Belpointe Asset Management LLC purchased a new position in shares of SBA Communications Co. (NASDAQ:SBAC – Get Rating) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 156 shares of the technology company’s stock, valued at approximately $44,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Handelsbanken Fonder AB grew its holdings in shares of SBA Communications by 9.4% during the fourth quarter. Handelsbanken Fonder AB now owns 13,651 shares of the technology company’s stock worth $3,827,000 after buying an additional 1,170 shares during the last quarter. Arizona State Retirement System boosted its holdings in SBA Communications by 0.3% in the 4th quarter. Arizona State Retirement System now owns 29,394 shares of the technology company’s stock valued at $8,239,000 after purchasing an additional 83 shares in the last quarter. Vestmark Advisory Solutions Inc. purchased a new stake in SBA Communications in the 3rd quarter valued at approximately $237,000. MADDEN SECURITIES Corp purchased a new stake in SBA Communications in the 4th quarter valued at approximately $84,000. Finally, Nuveen Asset Management LLC boosted its holdings in SBA Communications by 12.7% in the 3rd quarter. Nuveen Asset Management LLC now owns 692,813 shares of the technology company’s stock valued at $197,210,000 after purchasing an additional 77,904 shares in the last quarter. Hedge funds and other institutional investors own 93.54% of the company’s stock.
Wall Street Analysts Forecast Growth
SBAC has been the topic of a number of analyst reports. Barclays lowered their price objective on SBA Communications from $330.00 to $306.00 in a report on Wednesday, May 17th. Cowen reduced their price target on shares of SBA Communications from $341.00 to $328.00 and set an “outperform” rating for the company in a research report on Wednesday, February 22nd. Wells Fargo & Company reduced their price target on shares of SBA Communications from $340.00 to $300.00 in a research report on Tuesday, May 2nd. Deutsche Bank Aktiengesellschaft reduced their price target on shares of SBA Communications from $320.00 to $300.00 in a research report on Friday, May 5th. Finally, StockNews.com began coverage on shares of SBA Communications in a research report on Thursday, May 18th. They set a “hold” rating for the company. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $322.93.
SBA Communications Stock Performance
SBA Communications (NASDAQ:SBAC – Get Rating) last issued its quarterly earnings results on Monday, May 1st. The technology company reported $0.93 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.28). The business had revenue of $675.52 million during the quarter, compared to analyst estimates of $672.47 million. SBA Communications had a net margin of 13.91% and a negative return on equity of 7.01%. The company’s revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.96 earnings per share. As a group, equities research analysts forecast that SBA Communications Co. will post 11.74 earnings per share for the current fiscal year.
SBA Communications Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 21st. Stockholders of record on Friday, May 26th will be paid a dividend of $0.85 per share. The ex-dividend date is Thursday, May 25th. This represents a $3.40 annualized dividend and a dividend yield of 1.52%. SBA Communications’s dividend payout ratio is presently 99.42%.
SBA Communications Company Profile
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.
- Get a free copy of the StockNews.com research report on SBA Communications (SBAC)
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