B. Riley Wealth Advisors Inc. Sells 252 Shares of SBA Communications Co. (NASDAQ:SBAC)

B. Riley Wealth Advisors Inc. trimmed its stake in SBA Communications Co. (NASDAQ:SBAC) by 14.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,529 shares of the technology company’s stock after selling 252 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in SBA Communications were worth $388,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of SBAC. Norges Bank bought a new stake in SBA Communications in the fourth quarter valued at $286,079,000. Ameriprise Financial Inc. grew its position in 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 acquiring an additional 727,163 shares during the period. The Manufacturers Life Insurance Company grew its position in SBA Communications by 111.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 734,795 shares of the technology company’s stock valued at $186,410,000 after acquiring an additional 387,855 shares during the period. Westfield Capital Management Co. LP bought a new stake in SBA Communications in the fourth quarter valued at $53,679,000. Finally, Kodai Capital Management LP bought a new stake in shares of SBA Communications during the fourth quarter worth $51,311,000. 97.35% of the stock is currently owned by institutional investors.

SBA Communications Trading Up 1.3 %

NASDAQ:SBAC opened at $197.17 on Tuesday. The firm has a market capitalization of $21.18 billion, a price-to-earnings ratio of 38.66, a PEG ratio of 0.61 and a beta of 0.65. The business’s 50-day moving average price is $195.00 and its two-hundred day moving average price is $215.01. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $258.76.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, April 29th. The technology company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.21. The company had revenue of $657.86 million for the quarter, compared to analyst estimates of $671.08 million. SBA Communications had a negative return on equity of 10.75% and a net margin of 20.61%. SBA Communications’s revenue was down 2.6% compared to the same quarter last year. During the same quarter last year, the firm posted $3.13 earnings per share. Sell-side analysts predict that SBA Communications Co. will post 12.52 earnings per share for the current year.

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Thursday, May 23rd were given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date was Wednesday, May 22nd. SBA Communications’s dividend payout ratio is currently 76.86%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SBAC shares. BMO Capital Markets decreased their target price on SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a report on Tuesday, February 27th. Citigroup decreased their target price on SBA Communications from $290.00 to $260.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. KeyCorp decreased their target price on SBA Communications from $276.00 to $227.00 and set an “overweight” rating on the stock in a report on Tuesday, April 30th. Bank of America upgraded SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 target price on the stock in a report on Thursday, March 7th. Finally, Barclays cut their price target on SBA Communications from $241.00 to $240.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Eleven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $252.17.

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.