Nordea Investment Management AB Grows Stake in SBA Communications Co. (NASDAQ:SBAC)

Nordea Investment Management AB boosted its stake in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 6.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 272,065 shares of the technology company's stock after purchasing an additional 16,244 shares during the period. Nordea Investment Management AB owned about 0.25% of SBA Communications worth $68,854,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SBAC. Carolinas Wealth Consulting LLC boosted its position in shares of SBA Communications by 248.0% during the first quarter. Carolinas Wealth Consulting LLC now owns 87 shares of the technology company's stock valued at $30,000 after purchasing an additional 62 shares in the last quarter. Emerald Advisers LLC purchased a new position in shares of SBA Communications during the third quarter worth $31,000. Resurgent Financial Advisors LLC acquired a new stake in shares of SBA Communications during the fourth quarter worth about $31,000. Ancora Advisors LLC raised its holdings in SBA Communications by 88.6% in the 1st quarter. Ancora Advisors LLC now owns 132 shares of the technology company's stock valued at $37,000 after acquiring an additional 62 shares during the last quarter. Finally, Covestor Ltd increased its stake in shares of SBA Communications by 218.6% in the second quarter. Covestor Ltd now owns 188 shares of the technology company's stock valued at $44,000 after purchasing an additional 129 shares during the period. Institutional investors and hedge funds own 92.48% of the company's stock.

Analysts Set New Price Targets

SBAC has been the topic of a number of recent analyst reports. BMO Capital Markets lowered their price target on shares of SBA Communications from $285.00 to $265.00 and set an "outperform" rating on the stock in a report on Tuesday, February 27th. Bank of America upgraded SBA Communications from a "neutral" rating to a "buy" rating and set a $260.00 target price on the stock in a report on Thursday, March 7th. Barclays cut their price objective on SBA Communications from $265.00 to $260.00 and set an "overweight" rating for the company in a report on Tuesday, March 5th. Finally, KeyCorp raised their target price on shares of SBA Communications from $251.00 to $276.00 and gave the company an "overweight" rating in a research note on Wednesday, December 6th. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $271.50.

SBA Communications Stock Up 0.9 %

Shares of NASDAQ SBAC traded up $1.82 on Tuesday, hitting $215.08. The company had a trading volume of 467,891 shares, compared to its average volume of 1,048,053. The business has a 50 day moving average of $220.15 and a two-hundred day moving average of $222.60. The firm has a market capitalization of $23.25 billion, a P/E ratio of 46.66, a PEG ratio of 1.32 and a beta of 0.56. SBA Communications Co. has a 12-month low of $185.23 and a 12-month high of $267.42.

SBA Communications (NASDAQ:SBAC - Get Free Report) last posted its quarterly earnings results on Monday, February 26th. The technology company reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.36). The company had revenue of $675.00 million during the quarter, compared to the consensus estimate of $682.11 million. SBA Communications had a net margin of 18.51% and a negative return on equity of 9.70%. The company's revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the firm posted $3.11 earnings per share. On average, sell-side analysts anticipate that SBA Communications Co. will post 12.59 earnings per share for the current year.

SBA Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th will be given a $0.98 dividend. The ex-dividend date of this dividend is Wednesday, March 13th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.82%. This is a boost from SBA Communications's previous quarterly dividend of $0.85. SBA Communications's dividend payout ratio (DPR) is currently 85.03%.

Insider Activity at SBA Communications

In related news, Director Mary S. Chan sold 1,977 shares of the company's stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $217.99, for a total transaction of $430,966.23. Following the sale, the director now owns 4,622 shares in the company, valued at $1,007,549.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.60% of the company's stock.

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.