Brooklyn Investment Group Has $98,000 Position in SBA Communications Co. (NASDAQ:SBAC)

Brooklyn Investment Group lifted its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 25.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 479 shares of the technology company’s stock after purchasing an additional 97 shares during the period. Brooklyn Investment Group’s holdings in SBA Communications were worth $98,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in SBA Communications during the third quarter worth approximately $26,000. Capital Performance Advisors LLP acquired a new position in shares of SBA Communications during the 3rd quarter worth approximately $35,000. Friedenthal Financial bought a new stake in SBA Communications in the 3rd quarter valued at $50,000. Farther Finance Advisors LLC raised its stake 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 acquiring an additional 53 shares during the period. Finally, Eastern Bank acquired a new stake in SBA Communications during the 3rd quarter valued at $58,000. 97.35% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Donald Day sold 2,321 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $203.43, for a total transaction of $472,161.03. Following the completion of the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,016,743.14. This represents a 31.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark R. Ciarfella sold 3,545 shares of the firm’s stock in a transaction 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 directly owns 33,588 shares in the company, valued at approximately $7,534,796.04. This trade represents a 9.55 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

SBA Communications Stock Down 0.3 %

SBAC stock opened at $203.61 on Monday. The company’s 50-day moving average price is $211.30 and its two-hundred day moving average price is $221.39. The firm has a market cap of $21.89 billion, a P/E ratio of 32.12, a P/E/G ratio of 0.68 and a beta of 0.69. 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 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.77). The firm had revenue of $667.60 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.34 earnings per share. Equities analysts predict that SBA Communications Co. will post 12.56 EPS for the current year.

SBA Communications Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date was Thursday, November 14th. SBA Communications’s dividend payout ratio is presently 61.83%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SBAC shares. Wells Fargo & Company increased their price objective 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. The Goldman Sachs Group increased their price target on shares of SBA Communications from $212.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. Raymond James boosted their price objective on SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 29th. Barclays lowered their target price on SBA Communications from $257.00 to $254.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Finally, StockNews.com lowered SBA Communications from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $254.77.

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.