Nisa Investment Advisors LLC Acquires 12,027 Shares of SBA Communications Co. (NASDAQ:SBAC)

Nisa Investment Advisors LLC raised its holdings in SBA Communications Co. (NASDAQ:SBAC) by 19.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 73,953 shares of the technology company’s stock after buying an additional 12,027 shares during the quarter. Nisa Investment Advisors LLC’s holdings in SBA Communications were worth $15,072,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new position in SBA Communications during the third quarter worth $26,000. Capital Performance Advisors LLP bought a new position in shares of SBA Communications during the 3rd quarter worth about $35,000. Friedenthal Financial acquired a new stake in shares of SBA Communications in the 3rd quarter valued at about $50,000. Farther Finance Advisors LLC increased its position in SBA Communications by 32.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock valued at $52,000 after buying an additional 53 shares in the last quarter. Finally, Eastern Bank acquired a new position in SBA Communications during the 3rd quarter worth approximately $58,000. 97.35% of the stock is currently owned by institutional investors.

Insider Buying and Selling at SBA Communications

In related news, EVP Mark R. Ciarfella sold 3,545 shares of SBA Communications stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $224.33, for a total value of $795,249.85. Following the sale, the executive vice president now owns 33,588 shares of the company’s stock, valued at approximately $7,534,796.04. The trade was a 9.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Donald Day sold 2,321 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $203.43, for a total value of $472,161.03. Following the transaction, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at approximately $1,016,743.14. This trade represents a 31.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on SBAC. TD Cowen raised their price objective on SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. StockNews.com lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Barclays dropped their price objective on shares of SBA Communications from $257.00 to $254.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. The Goldman Sachs Group boosted their target price on shares of SBA Communications from $212.00 to $240.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Finally, Wells Fargo & Company raised their price target on shares of SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, SBA Communications currently has a consensus rating of “Moderate Buy” and a consensus price target of $254.77.

SBA Communications Stock Down 2.9 %

SBAC stock opened at $198.40 on Thursday. The firm has a market cap of $21.33 billion, a PE ratio of 31.29, a P/E/G ratio of 0.73 and a beta of 0.69. The business has a 50 day moving average of $210.67 and a 200-day moving average of $221.77. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $252.64.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Monday, October 28th. The technology company reported $2.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). The business had revenue of $667.60 million during the quarter, compared to the consensus estimate of $669.29 million. SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter last year, the company earned $3.34 EPS. On average, research analysts expect that SBA Communications Co. will post 12.57 earnings per share for the current year.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 14th were given a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 1.98%. The ex-dividend date was Thursday, November 14th. SBA Communications’s dividend payout ratio is 61.83%.

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.