SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Fernwood Investment Management LLC

Fernwood Investment Management LLC lowered its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 1.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,175 shares of the technology company’s stock after selling 100 shares during the quarter. Fernwood Investment Management LLC’s holdings in SBA Communications were worth $1,313,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. raised its position in shares of SBA Communications by 0.8% during 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 acquiring an additional 21,792 shares in the last quarter. Invesco Ltd. raised its position in shares of SBA Communications by 140.6% during the 3rd 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. raised its position in shares of SBA Communications by 115.3% during the 3rd 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 in the last quarter. Northern Trust Corp raised its position in shares of SBA Communications by 1.0% during the 3rd quarter. Northern Trust Corp now owns 1,209,592 shares of the technology company’s stock valued at $242,124,000 after acquiring an additional 12,450 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of 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 valued at $226,972,000 after acquiring an additional 6,131 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Stock Performance

Shares of NASDAQ:SBAC traded up $5.66 on Monday, hitting $201.89. The company’s stock had a trading volume of 779,303 shares, compared to its average volume of 981,402. The stock’s 50-day moving average is $210.01 and its two-hundred day moving average is $222.85. SBA Communications Co. has a 12 month low of $185.23 and a 12 month high of $263.08. The company has a market capitalization of $21.83 billion, a price-to-earnings ratio of 42.57, a price-to-earnings-growth ratio of 1.21 and a beta of 0.56.

SBA Communications (NASDAQ:SBAC) last announced 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). 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 the consensus estimate of $682.11 million. During the same period in the prior year, the business earned $3.11 EPS. The company’s quarterly revenue was down 1.6% compared to the same quarter last year. Equities analysts expect that SBA Communications Co. will post 12.61 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Thursday, May 23rd will be paid a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 1.94%. SBA Communications’s dividend payout ratio is currently 85.03%.

Insider Activity at SBA Communications

In related news, Director Mary S. Chan sold 1,977 shares of the stock in a transaction on 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 transaction, the director now owns 4,622 shares in the company, valued at approximately $1,007,549.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

SBAC has been the topic of several analyst reports. BMO Capital Markets dropped their target price on SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 27th. Bank of America raised SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 target price on the stock in a research report on Thursday, March 7th. Finally, Barclays dropped their target price on SBA Communications from $260.00 to $255.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 17th. One 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’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $268.00.

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.