Stifel Financial Corp Increases Position in SBA Communications Co. (NASDAQ:SBAC)

Stifel Financial Corp boosted its holdings in SBA Communications Co. (NASDAQ:SBACFree Report) by 6.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 51,547 shares of the technology company’s stock after purchasing an additional 3,214 shares during the quarter. Stifel Financial Corp’s holdings in SBA Communications were worth $13,077,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nordea Investment Management AB grew its holdings in 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 purchasing an additional 16,244 shares during the period. Legacy Trust purchased a new stake in SBA Communications in the fourth quarter worth about $3,256,000. Franklin Resources Inc. grew its holdings in shares of SBA Communications by 2.8% during the fourth quarter. Franklin Resources Inc. now owns 707,743 shares of the technology company’s stock valued at $179,547,000 after buying an additional 19,462 shares during the last quarter. Machina Capital S.A.S. purchased a new stake in shares of SBA Communications during the fourth quarter valued at approximately $343,000. Finally, Lecap Asset Management Ltd. purchased a new stake in shares of SBA Communications during the fourth quarter valued at approximately $2,122,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Barclays cut their price target on shares of SBA Communications from $241.00 to $240.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Royal Bank of Canada cut their price target on shares of SBA Communications from $250.00 to $235.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. KeyCorp cut their price target on shares of SBA Communications from $276.00 to $227.00 and set an “overweight” rating on the stock in a report on Tuesday, April 30th. Citigroup cut their price target on shares of SBA Communications from $290.00 to $260.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Finally, TD Cowen dropped their target price on shares of SBA Communications from $266.00 to $253.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $252.17.

Get Our Latest Stock Report on SBA Communications

SBA Communications Trading Up 1.0 %

SBAC opened at $198.63 on Wednesday. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $258.76. The company has a market capitalization of $21.34 billion, a PE ratio of 38.95, a PEG ratio of 0.62 and a beta of 0.65. The firm’s 50 day simple moving average is $199.93 and its two-hundred day simple moving average is $219.79.

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

SBA Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Thursday, May 23rd will be given 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 dividend yield of 1.97%. SBA Communications’s payout ratio is 76.86%.

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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