OLD National Bancorp IN trimmed its holdings in shares of SBA Communications Co. (NASDAQ:SBAC – Free Report) by 3.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,768 shares of the technology company’s stock after selling 55 shares during the period. OLD National Bancorp IN’s holdings in SBA Communications were worth $462,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the business. Proficio Capital Partners LLC boosted its stake in shares of SBA Communications by 16,429.2% during the 1st quarter. Proficio Capital Partners LLC now owns 392,404 shares of the technology company’s stock worth $392,000 after buying an additional 390,030 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of SBA Communications by 128.4% in the 1st quarter. Nordea Investment Management AB now owns 160,431 shares of the technology company’s stock valued at $41,624,000 after purchasing an additional 90,205 shares during the period. First Hawaiian Bank raised its holdings in shares of SBA Communications by 130.8% in the 1st quarter. First Hawaiian Bank now owns 6,212 shares of the technology company’s stock valued at $1,622,000 after purchasing an additional 3,520 shares during the period. Empirical Asset Management LLC bought a new stake in shares of SBA Communications in the 1st quarter valued at about $471,000. Finally, Capricorn Fund Managers Ltd bought a new stake in shares of SBA Communications in the 1st quarter valued at about $1,201,000. 92.52% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on SBAC shares. Raymond James dropped their target price on shares of SBA Communications from $334.00 to $330.00 in a report on Tuesday, May 2nd. Barclays dropped their target price on shares of SBA Communications from $330.00 to $306.00 in a report on Wednesday, May 17th. Wells Fargo & Company lowered their price target on shares of SBA Communications from $340.00 to $300.00 in a report on Tuesday, May 2nd. Moffett Nathanson raised shares of SBA Communications from a “market perform” rating to an “outperform” rating and lowered their price target for the company from $330.00 to $312.00 in a report on Thursday, March 30th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of SBA Communications from $320.00 to $300.00 in a report on Friday, May 5th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, SBA Communications presently has a consensus rating of “Moderate Buy” and an average price target of $320.21.
SBA Communications Trading Up 1.0 %
SBA Communications (NASDAQ:SBAC – Free Report) last announced its quarterly earnings data on Monday, May 1st. The technology company reported $0.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.28). The firm had revenue of $675.52 million during the quarter, compared to the consensus estimate of $672.47 million. SBA Communications had a net margin of 13.91% and a negative return on equity of 7.01%. The business’s revenue was up 9.0% compared to the same quarter last year. During the same period last year, the business earned $2.96 earnings per share. Equities research analysts predict that SBA Communications Co. will post 11.77 earnings per share for the current fiscal year.
SBA Communications Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 21st. Investors of record on Friday, May 26th were paid a $0.85 dividend. The ex-dividend date was Thursday, May 25th. This represents a $3.40 dividend on an annualized basis and a yield of 1.45%. SBA Communications’s dividend payout ratio (DPR) is 99.42%.
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 in 16 markets throughout the Americas, Africa and the Philippines, SBA is listed on NASDAQ under the symbol SBAC.
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