American International Group Inc. Has $7.33 Million Holdings in SBA Communications Co. (NASDAQ:SBAC)

American International Group Inc. lessened its holdings in SBA Communications Co. (NASDAQ:SBACFree Report) by 1.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,898 shares of the technology company’s stock after selling 307 shares during the period. American International Group Inc.’s holdings in SBA Communications were worth $7,331,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Invesco Ltd. raised its stake in SBA Communications by 140.6% in the 3rd quarter. Invesco Ltd. now owns 2,143,877 shares of the technology company’s stock valued at $429,140,000 after acquiring an additional 1,252,764 shares during the period. Brown Advisory Inc. lifted its holdings in shares of SBA Communications by 7.9% during the fourth quarter. Brown Advisory Inc. now owns 2,091,103 shares of the technology company’s stock worth $530,492,000 after buying an additional 153,299 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of SBA Communications by 9.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,958,156 shares of the technology company’s stock worth $496,765,000 after buying an additional 166,554 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of SBA Communications by 115.3% during the third quarter. Ameriprise Financial Inc. now owns 1,358,037 shares of the technology company’s stock worth $271,838,000 after buying an additional 727,163 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of SBA Communications by 1.0% during the third quarter. Northern Trust Corp now owns 1,209,592 shares of the technology company’s stock worth $242,124,000 after buying an additional 12,450 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SBAC. Citigroup dropped their target price on SBA Communications from $290.00 to $260.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. TD Cowen dropped their target price on SBA Communications from $266.00 to $253.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. Royal Bank of Canada dropped their price target on SBA Communications from $250.00 to $235.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. StockNews.com downgraded SBA Communications from a “buy” rating to a “hold” rating in a research note on Friday, May 31st. Finally, Barclays dropped their price target on SBA Communications from $241.00 to $240.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, SBA Communications has a consensus rating of “Buy” and a consensus target price of $252.17.

Get Our Latest Research Report on SBA Communications

SBA Communications Stock Down 0.1 %

SBA Communications stock opened at $193.16 on Tuesday. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $258.76. The business’s 50-day moving average price is $198.20 and its two-hundred day moving average price is $218.68. The stock has a market cap of $20.75 billion, a PE ratio of 37.87, a P/E/G ratio of 0.61 and a beta of 0.65.

SBA Communications (NASDAQ:SBACGet Free Report) last released its earnings results on Monday, April 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.21. SBA Communications had a negative return on equity of 10.75% and a net margin of 20.61%. The firm had revenue of $657.86 million for the quarter, compared to analysts’ expectations of $671.08 million. During the same quarter in the previous year, the business posted $3.13 earnings per share. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. As a group, analysts expect that SBA Communications Co. will post 12.53 earnings per share for the current year.

SBA Communications Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Thursday, May 23rd will be issued a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Wednesday, May 22nd. SBA Communications’s dividend payout ratio (DPR) is currently 76.86%.

SBA Communications 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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