SBA Communications Co. (NASDAQ:SBAC) Shares Bought by abrdn plc

abrdn plc raised its position in SBA Communications Co. (NASDAQ:SBAC) by 43.1% in the 4th quarter, Holdings Channel reports. The fund owned 66,781 shares of the technology company’s stock after purchasing an additional 20,098 shares during the period. abrdn plc’s holdings in SBA Communications were worth $16,942,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of SBAC. Emerald Advisers LLC purchased a new position in shares of SBA Communications during the 3rd quarter valued at approximately $31,000. CVA Family Office LLC purchased a new position in shares of SBA Communications during the 4th quarter valued at approximately $37,000. Pinnacle Bancorp Inc. boosted its stake in shares of SBA Communications by 73.6% during the 4th quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock valued at $40,000 after buying an additional 67 shares during the last quarter. Allworth Financial LP boosted its stake in shares of SBA Communications by 37.8% during the 4th quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock valued at $42,000 after buying an additional 45 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in shares of SBA Communications during the 4th quarter valued at approximately $43,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Insider Buying and Selling

In related news, Director Mary S. Chan sold 1,977 shares of SBA Communications stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $217.99, for a total value of $430,966.23. Following the transaction, the director now owns 4,622 shares of the company’s stock, valued at approximately $1,007,549.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently commented on SBAC. Barclays reduced their target price on SBA Communications from $260.00 to $255.00 and set an “overweight” rating for the company in a research note on Wednesday, April 17th. BMO Capital Markets reduced 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. Finally, Bank of America upgraded 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 research analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $268.00.

SBA Communications Stock Performance

Shares of SBAC opened at $199.00 on Thursday. The firm has a market capitalization of $21.51 billion, a price-to-earnings ratio of 43.17, a price-to-earnings-growth ratio of 1.22 and a beta of 0.56. SBA Communications Co. has a one year low of $185.23 and a one year high of $263.08. The stock’s fifty day moving average is $210.50 and its 200-day moving average is $222.67.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, February 26th. The technology company reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.36). The business had revenue of $675.00 million for the quarter, compared to analyst estimates of $682.11 million. SBA Communications had a net margin of 18.51% and a negative return on equity of 9.70%. SBA Communications’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the business posted $3.11 earnings per share. Analysts forecast that SBA Communications Co. will post 12.61 EPS for the current fiscal year.

SBA Communications Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $0.98 per share. This is a positive change from SBA Communications’s previous quarterly dividend of $0.85. This represents a $3.92 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date was Wednesday, March 13th. SBA Communications’s payout ratio is presently 85.03%.

About SBA Communications

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.