SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. lowered its position in shares of SBA Communications Co. (NASDAQ:SBAC – Get Rating) by 3.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 4,350 shares of the technology company’s stock after selling 160 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in SBA Communications were worth $1,238,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of SBAC. Raymond James Trust N.A. raised its stake in SBA Communications by 19.0% during the first quarter. Raymond James Trust N.A. now owns 1,925 shares of the technology company’s stock valued at $662,000 after buying an additional 307 shares in the last quarter. Vontobel Holding Ltd. raised its stake in SBA Communications by 19.6% during the first quarter. Vontobel Holding Ltd. now owns 2,987 shares of the technology company’s stock valued at $1,024,000 after buying an additional 489 shares in the last quarter. Prudential PLC acquired a new stake in SBA Communications during the first quarter valued at approximately $568,000. Sequoia Financial Advisors LLC acquired a new stake in SBA Communications during the first quarter valued at approximately $234,000. Finally, Zions Bancorporation N.A. raised its stake in SBA Communications by 157.6% during the first quarter. Zions Bancorporation N.A. now owns 322 shares of the technology company’s stock valued at $111,000 after buying an additional 197 shares in the last quarter. Institutional investors and hedge funds own 93.54% of the company’s stock.

SBA Communications Stock Performance

Shares of NASDAQ SBAC opened at $250.79 on Wednesday. The stock has a fifty day moving average price of $281.22 and a two-hundred day moving average price of $285.27. The firm has a market cap of $27.10 billion, a P/E ratio of 59.57 and a beta of 0.49. SBA Communications Co. has a 1 year low of $236.20 and a 1 year high of $379.99.

SBA Communications (NASDAQ:SBAC – Get Rating) last issued its quarterly earnings results on Tuesday, February 21st. The technology company reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.88 by ($1.94). The firm had revenue of $686.10 million for the quarter, compared to the consensus estimate of $681.40 million. SBA Communications had a net margin of 17.52% and a negative return on equity of 8.58%. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period in the previous year, the business posted $2.81 earnings per share. On average, research analysts predict that SBA Communications Co. will post 11.74 earnings per share for the current fiscal year.

SBA Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 24th. Shareholders of record on Friday, March 10th will be paid a dividend of $0.85 per share. This is a positive change from SBA Communications’s previous quarterly dividend of $0.71. This represents a $3.40 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend is Thursday, March 9th. SBA Communications’s dividend payout ratio (DPR) is presently 80.76%.

Analyst Ratings Changes

A number of analysts have recently weighed in on SBAC shares. Truist Financial dropped their price target on SBA Communications from $400.00 to $350.00 and set a “buy” rating on the stock in a research report on Friday, January 13th. Deutsche Bank Aktiengesellschaft dropped their price target on SBA Communications from $325.00 to $320.00 in a research report on Thursday, February 23rd. Cowen dropped their price target on SBA Communications from $341.00 to $328.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 22nd. Wolfe Research upgraded SBA Communications from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, January 24th. Finally, Royal Bank of Canada dropped their price target on SBA Communications from $330.00 to $320.00 and set an “outperform” rating on the stock in a research report on Monday, February 27th. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $335.40.

SBA Communications Company Profile

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SBA Communications Corp. is a real estate investment trust, which engages in the provision of wireless communications infrastructures. It operates through the following business segments: Domestic Site Leasing, International Site Leasing, and Site Development. The Domestic Site Leasing segment includes AT&T, Sprint, T-Mobile, and Verizon Wireless.