Nordea Investment Management AB Increases Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Nordea Investment Management AB increased its holdings in SBA Communications Co. (NASDAQ:SBACFree Report) by 6.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 272,065 shares of the technology company’s stock after acquiring an additional 16,244 shares during the quarter. Nordea Investment Management AB owned about 0.25% of SBA Communications worth $68,854,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Invesco Ltd. lifted its position in SBA Communications by 140.6% during the third quarter. Invesco Ltd. now owns 2,143,877 shares of the technology company’s stock valued at $429,140,000 after buying an additional 1,252,764 shares during the period. Norges Bank purchased a new position in shares of SBA Communications in the 4th quarter worth about $310,556,000. Ameriprise Financial Inc. raised its position in shares of SBA Communications by 115.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,358,037 shares of the technology company’s stock worth $271,838,000 after purchasing an additional 727,163 shares during the last quarter. Millennium Management LLC increased its holdings in SBA Communications by 294.4% in the 4th quarter. Millennium Management LLC now owns 797,089 shares of the technology company’s stock worth $223,432,000 after buying an additional 594,994 shares in the last quarter. Finally, Bristol John W & Co. Inc. NY bought a new stake in SBA Communications in the 3rd quarter worth about $92,725,000. Hedge funds and other institutional investors own 92.48% of the company’s stock.

Analysts Set New Price Targets

SBAC has been the subject of a number of recent research reports. Bank of America upgraded SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price target for the company in a research note on Thursday, March 7th. KeyCorp boosted their price target on SBA Communications from $251.00 to $276.00 and gave the company an “overweight” rating in a research note on Wednesday, December 6th. BMO Capital Markets cut their price target on SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a research note on Tuesday, February 27th. Finally, Barclays cut their price target on SBA Communications from $265.00 to $260.00 and set an “overweight” rating for the company in a research note on Tuesday, March 5th. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, SBA Communications currently has an average rating of “Buy” and a consensus price target of $271.50.

Get Our Latest Analysis on SBA Communications

SBA Communications Trading Down 1.0 %

NASDAQ SBAC opened at $213.26 on Tuesday. The stock has a market cap of $23.06 billion, a PE ratio of 46.26, a P/E/G ratio of 1.32 and a beta of 0.56. SBA Communications Co. has a 12 month low of $185.23 and a 12 month high of $267.42. The stock’s 50 day moving average is $220.76 and its 200 day moving average is $222.64.

SBA Communications (NASDAQ:SBACGet Free Report) last issued its quarterly earnings data on Monday, February 26th. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.36). The firm had revenue of $675.00 million for the quarter, compared to analysts’ expectations of $682.11 million. SBA Communications had a negative return on equity of 9.70% and a net margin of 18.51%. The firm’s revenue was down 1.6% on a year-over-year basis. During the same period last year, the company earned $3.11 earnings per share. On average, analysts forecast that SBA Communications Co. will post 12.59 EPS for the current fiscal year.

SBA Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th will be issued a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 1.84%. This is a boost from SBA Communications’s previous quarterly dividend of $0.85. The ex-dividend date is Wednesday, March 13th. SBA Communications’s dividend payout ratio is 85.03%.

Insider Transactions at SBA Communications

In other news, Director Mary S. Chan sold 1,977 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $217.99, for a total transaction of $430,966.23. Following the sale, the director now directly owns 4,622 shares of the company’s stock, valued at approximately $1,007,549.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.60% of the company’s stock.

SBA Communications Company Profile

(Free Report)

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 throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.

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Institutional Ownership by Quarter for SBA Communications (NASDAQ:SBAC)

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