Duality Advisers LP Boosts Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Duality Advisers LP lifted its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 389.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,414 shares of the technology company’s stock after acquiring an additional 13,857 shares during the period. Duality Advisers LP’s holdings in SBA Communications were worth $4,418,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Carolinas Wealth Consulting LLC increased its holdings in shares of SBA Communications by 248.0% in the 1st quarter. Carolinas Wealth Consulting LLC now owns 87 shares of the technology company’s stock worth $30,000 after purchasing an additional 62 shares in the last quarter. Emerald Advisers LLC bought a new stake in SBA Communications in the 3rd quarter worth about $31,000. Resurgent Financial Advisors LLC purchased a new position in SBA Communications in the 4th quarter worth about $31,000. CVA Family Office LLC purchased a new position in SBA Communications in the 4th quarter worth about $37,000. Finally, Ancora Advisors LLC lifted its stake in SBA Communications by 88.6% during the 1st quarter. Ancora Advisors LLC now owns 132 shares of the technology company’s stock valued at $37,000 after acquiring an additional 62 shares during the period. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently 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 cut their target price on shares of SBA Communications from $260.00 to $255.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, BMO Capital Markets lowered their price target on SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a report 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 issued a strong buy rating to the company. Based on data from MarketBeat, SBA Communications presently has an average rating of “Buy” and a consensus target price of $268.00.

SBA Communications Stock Performance

Shares of SBAC stock traded up $0.11 during mid-day trading on Friday, reaching $196.06. 698,276 shares of the company’s stock traded hands, compared to its average volume of 835,322. The firm has a market capitalization of $21.20 billion, a PE ratio of 42.53, a price-to-earnings-growth ratio of 1.20 and a beta of 0.56. SBA Communications Co. has a 12 month low of $185.23 and a 12 month high of $264.06. The firm has a 50 day moving average price of $211.29 and a two-hundred day moving average price of $222.75.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, February 26th. The technology company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.36). The company had revenue of $675.00 million for the quarter, compared to analysts’ expectations of $682.11 million. SBA Communications had a net margin of 18.51% and a negative return on equity of 9.70%. SBA Communications’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.11 earnings per share. As a group, equities analysts expect that SBA Communications Co. will post 12.61 earnings per share for the current fiscal year.

SBA Communications Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.98 per share. 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 yield of 2.00%. SBA Communications’s dividend payout ratio (DPR) is presently 85.03%.

Insider Buying and Selling at SBA Communications

In other news, Director Mary S. Chan sold 1,977 shares of the stock in a transaction on Tuesday, March 5th. The shares were 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 directly 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 accessible through the SEC website. Insiders own 1.60% 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.