ASR Vermogensbeheer N.V. purchased a new stake in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,760 shares of the technology company's stock, valued at approximately $387,000.
Several other hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its position in shares of SBA Communications by 22.0% during the first quarter. Farther Finance Advisors LLC now owns 250 shares of the technology company's stock valued at $55,000 after purchasing an additional 45 shares in the last quarter. Central Pacific Bank Trust Division boosted its position in shares of SBA Communications by 2.3% during the first quarter. Central Pacific Bank Trust Division now owns 2,250 shares of the technology company's stock valued at $495,000 after purchasing an additional 50 shares in the last quarter. DoubleLine ETF Adviser LP boosted its position in shares of SBA Communications by 0.7% during the fourth quarter. DoubleLine ETF Adviser LP now owns 7,738 shares of the technology company's stock valued at $1,577,000 after purchasing an additional 57 shares in the last quarter. Oakworth Capital Inc. boosted its position in shares of SBA Communications by 25.8% during the first quarter. Oakworth Capital Inc. now owns 293 shares of the technology company's stock valued at $64,000 after purchasing an additional 60 shares in the last quarter. Finally, Clear Creek Financial Management LLC boosted its position in shares of SBA Communications by 6.0% during the first quarter. Clear Creek Financial Management LLC now owns 1,100 shares of the technology company's stock valued at $242,000 after purchasing an additional 62 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on SBAC. BMO Capital Markets lifted their price target on SBA Communications from $230.00 to $240.00 and gave the company a "market perform" rating in a research report on Tuesday, April 29th. Barclays boosted their target price on SBA Communications from $247.00 to $257.00 and gave the stock an "overweight" rating in a report on Wednesday, July 23rd. Scotiabank initiated coverage on SBA Communications in a report on Thursday, July 17th. They issued a "sector perform" rating and a $252.00 target price on the stock. Citigroup reissued an "outperform" rating on shares of SBA Communications in a report on Tuesday. Finally, UBS Group boosted their target price on SBA Communications from $280.00 to $285.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $258.25.
Get Our Latest Research Report on SBAC
SBA Communications Price Performance
Shares of NASDAQ:SBAC opened at $220.85 on Friday. The company has a market cap of $23.73 billion, a P/E ratio of 28.06, a PEG ratio of 2.03 and a beta of 0.77. SBA Communications Corporation has a 1 year low of $192.55 and a 1 year high of $252.64. The stock's fifty day moving average price is $230.50 and its 200-day moving average price is $223.47.
SBA Communications (NASDAQ:SBAC - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The technology company reported $3.17 EPS for the quarter, beating analysts' consensus estimates of $3.10 by $0.07. The company had revenue of $698.98 million during the quarter, compared to analysts' expectations of $670.73 million. SBA Communications had a negative return on equity of 16.83% and a net margin of 31.19%. SBA Communications's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.29 earnings per share. On average, sell-side analysts anticipate that SBA Communications Corporation will post 12.57 earnings per share for the current year.
SBA Communications Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, August 21st will be given a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Thursday, August 21st. SBA Communications's dividend payout ratio is 56.42%.
SBA Communications Company Profile
(
Free Report)
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.
Further Reading
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