after purchasing an additional 307 shares during the period. Vontobel Holding Ltd. boosted its position in shares of SBA Communications by 19.6% during the first quarter. Vontobel Holding Ltd. now owns 2,987 shares of the technology company’s stock worth $1,024,000 after buying an additional 489 shares during the period. Prudential PLC bought a new position in shares of SBA Communications during the first quarter worth about $568,000. Sequoia Financial Advisors LLC acquired a new stake in SBA Communications in the 1st quarter valued at approximately $234,000. Finally, Zions Bancorporation N.A. lifted its stake in SBA Communications by 157.6% in the 1st quarter. Zions Bancorporation N.A. now owns 322 shares of the technology company’s stock valued at $111,000 after acquiring an additional 197 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SBAC. Bank of America raised 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. BMO Capital Markets lowered their price target on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 27th. Finally, Barclays reduced their price objective on shares of SBA Communications from $260.00 to $255.00 and set an “overweight” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $268.00.

SBA Communications Stock Down 0.1 %

NASDAQ:SBAC opened at $195.95 on Friday. SBA Communications Co. has a 12-month low of $185.23 and a 12-month high of $266.77. The firm has a market capitalization of $21.18 billion, a price-to-earnings ratio of 42.51, a P/E/G ratio of 1.21 and a beta of 0.56. The stock’s 50 day moving average price is $211.72 and its two-hundred day moving average price is $222.32.

SBA Communications (NASDAQ:SBAC) last posted 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). SBA Communications had a net margin of 18.51% and a negative return on equity of 9.70%. The business had revenue of $675.00 million during the quarter, compared to the consensus estimate of $682.11 million. During the same quarter last year, the company posted $3.11 EPS. The firm’s revenue was down 1.6% on a year-over-year basis. Equities research analysts expect that SBA Communications Co. will post 12.61 EPS for the current year.

SBA Communications Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $0.98 per share. This is an increase from SBA Communications’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $3.92 annualized dividend and a dividend yield of 2.00%. SBA Communications’s payout ratio is presently 85.03%.

Insider Activity at SBA Communications

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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is owned by company insiders.

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.