Banco Bilbao Vizcaya Argentaria S.A. raised its position in shares of SBA Communications Co. (NASDAQ:SBAC – Free Report) by 25.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,966 shares of the technology company’s stock after buying an additional 599 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in SBA Communications were worth $774,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the company. Geode Capital Management LLC raised its position in shares of SBA Communications by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 2,481,744 shares of the technology company’s stock valued at $694,533,000 after purchasing an additional 47,633 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in SBA Communications by 66.6% in the 4th quarter. JPMorgan Chase & Co. now owns 2,189,323 shares of the technology company’s stock worth $613,689,000 after buying an additional 874,947 shares during the period. American Century Companies Inc. increased its holdings in SBA Communications by 12.7% in the 4th quarter. American Century Companies Inc. now owns 1,724,732 shares of the technology company’s stock worth $483,460,000 after buying an additional 194,859 shares during the period. Legal & General Group Plc increased its holdings in SBA Communications by 2.4% in the 4th quarter. Legal & General Group Plc now owns 1,316,280 shares of the technology company’s stock worth $368,968,000 after buying an additional 31,446 shares during the period. Finally, Northern Trust Corp grew its stake in shares of SBA Communications by 1.8% during the 1st quarter. Northern Trust Corp now owns 1,221,087 shares of the technology company’s stock worth $420,176,000 after purchasing an additional 21,929 shares during the period. 92.52% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on SBAC shares. UBS Group dropped their price objective on shares of SBA Communications from $335.00 to $315.00 and set a “buy” rating on the stock in a research note on Tuesday, August 1st. Wells Fargo & Company dropped their price target on shares of SBA Communications from $300.00 to $270.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 18th. Citigroup reduced their price target on SBA Communications from $295.00 to $260.00 and set a “buy” rating on the stock in a report on Wednesday, August 2nd. Deutsche Bank Aktiengesellschaft reduced their price target on SBA Communications from $320.00 to $300.00 in a report on Friday, May 5th. Finally, Morgan Stanley reduced their price target on SBA Communications from $329.00 to $308.00 in a report on Tuesday, April 18th. Four investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $301.72.
Insider Buying and Selling at SBA Communications
In other SBA Communications news, Director George R. Krouse, Jr. sold 371 shares of the firm’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $229.30, for a total transaction of $85,070.30. Following the completion of the transaction, the director now directly owns 8,501 shares in the company, valued at approximately $1,949,279.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.60% of the stock is currently owned by insiders.
SBA Communications Stock Performance
SBAC stock opened at $229.93 on Wednesday. SBA Communications Co. has a one year low of $214.51 and a one year high of $352.49. The stock has a market capitalization of $24.92 billion, a PE ratio of 49.45 and a beta of 0.51. The company has a fifty day moving average of $229.00 and a 200-day moving average of $246.67.
SBA Communications (NASDAQ:SBAC – Get Free Report) last released its earnings results on Monday, July 31st. The technology company reported $1.87 EPS for the quarter, missing the consensus estimate of $2.91 by ($1.04). SBA Communications had a negative return on equity of 9.68% and a net margin of 18.71%. The firm had revenue of $678.50 million during the quarter, compared to analyst estimates of $676.87 million. During the same quarter last year, the business posted $3.07 EPS. The firm’s revenue was up 4.1% on a year-over-year basis. Equities analysts forecast that SBA Communications Co. will post 12.17 earnings per share for the current fiscal year.
SBA Communications Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Thursday, August 24th will be issued a $0.85 dividend. The ex-dividend date is Wednesday, August 23rd. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.48%. SBA Communications’s dividend payout ratio is presently 73.12%.
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.
Featured Articles
- Five stocks we like better than SBA Communications
- Do Real Estate Investment Trusts Deserve a Place in Your Portfolio?
- On Holding Slips Into A More Comfortable Price PointÂ
- The Significance of Brokerage Rankings in Stock Selection
- 3 Growing Cannabis Stocks Ready To Bloom
- What Are Dividend Challengers?
- Will Meta’s Pullback Offer Buy Point After AI-Driven Surge?
Want to see what other hedge funds are holding SBAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SBA Communications Co. (NASDAQ:SBAC – Free Report).
Receive News & Ratings for SBA Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SBA Communications and related companies with MarketBeat.com's FREE daily email newsletter.
