SBA Communications Corporation (NASDAQ:SBAC) Stock Holdings Increased by National Bank of Canada FI

Key Points

• National Bank of Canada FI increased its stake in SBA Communications Corporation by 32.8%, owning approximately $19.97 million worth of shares after acquiring an additional 22,396 shares in the first quarter.
• SBA Communications recently declared a quarterly dividend of $1.11 per share, with an annualized yield of 2.0%, to be paid on September 18th.
• Following its latest earnings report, SBA Communications beat earnings estimates with $3.17 EPS, and projected a consensus EPS of 12.57 for the current year.

National Bank of Canada FI grew its holdings in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 32.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 90,769 shares of the technology company's stock after acquiring an additional 22,396 shares during the period. National Bank of Canada FI owned about 0.08% of SBA Communications worth $19,970,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in SBAC. Dodge & Cox increased its stake in SBA Communications by 352.5% during the 4th quarter. Dodge & Cox now owns 7,346,255 shares of the technology company's stock worth $1,497,167,000 after buying an additional 5,722,740 shares during the period. BROOKFIELD Corp ON increased its stake in SBA Communications by 27,449.9% during the 4th quarter. BROOKFIELD Corp ON now owns 991,245 shares of the technology company's stock worth $202,016,000 after buying an additional 987,647 shares during the period. Voyager Global Management LP purchased a new stake in SBA Communications during the 4th quarter worth $95,786,000. Cohen & Steers Inc. increased its stake in SBA Communications by 29.8% during the 4th quarter. Cohen & Steers Inc. now owns 1,883,065 shares of the technology company's stock worth $383,762,000 after buying an additional 432,644 shares during the period. Finally, GAMMA Investing LLC increased its stake in SBA Communications by 30,393.6% during the 1st quarter. GAMMA Investing LLC now owns 370,497 shares of the technology company's stock worth $81,513,000 after buying an additional 369,282 shares during the period. Hedge funds and other institutional investors own 97.35% of the company's stock.

Wall Street Analyst Weigh In

SBAC has been the topic of several analyst reports. BMO Capital Markets lifted their price target on shares of SBA Communications from $230.00 to $240.00 and gave the stock a "market perform" rating in a research note on Tuesday, April 29th. JMP Securities set a $280.00 target price on shares of SBA Communications and gave the stock a "market outperform" rating in a research report on Tuesday, August 5th. Barclays boosted their target price on shares of SBA Communications from $247.00 to $257.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Raymond James Financial set a $265.00 target price on shares of SBA Communications and gave the stock a "strong-buy" rating in a research report on Tuesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 target price for the company. in a research report on Tuesday, May 20th. Eight investment 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. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $258.25.

SBA Communications Stock Performance

Shares of NASDAQ:SBAC traded down $2.39 during trading on Thursday, reaching $217.00. The company had a trading volume of 678,205 shares, compared to its average volume of 860,796. The firm's fifty day moving average is $229.80 and its 200 day moving average is $223.73. The firm has a market capitalization of $23.32 billion, a PE ratio of 27.57, a price-to-earnings-growth ratio of 2.00 and a beta of 0.77. SBA Communications Corporation has a twelve month low of $192.55 and a twelve month high of $252.64.

SBA Communications (NASDAQ:SBAC - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share for the quarter, topping analysts' consensus estimates of $3.10 by $0.07. The company had revenue of $698.98 million during the quarter, compared to analyst estimates of $670.73 million. SBA Communications had a net margin of 31.19% and a negative return on equity of 16.83%. The business's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business posted $3.29 EPS. Equities analysts predict that SBA Communications Corporation will post 12.57 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 21st will be paid a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Thursday, August 21st. SBA Communications's dividend payout ratio is currently 56.42%.

SBA Communications Company 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.