Duff & Phelps Investment Management Co. Buys 23,135 Shares of SBA Communications Co. (NASDAQ:SBAC)

Duff & Phelps Investment Management Co. lifted its position in SBA Communications Co. (NASDAQ:SBAC) by 11.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 221,087 shares of the technology company’s stock after purchasing an additional 23,135 shares during the quarter. Duff & Phelps Investment Management Co. owned 0.20% of SBA Communications worth $56,088,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allworth Financial LP lifted its position 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 worth $42,000 after buying an additional 45 shares during the period. Quaero Capital S.A. raised its stake in shares of SBA Communications by 1.4% in the fourth quarter. Quaero Capital S.A. now owns 3,730 shares of the technology company’s stock valued at $946,000 after acquiring an additional 50 shares during the last quarter. Marks Group Wealth Management Inc boosted its holdings in shares of SBA Communications by 4.4% in the 4th quarter. Marks Group Wealth Management Inc now owns 1,274 shares of the technology company’s stock worth $323,000 after acquiring an additional 54 shares in the last quarter. Pinnacle Bancorp Inc. grew its position in 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. Finally, UMB Bank n.a. grew its position in SBA Communications by 12.0% during the 4th quarter. UMB Bank n.a. now owns 674 shares of the technology company’s stock worth $171,000 after acquiring an additional 72 shares during the last quarter. 97.35% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on SBAC. Barclays decreased their price objective on shares of SBA Communications from $255.00 to $241.00 and set an “overweight” rating on the stock in a report on Tuesday. Bank of America raised shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price target on the stock in a research note on Thursday, March 7th. 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 research report on Tuesday. KeyCorp lowered their target price on SBA Communications from $276.00 to $227.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, TD Cowen dropped their target price on SBA Communications from $266.00 to $253.00 and set a “buy” rating for the company in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $258.23.

SBA Communications Trading Down 6.0 %

Shares of SBA Communications stock traded down $12.11 on Tuesday, reaching $189.78. 915,756 shares of the company were exchanged, compared to its average volume of 979,759. SBA Communications Co. has a one year low of $185.23 and a one year high of $263.08. The company has a 50-day moving average of $209.91 and a 200 day moving average of $222.86. The company has a market capitalization of $20.52 billion, a price-to-earnings ratio of 41.13, a PEG ratio of 1.21 and a beta of 0.56.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, April 29th. The technology company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.21 by $0.21. SBA Communications had a negative return on equity of 9.70% and a net margin of 18.51%. The company had revenue of $657.86 million during the quarter, compared to the consensus estimate of $671.08 million. During the same period in the previous year, the company posted $3.13 EPS. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. Analysts predict that SBA Communications Co. will post 12.61 earnings per share for the current year.

SBA Communications Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Thursday, May 23rd will be issued a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 2.07%. SBA Communications’s payout ratio is currently 85.03%.

Insider Activity at SBA Communications

In related news, Director Mary S. Chan sold 1,977 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total transaction of $430,966.23. Following the transaction, 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 legal filing with the SEC, which is available through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

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.