Duality Advisers LP Buys 13,857 Shares of SBA Communications Co. (NASDAQ:SBAC)

Duality Advisers LP grew its stake in SBA Communications Co. (NASDAQ:SBAC) by 389.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,414 shares of the technology company’s stock after purchasing an additional 13,857 shares during the quarter. Duality Advisers LP’s holdings in SBA Communications were worth $4,418,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SBAC. Wetherby Asset Management Inc. increased its stake in SBA Communications by 2.2% in the 1st quarter. Wetherby Asset Management Inc. now owns 1,940 shares of the technology company’s stock valued at $668,000 after buying an additional 41 shares during the last quarter. Stephens Inc. AR grew its holdings in shares of SBA Communications by 4.6% in the first quarter. Stephens Inc. AR now owns 986 shares of the technology company’s stock valued at $257,000 after acquiring an additional 43 shares in the last quarter. Glenmede Trust Co. NA increased its position in shares of SBA Communications by 6.3% during the third quarter. Glenmede Trust Co. NA now owns 748 shares of the technology company’s stock valued at $212,000 after acquiring an additional 44 shares during the last quarter. Allworth Financial LP lifted its holdings in SBA Communications by 37.8% during the fourth quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock worth $42,000 after acquiring an additional 45 shares during the period. Finally, Quaero Capital S.A. boosted its position in SBA Communications by 1.4% in the fourth quarter. Quaero Capital S.A. now owns 3,730 shares of the technology company’s stock worth $946,000 after purchasing an additional 50 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Insider Buying and Selling at SBA Communications

In other news, Director Mary S. Chan sold 1,977 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total value of $430,966.23. Following the transaction, the director now 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 at the SEC website. Insiders own 1.60% of the company’s stock.

SBA Communications Price Performance

Shares of NASDAQ:SBAC traded up $0.11 during trading on Friday, hitting $196.06. 698,276 shares of the company were exchanged, compared to its average volume of 835,322. SBA Communications Co. has a 52-week low of $185.23 and a 52-week high of $264.06. The stock has a 50 day moving average of $211.29 and a 200 day moving average of $222.75. The company has a market cap of $21.20 billion, a PE ratio of 42.53, a P/E/G ratio of 1.20 and a beta of 0.56.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, February 26th. The technology company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.36). SBA Communications had a negative return on equity of 9.70% and a net margin of 18.51%. The company had revenue of $675.00 million during the quarter, compared to the consensus estimate of $682.11 million. During the same quarter in the prior year, the business earned $3.11 EPS. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. Sell-side analysts forecast that SBA Communications Co. will post 12.61 EPS for the current fiscal year.

SBA Communications Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a $0.98 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This is a boost from SBA Communications’s previous quarterly dividend of $0.85. This represents a $3.92 annualized dividend and a yield of 2.00%. SBA Communications’s dividend payout ratio is currently 85.03%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SBAC shares. Barclays decreased their target price on SBA Communications from $260.00 to $255.00 and set an “overweight” rating for the company in a research report on Wednesday. BMO Capital Markets decreased their price objective on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a report on Tuesday, February 27th. Finally, 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 research note on Thursday, March 7th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $268.00.

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.