Nomura Holdings Inc. Takes $7.42 Million Position in SBA Communications Co. (NASDAQ:SBAC)

Nomura Holdings Inc. purchased a new position in SBA Communications Co. (NASDAQ:SBACFree Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 29,256 shares of the technology company’s stock, valued at approximately $7,422,000.

Other institutional investors have also recently made changes to their positions in the company. Nordea Investment Management AB boosted its stake in shares of SBA Communications by 6.3% in the fourth quarter. Nordea Investment Management AB now owns 272,065 shares of the technology company’s stock worth $68,854,000 after acquiring an additional 16,244 shares during the last quarter. Legacy Trust acquired a new stake in shares of SBA Communications in the fourth quarter worth approximately $3,256,000. Franklin Resources Inc. boosted its stake in shares of SBA Communications by 2.8% in the fourth quarter. Franklin Resources Inc. now owns 707,743 shares of the technology company’s stock worth $179,547,000 after acquiring an additional 19,462 shares during the last quarter. Clear Rock Advisors LLC acquired a new stake in shares of SBA Communications in the fourth quarter worth approximately $1,900,000. Finally, Machina Capital S.A.S. acquired a new stake in shares of SBA Communications in the fourth quarter worth approximately $343,000. 97.35% of the stock is owned by institutional investors and hedge funds.

SBA Communications Trading Down 0.1 %

SBAC stock opened at $193.16 on Tuesday. The company has a market capitalization 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 Co. has a 12-month low of $183.64 and a 12-month high of $258.76. The business’s fifty day moving average price is $198.20 and its 200 day moving average price is $218.68.

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

SBA Communications Announces Dividend

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

Analysts Set New Price Targets

SBAC has been the topic of a number of recent research reports. Royal Bank of Canada lowered their price objective on SBA Communications from $250.00 to $235.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. 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. KeyCorp reduced their target price on SBA Communications from $276.00 to $227.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 30th. Wells Fargo & Company reduced their target price on SBA Communications from $260.00 to $230.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 30th. Finally, Barclays reduced their target price on SBA Communications from $241.00 to $240.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $252.17.

View Our Latest Report on SBAC

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.

Read More

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

Receive News & Ratings for SBA Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SBA Communications and related companies with MarketBeat.com's FREE daily email newsletter.