Mirae Asset Global Investments Co. Ltd. Grows Position in SBA Communications Co. (NASDAQ:SBAC)

Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of SBA Communications Co. (NASDAQ:SBACFree Report) by 12.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,294 shares of the technology company’s stock after buying an additional 2,850 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in SBA Communications were worth $6,671,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Carolinas Wealth Consulting LLC boosted its position in SBA Communications by 248.0% in the first quarter. Carolinas Wealth Consulting LLC now owns 87 shares of the technology company’s stock worth $30,000 after purchasing an additional 62 shares during the last quarter. Emerald Advisers LLC purchased a new position in SBA Communications in the third quarter worth about $31,000. Resurgent Financial Advisors LLC purchased a new position in SBA Communications in the fourth quarter worth about $31,000. CVA Family Office LLC purchased a new position in SBA Communications in the fourth quarter worth about $37,000. Finally, Ancora Advisors LLC boosted its position in SBA Communications by 88.6% in the first quarter. Ancora Advisors LLC now owns 132 shares of the technology company’s stock worth $37,000 after purchasing an additional 62 shares during the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SBAC. BMO Capital Markets decreased their price objective on SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 27th. Barclays decreased their price objective on SBA Communications from $265.00 to $260.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 5th. Finally, Bank of America raised SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price objective on the stock in a research note on Thursday, March 7th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $268.38.

Read Our Latest Report on SBA Communications

SBA Communications Trading Down 1.6 %

Shares of SBAC opened at $201.84 on Monday. The business’s 50 day moving average is $213.36 and its 200 day moving average is $222.71. The company has a market capitalization of $21.82 billion, a PE ratio of 43.78, a price-to-earnings-growth ratio of 1.23 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.

SBA Communications (NASDAQ:SBACGet Free Report) last issued its earnings results 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 business had revenue of $675.00 million for the quarter, compared to the consensus estimate of $682.11 million. SBA Communications had a net margin of 18.51% and a negative return on equity of 9.70%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period last year, the business posted $3.11 EPS. Equities research analysts predict that SBA Communications Co. will post 12.6 earnings per share for the current year.

SBA Communications Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Wednesday, March 13th. This is a boost from SBA Communications’s previous quarterly dividend of $0.85. SBA Communications’s dividend payout ratio (DPR) is currently 85.03%.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, Director Mary S. Chan sold 1,977 shares of the firm’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 completion of the transaction, the director now owns 4,622 shares in the company, valued at approximately $1,007,549.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.60% of the stock is currently owned by company insiders.

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.

Further Reading

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

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