Mackenzie Financial Corp Trims Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Mackenzie Financial Corp decreased its holdings in SBA Communications Co. (NASDAQ:SBAC) by 4.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,590 shares of the technology company’s stock after selling 409 shares during the period. Mackenzie Financial Corp’s holdings in SBA Communications were worth $2,433,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its position in SBA Communications by 0.8% in the 3rd quarter. Principal Financial Group Inc. now owns 2,801,806 shares of the technology company’s stock valued at $560,838,000 after buying an additional 21,792 shares during the period. Invesco Ltd. raised its stake in shares of SBA Communications by 140.6% during the third quarter. Invesco Ltd. now owns 2,143,877 shares of the technology company’s stock valued at $429,140,000 after acquiring an additional 1,252,764 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of SBA Communications by 115.3% in the third quarter. Ameriprise Financial Inc. now owns 1,358,037 shares of the technology company’s stock valued at $271,838,000 after purchasing an additional 727,163 shares during the period. Northern Trust Corp grew its stake in SBA Communications by 1.0% in the third quarter. Northern Trust Corp now owns 1,209,592 shares of the technology company’s stock worth $242,124,000 after purchasing an additional 12,450 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in SBA Communications by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,133,898 shares of the technology company’s stock worth $226,972,000 after purchasing an additional 6,131 shares during the period. 97.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Barclays lowered their target price on SBA Communications from $260.00 to $255.00 and set an “overweight” rating for the company in a report on Wednesday, April 17th. Bank of America raised shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price objective for the company in a research note on Thursday, March 7th. Finally, BMO Capital Markets cut their target price 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. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $268.00.

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 dated Tuesday, March 5th. The stock was sold at an average price of $217.99, for a total value of $430,966.23. Following the completion of the sale, the director now owns 4,622 shares of the company’s stock, valued at $1,007,549.78. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

SBA Communications Stock Performance

NASDAQ:SBAC opened at $196.80 on Tuesday. The company’s 50-day simple moving average is $210.91 and its 200-day simple moving average is $222.79. SBA Communications Co. has a fifty-two week low of $185.23 and a fifty-two week high of $263.08. The stock has a market capitalization of $21.28 billion, a P/E ratio of 42.69, a P/E/G ratio of 1.20 and a beta of 0.56.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, February 26th. The technology company reported $1.01 EPS 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 firm had revenue of $675.00 million for the quarter, compared to analysts’ expectations of $682.11 million. During the same period in the previous year, the company earned $3.11 EPS. The company’s revenue was down 1.6% on a year-over-year basis. On average, research analysts forecast that SBA Communications Co. will post 12.61 EPS for the current year.

SBA Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a $0.98 dividend. This is a boost 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 dividend on an annualized basis and a dividend yield of 1.99%. SBA Communications’s dividend payout ratio (DPR) is presently 85.03%.

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.