Sanctuary Advisors LLC Raises Stock Position in SBA Communications Co. (NASDAQ:SBAC)

Sanctuary Advisors LLC increased its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 31.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,471 shares of the technology company’s stock after purchasing an additional 1,799 shares during the period. Sanctuary Advisors LLC’s holdings in SBA Communications were worth $1,488,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in SBAC. Oak Thistle LLC boosted its position in shares of SBA Communications by 76.1% in the fourth quarter. Oak Thistle LLC now owns 6,623 shares of the technology company’s stock worth $1,350,000 after buying an additional 2,863 shares during the period. Czech National Bank boosted its holdings in SBA Communications by 6.5% in the 4th quarter. Czech National Bank now owns 23,314 shares of the technology company’s stock worth $4,751,000 after acquiring an additional 1,421 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its position in SBA Communications by 14,529.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 251,328 shares of the technology company’s stock valued at $60,495,000 after acquiring an additional 249,610 shares in the last quarter. First Hawaiian Bank grew its position in SBA Communications by 91.0% in the fourth quarter. First Hawaiian Bank now owns 12,377 shares of the technology company’s stock valued at $2,522,000 after acquiring an additional 5,897 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in shares of SBA Communications by 135.5% during the third quarter. Bank of Montreal Can now owns 420,514 shares of the technology company’s stock valued at $100,351,000 after purchasing an additional 241,916 shares during the period. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SBAC shares. Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Wells Fargo & Company decreased their price objective on shares of SBA Communications from $230.00 to $210.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Raymond James lifted their target price on SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 29th. Barclays reduced their price target on SBA Communications from $254.00 to $240.00 and set an “overweight” rating for the company in a report on Thursday, February 20th. Finally, TD Cowen lifted their price objective on SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, SBA Communications currently has an average rating of “Moderate Buy” and an average target price of $252.00.

SBA Communications Price Performance

Shares of SBAC opened at $212.84 on Tuesday. The stock has a market capitalization of $22.89 billion, a PE ratio of 33.57, a price-to-earnings-growth ratio of 0.74 and a beta of 0.69. The business’s fifty day moving average price is $202.63 and its 200 day moving average price is $220.38. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $252.64.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, February 24th. The technology company reported $3.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.08 by $1.39. SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. As a group, research analysts anticipate that SBA Communications Co. will post 12.57 earnings per share for the current fiscal year.

SBA Communications Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a dividend of $1.11 per share. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 annualized dividend and a dividend yield of 2.09%. SBA Communications’s dividend payout ratio is 61.83%.

Insider Transactions at SBA Communications

In related news, EVP Mark R. Ciarfella sold 3,545 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the sale, the executive vice president now directly owns 33,588 shares in the company, valued at $7,534,796.04. This trade represents a 9.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Donald Day sold 2,321 shares of SBA Communications stock in a transaction on Friday, December 20th. The shares were sold at an average price of $203.43, for a total value of $472,161.03. Following the sale, the executive vice president now directly owns 4,998 shares in the company, valued at $1,016,743.14. The trade was a 31.71 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

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.