abrdn plc Has $16.94 Million Holdings in SBA Communications Co. (NASDAQ:SBAC)

abrdn plc grew its holdings in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 43.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 66,781 shares of the technology company's stock after purchasing an additional 20,098 shares during the period. abrdn plc owned approximately 0.06% of SBA Communications worth $16,942,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Nordea Investment Management AB grew its position in SBA Communications by 6.3% during the 4th quarter. Nordea Investment Management AB now owns 272,065 shares of the technology company's stock worth $68,854,000 after purchasing an additional 16,244 shares during the period. Legacy Trust acquired a new stake in SBA Communications during the 4th quarter worth about $3,256,000. Natixis Advisors L.P. grew its position in SBA Communications by 18.8% during the 3rd quarter. Natixis Advisors L.P. now owns 36,708 shares of the technology company's stock worth $7,348,000 after purchasing an additional 5,814 shares during the period. Lecap Asset Management Ltd. acquired a new stake in shares of SBA Communications during the 4th quarter valued at about $2,122,000. Finally, Wakefield Asset Management LLLP grew its position in shares of SBA Communications by 11.0% during the 4th quarter. Wakefield Asset Management LLLP now owns 13,964 shares of the technology company's stock valued at $3,543,000 after acquiring an additional 1,389 shares during the period. Hedge funds and other institutional investors own 97.35% of the company's stock.

Insider Transactions at SBA Communications

In related news, Director Mary S. Chan sold 1,977 shares of SBA Communications stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total value of $430,966.23. Following the completion of the sale, the director now owns 4,622 shares in the company, valued at approximately $1,007,549.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.30% of the company's stock.

SBA Communications Stock Down 0.5 %

SBAC traded down $1.07 during trading on Thursday, reaching $197.93. The company's stock had a trading volume of 789,848 shares, compared to its average volume of 988,138. The firm has a fifty day simple moving average of $210.50 and a two-hundred day simple moving average of $222.67. SBA Communications Co. has a 1 year low of $185.23 and a 1 year high of $263.08. The company has a market cap of $21.40 billion, a price-to-earnings ratio of 43.17, a PEG ratio of 1.22 and a beta of 0.56.

SBA Communications (NASDAQ:SBAC - Get Free Report) last released its earnings results on Monday, February 26th. The technology company reported $1.01 earnings per share for the quarter, missing analysts' consensus estimates of $1.37 by ($0.36). SBA Communications had a negative return on equity of 9.70% and a net margin of 18.51%. The business had revenue of $675.00 million during the quarter, compared to analysts' expectations of $682.11 million. During the same period last year, the business earned $3.11 earnings per share. The company's revenue for the quarter was down 1.6% compared to the same quarter last year. As a group, equities analysts forecast that SBA Communications Co. will post 12.61 EPS for the current fiscal year.

SBA Communications Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.98 per share. The ex-dividend date was Wednesday, March 13th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.98%. This is an increase from SBA Communications's previous quarterly dividend of $0.85. SBA Communications's dividend payout ratio (DPR) is currently 85.03%.

Analyst Ratings Changes

SBAC has been the topic of a number of analyst reports. Barclays dropped their target price on SBA Communications from $260.00 to $255.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 17th. BMO Capital Markets decreased their price target on shares of SBA Communications from $285.00 to $265.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 27th. Finally, Bank of America raised shares of SBA Communications from a "neutral" rating to a "buy" rating and set a $260.00 price target on the stock in a research note on Thursday, March 7th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, SBA Communications has an average rating of "Buy" and an average price target of $268.00.

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.