Nykredit A S Buys New Holdings in SBA Communications Corporation $SBAC

Key Points

• Nykredit A/S acquired 41,355 shares of SBA Communications in the second quarter, valued at approximately $7.3 million. Institutional investors collectively own 97.35% of the company.
• SBA Communications reported quarterly EPS of $1.87 and revenue of $715.27 million, exceeding analyst expectations, while revenue increased 2.3% year over year.
• The company maintains a quarterly dividend of $1.25, or $5.00 annually, producing a 2.8% yield. Shares recently traded at $176.28, below the analyst consensus target of $224.87, though the overall rating remains “Hold.”

Nykredit A S bought a new position in SBA Communications Corporation (NASDAQ:SBAC - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The firm bought 41,355 shares of the technology company's stock, valued at approximately $7,298,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Raiffeisen Bank International AG lifted its position in SBA Communications by 184.8% in the 2nd quarter. Raiffeisen Bank International AG now owns 188 shares of the technology company's stock valued at $34,000 after acquiring an additional 122 shares in the last quarter. Commonwealth Retirement Investments LLC bought a new position in SBA Communications in the fourth quarter worth approximately $39,000. CX Institutional boosted its stake in shares of SBA Communications by 44.2% during the 2nd quarter. CX Institutional now owns 212 shares of the technology company's stock worth $37,000 after acquiring an additional 65 shares during the last quarter. Fideuram Asset Management Ireland dac purchased a new position in shares of SBA Communications during the 4th quarter worth $46,000. Finally, Larson Financial Group LLC increased its stake in shares of SBA Communications by 47.6% in the 4th quarter. Larson Financial Group LLC now owns 248 shares of the technology company's stock worth $48,000 after purchasing an additional 80 shares in the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other SBA Communications news, Director George R. Krouse, Jr. sold 300 shares of the stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $182.67, for a total transaction of $54,801.00. Following the completion of the sale, the director directly owned 8,512 shares of the company's stock, valued at approximately $1,554,887.04. This trade represents a 3.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 9.50% of the company's stock.

SBA Communications Trading Down 1.3%

Shares of SBAC opened at $176.28 on Tuesday. The firm has a market cap of $18.70 billion, a PE ratio of 19.00, a P/E/G ratio of 1.78 and a beta of 0.99. The stock has a fifty day moving average price of $183.25 and a 200-day moving average price of $192.92. SBA Communications Corporation has a 12 month low of $162.41 and a 12 month high of $224.46.

SBA Communications (NASDAQ:SBAC - Get Free Report) last posted its earnings results on Monday, August 3rd. The technology company reported $1.87 EPS for the quarter, beating analysts' consensus estimates of $1.85 by $0.02. SBA Communications had a negative return on equity of 20.67% and a net margin of 34.51%.The firm had revenue of $715.27 million for the quarter, compared to analysts' expectations of $706.01 million. During the same period last year, the firm earned $3.17 EPS. The company's quarterly revenue was up 2.3% on a year-over-year basis. As a group, research analysts forecast that SBA Communications Corporation will post 11.41 EPS for the current year.

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 17th. Investors of record on Thursday, August 20th were issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Thursday, August 20th. SBA Communications's dividend payout ratio is 53.88%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Wells Fargo & Company upgraded shares of SBA Communications from an "equal weight" rating to an "overweight" rating and lowered their target price for the company from $220.00 to $210.00 in a research note on Friday, July 17th. The Goldman Sachs Group assumed coverage on SBA Communications in a research note on Friday, June 26th. They issued a "neutral" rating and a $205.00 price objective for the company. Wolfe Research raised SBA Communications from a "hold" rating to an "outperform" rating in a research note on Tuesday, August 4th. TD Cowen reissued a "buy" rating on shares of SBA Communications in a report on Tuesday, August 4th. Finally, Royal Bank Of Canada cut their price objective on shares of SBA Communications from $245.00 to $210.00 and set an "outperform" rating for the company in a report on Friday, July 10th. Seven research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, SBA Communications currently has an average rating of "Hold" and an average target price of $224.87.

SBA Communications Profile

SBA Communications Corporation NASDAQ: SBAC is a real estate investment trust that owns and operates wireless communications infrastructure. The company provides the sites and facilities that wireless service providers use to support cellular networks, including traditional macro towers, small cells and distributed antenna systems.

SBA's primary business is leasing space on its communications infrastructure to wireless carriers and other communications companies. It also develops, acquires and manages wireless sites, helping customers expand network coverage and capacity.

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