Fairview Capital Investment Management LLC Increases Holdings in SBA Communications Co. (NASDAQ:SBAC)

Fairview Capital Investment Management LLC lifted its stake in SBA Communications Co. (NASDAQ:SBAC) by 29.5% in the 4th quarter, HoldingsChannel reports. The firm owned 65,230 shares of the technology company’s stock after acquiring an additional 14,846 shares during the period. SBA Communications makes up 1.0% of Fairview Capital Investment Management LLC’s portfolio, making the stock its 28th largest holding. Fairview Capital Investment Management LLC’s holdings in SBA Communications were worth $16,548,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CVA Family Office LLC purchased a new stake in shares of SBA Communications in the 4th quarter worth $37,000. Glassman Wealth Services increased its stake in shares of SBA Communications by 79.1% in the 4th quarter. Glassman Wealth Services now owns 154 shares of the technology company’s stock worth $39,000 after purchasing an additional 68 shares in the last quarter. Pinnacle Bancorp Inc. boosted its holdings in SBA Communications by 73.6% in the 4th quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock worth $40,000 after buying an additional 67 shares during the period. Allworth Financial LP boosted its holdings in SBA Communications by 37.8% in the 4th quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock worth $42,000 after buying an additional 45 shares during the period. Finally, Turtle Creek Wealth Advisors LLC bought a new position in SBA Communications in the 4th quarter worth $43,000. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Trading Down 1.0 %

Shares of NASDAQ:SBAC traded down $2.03 during trading on Wednesday, reaching $196.60. The company’s stock had a trading volume of 174,624 shares, compared to its average volume of 974,109. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $258.76. The firm’s 50 day simple moving average is $199.93 and its two-hundred day simple moving average is $219.79. The stock has a market capitalization of $21.12 billion, a PE ratio of 38.95, a price-to-earnings-growth ratio of 0.62 and a beta of 0.65.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results on Monday, April 29th. The technology company reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.21. SBA Communications had a net margin of 20.61% and a negative return on equity of 10.75%. The firm had revenue of $657.86 million during the quarter, compared to the consensus estimate of $671.08 million. During the same quarter last year, the firm earned $3.13 EPS. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. Research analysts anticipate that SBA Communications Co. will post 12.53 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Thursday, May 23rd will be given a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Wednesday, May 22nd. SBA Communications’s dividend payout ratio (DPR) is currently 76.86%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Royal Bank of Canada dropped their target price on shares of SBA Communications from $250.00 to $235.00 and set an “outperform” rating for the company in a report on Thursday, May 9th. Wells Fargo & Company dropped their target price on shares of SBA Communications from $260.00 to $230.00 and set an “overweight” rating for the company in a report on Tuesday, April 30th. StockNews.com downgraded shares of SBA Communications from a “buy” rating to a “hold” rating in a report on Friday, May 31st. TD Cowen dropped their price objective on shares of SBA Communications from $266.00 to $253.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. Finally, Citigroup dropped their price objective on shares of SBA Communications from $290.00 to $260.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $252.17.

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.