Marks Group Wealth Management Inc Raises Stock Position in SBA Communications Co. (NASDAQ:SBAC)

Marks Group Wealth Management Inc increased its stake in SBA Communications Co. (NASDAQ:SBAC) by 4.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,274 shares of the technology company’s stock after purchasing an additional 54 shares during the quarter. Marks Group Wealth Management Inc’s holdings in SBA Communications were worth $323,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Emerald Advisers LLC purchased a new position in shares of SBA Communications during the 3rd quarter worth $31,000. CVA Family Office LLC purchased a new position in shares of SBA Communications during the 4th quarter worth $37,000. Pinnacle Bancorp Inc. boosted its stake in shares of SBA Communications by 73.6% during the 4th quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock worth $40,000 after acquiring an additional 67 shares during the last quarter. Allworth Financial LP lifted its stake in shares of SBA Communications by 37.8% during the 4th quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock valued at $42,000 after buying an additional 45 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in shares of SBA Communications during the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on SBAC shares. BMO Capital Markets lowered their target price on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 27th. Bank of America upgraded shares of 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 reduced their target price on shares of SBA Communications from $260.00 to $255.00 and set an “overweight” rating on the stock in a report on Wednesday, April 17th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, SBA Communications currently has an average rating of “Buy” and an average price target of $268.00.

SBA Communications Stock Performance

SBA Communications stock opened at $198.30 on Wednesday. The stock has a 50-day moving average of $210.70 and a two-hundred day moving average of $222.84. SBA Communications Co. has a one year low of $185.23 and a one year high of $263.08. The stock has a market cap of $21.44 billion, a PE ratio of 43.02, a price-to-earnings-growth ratio of 1.21 and a beta of 0.56.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Monday, February 26th. The technology company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.36). The firm had revenue of $675.00 million during the quarter, compared to analyst estimates of $682.11 million. SBA Communications had a net margin of 18.51% and a negative return on equity of 9.70%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the prior year, the company posted $3.11 earnings per share. As a group, sell-side analysts predict that SBA Communications Co. will post 12.61 EPS for the current fiscal year.

SBA Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a $0.98 dividend. The ex-dividend date was Wednesday, March 13th. This is a positive change from SBA Communications’s previous quarterly dividend of $0.85. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.98%. SBA Communications’s dividend payout ratio is currently 85.03%.

Insider Activity

In related news, Director Mary S. Chan sold 1,977 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $217.99, for a total transaction of $430,966.23. Following the sale, the director now directly owns 4,622 shares of the company’s stock, valued at $1,007,549.78. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

SBA Communications 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.