Lincoln National Corp raised its holdings in SBA Communications Co. (NASDAQ:SBAC – Free Report) by 7.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 1,104 shares of the technology company’s stock after acquiring an additional 81 shares during the quarter. Lincoln National Corp’s holdings in SBA Communications were worth $288,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Carolinas Wealth Consulting LLC increased 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 worth $30,000 after buying an additional 62 shares during the period. Allworth Financial LP increased its position in shares of SBA Communications by 246.2% during the fourth quarter. Allworth Financial LP now owns 90 shares of the technology company’s stock worth $25,000 after buying an additional 64 shares during the period. Ruedi Wealth Management Inc. acquired a new stake in SBA Communications in the fourth quarter worth $27,000. Massmutual Trust Co. FSB ADV grew its holdings in SBA Communications by 127.7% in the first quarter. Massmutual Trust Co. FSB ADV now owns 107 shares of the technology company’s stock worth $28,000 after purchasing an additional 60 shares during the period. Finally, Resurgent Financial Advisors LLC acquired a new stake in SBA Communications in the fourth quarter worth $31,000. 92.52% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research firms have commented on SBAC. Deutsche Bank Aktiengesellschaft reduced their price target on shares of SBA Communications from $320.00 to $300.00 in a report on Friday, May 5th. Morgan Stanley dropped their price objective on shares of SBA Communications from $329.00 to $308.00 in a research note on Tuesday, April 18th. Moffett Nathanson raised shares of SBA Communications from a “market perform” rating to an “outperform” rating and dropped their price objective for the company from $330.00 to $312.00 in a research note on Thursday, March 30th. Barclays dropped their price objective on shares of SBA Communications from $330.00 to $306.00 in a research note on Wednesday, May 17th. Finally, StockNews.com started coverage on shares of SBA Communications in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $314.20.
SBA Communications Trading Up 2.8 %
SBA Communications (NASDAQ:SBAC – Get Free Report) last issued its quarterly earnings data on Monday, May 1st. The technology company reported $0.93 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.28). The firm had revenue of $675.52 million for the quarter, compared to analysts’ expectations of $672.47 million. SBA Communications had a net margin of 13.91% and a negative return on equity of 7.01%. SBA Communications’s revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm posted $2.96 EPS. On average, equities analysts forecast that SBA Communications Co. will post 11.76 earnings per share for the current fiscal year.
SBA Communications Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 21st. Shareholders of record on Friday, May 26th were given a dividend of $0.85 per share. The ex-dividend date was Thursday, May 25th. This represents a $3.40 annualized dividend and a yield of 1.50%. SBA Communications’s payout ratio is presently 99.42%.
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 in 16 markets throughout the Americas, Africa and the Philippines, SBA is listed on NASDAQ under the symbol SBAC.
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