Commerce Bank Has $610,000 Stake in SBA Communications Co. (NASDAQ:SBAC)

Commerce Bank raised its holdings in SBA Communications Co. (NASDAQ:SBACFree Report) by 4.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,405 shares of the technology company’s stock after acquiring an additional 103 shares during the period. Commerce Bank’s holdings in SBA Communications were worth $610,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Allworth Financial LP grew its stake in SBA Communications by 37.8% in the fourth quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock valued at $42,000 after acquiring an additional 45 shares during the period. Quaero Capital S.A. lifted its holdings in shares of SBA Communications by 1.4% in the fourth quarter. Quaero Capital S.A. now owns 3,730 shares of the technology company’s stock valued at $946,000 after purchasing an additional 50 shares in the last quarter. Marks Group Wealth Management Inc lifted its holdings in shares of SBA Communications by 4.4% in the fourth quarter. Marks Group Wealth Management Inc now owns 1,274 shares of the technology company’s stock valued at $323,000 after purchasing an additional 54 shares in the last quarter. Pinnacle Bancorp Inc. lifted its holdings in shares of SBA Communications by 73.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock valued at $40,000 after purchasing an additional 67 shares in the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of SBA Communications by 12.0% in the fourth quarter. UMB Bank n.a. now owns 674 shares of the technology company’s stock valued at $171,000 after purchasing an additional 72 shares in the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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 value of $430,966.23. Following the transaction, the director now owns 4,622 shares of the company’s stock, valued at $1,007,549.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by company insiders.

SBA Communications Stock Up 3.7 %

NASDAQ:SBAC opened at $193.20 on Friday. The stock’s 50 day moving average price is $201.05 and its two-hundred day moving average price is $220.65. The firm has a market capitalization of $20.76 billion, a price-to-earnings ratio of 37.88, a P/E/G ratio of 0.59 and a beta of 0.59. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $258.76.

SBA Communications (NASDAQ:SBACGet Free Report) last released 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 analyst estimates of $671.08 million. SBA Communications had a negative return on equity of 10.75% and a net margin of 20.61%. The business’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.13 earnings per share. Equities research analysts expect that SBA Communications Co. will post 12.53 EPS for the current year.

SBA Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Thursday, May 23rd will be paid a $0.98 dividend. 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 is 76.86%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SBAC. BMO Capital Markets cut their price target on SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a report on Tuesday, February 27th. Royal Bank of Canada cut their price target on SBA Communications from $250.00 to $235.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. Citigroup cut their price target on SBA Communications from $290.00 to $260.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Wells Fargo & Company cut their price target on SBA Communications from $260.00 to $230.00 and set an “overweight” rating on the stock in a report on Tuesday, April 30th. Finally, TD Cowen dropped their target price on SBA Communications from $266.00 to $253.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. One investment 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 company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $252.17.

Read Our Latest Report on SBA Communications

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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