Presima Securities ULC Has $14.75 Million Position in SBA Communications Co. (NASDAQ:SBAC)

Presima Securities ULC cut its holdings in SBA Communications Co. (NASDAQ:SBAC) by 12.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 72,395 shares of the technology company’s stock after selling 10,219 shares during the quarter. SBA Communications makes up 3.6% of Presima Securities ULC’s portfolio, making the stock its 12th largest position. Presima Securities ULC’s holdings in SBA Communications were worth $14,754,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Oak Thistle LLC increased its position in SBA Communications by 76.1% in the 4th quarter. Oak Thistle LLC now owns 6,623 shares of the technology company’s stock valued at $1,350,000 after acquiring an additional 2,863 shares in the last quarter. Czech National Bank increased its holdings in shares of SBA Communications by 6.5% in the fourth quarter. Czech National Bank now owns 23,314 shares of the technology company’s stock valued at $4,751,000 after purchasing an additional 1,421 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its position in SBA Communications by 14,529.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 251,328 shares of the technology company’s stock worth $60,495,000 after purchasing an additional 249,610 shares during the last quarter. First Hawaiian Bank lifted its holdings in SBA Communications by 91.0% during the 4th quarter. First Hawaiian Bank now owns 12,377 shares of the technology company’s stock worth $2,522,000 after buying an additional 5,897 shares in the last quarter. Finally, Bank of Montreal Can boosted its position in SBA Communications by 135.5% in the 3rd quarter. Bank of Montreal Can now owns 420,514 shares of the technology company’s stock valued at $100,351,000 after buying an additional 241,916 shares during the last quarter. 97.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SBAC shares. Raymond James upped their price target on SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 29th. TD Cowen raised their target price on shares of SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. KeyCorp boosted their price target on shares of SBA Communications from $230.00 to $280.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. StockNews.com raised shares of SBA Communications from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Wells Fargo & Company cut their price target on SBA Communications from $230.00 to $210.00 and set an “equal weight” rating on the stock in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, SBA Communications has a consensus rating of “Moderate Buy” and an average price target of $252.46.

SBA Communications Stock Down 0.9 %

SBAC opened at $196.83 on Friday. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $252.64. The business has a 50 day moving average of $209.87 and a 200-day moving average of $221.45. The stock has a market cap of $21.16 billion, a price-to-earnings ratio of 31.05, a PEG ratio of 0.70 and a beta of 0.69.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.77). SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The company had revenue of $667.60 million during the quarter, compared to the consensus estimate of $669.29 million. During the same period in the prior year, the company earned $3.34 earnings per share. The firm’s revenue was down 2.2% compared to the same quarter last year. As a group, 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 declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 14th were paid a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend was Thursday, November 14th. SBA Communications’s dividend payout ratio (DPR) is currently 61.83%.

Insider Buying and Selling

In other news, EVP Mark R. Ciarfella sold 3,545 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $224.33, for a total transaction of $795,249.85. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Donald Day sold 2,321 shares of SBA Communications stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $203.43, for a total value of $472,161.03. Following the completion of the transaction, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,016,743.14. This represents a 31.71 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company 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.