Natixis Advisors LLC Purchases 19,686 Shares of 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 stake in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 24.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 100,464 shares of the technology company's stock after acquiring 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.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. NewEdge Advisors LLC grew its holdings in SBA Communications by 23.9% during the fourth quarter. NewEdge Advisors LLC now owns 1,276 shares of the technology company's stock worth $260,000 after buying an additional 246 shares in the last quarter. CWA Asset Management Group LLC bought a new stake in SBA Communications during the first quarter worth $302,000. GAMMA Investing LLC grew its holdings in SBA Communications by 38.6% during the first quarter. GAMMA Investing LLC now owns 1,684 shares of the technology company's stock worth $370,000 after buying an additional 469 shares in the last quarter. Praxis Investment Management Inc. bought a new stake in SBA Communications during the first quarter worth $290,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in SBA Communications by 14.1% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,300 shares of the technology company's stock worth $3,146,000 after buying an additional 1,769 shares in the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SBAC. Bank of America began coverage on SBA Communications in a report on Monday, May 19th. They set a "buy" rating and a $260.00 price target for the company. Wall Street Zen cut SBA Communications from a "buy" rating to a "hold" rating in a research report on Friday, April 18th. Barclays boosted their price objective on SBA Communications from $247.00 to $257.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Citigroup boosted their price objective on SBA Communications from $250.00 to $265.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Finally, Morgan Stanley boosted their price objective on SBA Communications from $255.00 to $260.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 22nd. 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 stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $257.19.

SBA Communications Price Performance

Shares of NASDAQ SBAC traded up $1.83 during trading on Monday, reaching $230.40. 944,566 shares of the stock traded hands, compared to its average volume of 718,772. SBA Communications Corporation has a 52-week low of $192.55 and a 52-week high of $252.64. The company has a 50-day moving average of $231.25 and a 200-day moving average of $222.92. The stock has a market capitalization of $24.76 billion, a P/E ratio of 31.60, a price-to-earnings-growth ratio of 1.89 and a beta of 0.77.

SBA Communications (NASDAQ:SBAC - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The technology company reported $3.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.10 by $0.07. SBA Communications had a negative return on equity of 15.30% and a net margin of 29.29%. During the same quarter last year, the business posted $3.29 EPS. The business's quarterly revenue was up 5.8% on a year-over-year basis. Analysts expect 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. Shareholders 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 yield of 1.9%. SBA Communications's dividend payout ratio is currently 60.91%.

About SBA Communications

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.