Natixis Advisors LLC Has $22.10 Million Stock Position in SBA Communications Corporation (NASDAQ:SBAC)

Key Points

• Natixis Advisors LLC increased its stake in SBA Communications Corporation by 24.4%, owning 100,464 shares valued at approximately $22.1 million by the end of the first quarter.
• Several other hedge funds made significant adjustments to their holdings in SBA Communications during the same period, reflecting growing institutional interest in the company.
• Wall Street analysts have projected growth for SBA Communications, with price targets ranging from $252 to $285 and a consensus rating of "Moderate Buy."

Natixis Advisors LLC increased its position in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 24.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 100,464 shares of the technology company's stock after buying an additional 19,686 shares during the quarter. Natixis Advisors LLC owned about 0.09% of SBA Communications worth $22,103,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Independence Bank of Kentucky acquired a new position in shares of SBA Communications in the 1st quarter worth $28,000. Allworth Financial LP grew its holdings in shares of SBA Communications by 62.0% in the 1st quarter. Allworth Financial LP now owns 162 shares of the technology company's stock worth $36,000 after acquiring an additional 62 shares during the last quarter. NBC Securities Inc. grew its holdings in shares of SBA Communications by 1,575.0% in the 1st quarter. NBC Securities Inc. now owns 201 shares of the technology company's stock worth $44,000 after acquiring an additional 189 shares during the last quarter. Wayfinding Financial LLC acquired a new position in shares of SBA Communications in the 1st quarter worth $51,000. Finally, Farther Finance Advisors LLC grew its holdings in shares of SBA Communications by 22.0% in the 1st quarter. Farther Finance Advisors LLC now owns 250 shares of the technology company's stock worth $55,000 after acquiring an additional 45 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company's stock.

Analyst Ratings Changes

SBAC has been the topic of a number of recent research reports. Citigroup restated an "outperform" rating on shares of SBA Communications in a report on Tuesday. Barclays increased their target price on SBA Communications from $247.00 to $257.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft lowered SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 target price for the company. in a report on Tuesday, May 20th. Wall Street Zen lowered SBA Communications from a "buy" rating to a "hold" rating in a report on Friday, April 18th. Finally, Bank of America started coverage on SBA Communications in a report on Monday, May 19th. They issued a "buy" rating and a $260.00 target price for the company. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $258.25.

SBA Communications Price Performance

Shares of NASDAQ SBAC traded up $2.29 during trading hours on Wednesday, hitting $221.45. 632,485 shares of the stock were exchanged, compared to its average volume of 865,712. The company's 50 day moving average is $231.03 and its 200 day moving average is $223.08. The firm has a market capitalization of $23.79 billion, a P/E ratio of 28.13, a P/E/G ratio of 1.91 and a beta of 0.77. SBA Communications Corporation has a one year low of $192.55 and a one year high of $252.64.

SBA Communications (NASDAQ:SBAC - Get Free Report) last announced its earnings results on Monday, August 4th. The technology company reported $3.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.10 by $0.07. The business had revenue of $698.98 million for 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 16.71%. SBA Communications's revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.29 earnings per share. Research analysts anticipate that SBA Communications Corporation will post 12.57 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, August 21st will be issued a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Thursday, August 21st. SBA Communications's dividend payout ratio is presently 60.91%.

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.