NEOS Investment Management LLC Invests $387,000 in SBA Communications Co. (NASDAQ:SBAC)

NEOS Investment Management LLC acquired a new position in shares of SBA Communications Co. (NASDAQ:SBACFree Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,524 shares of the technology company’s stock, valued at approximately $387,000.

Several other institutional investors also recently modified their holdings of SBAC. Keybank National Association OH increased its stake in shares of SBA Communications by 15.0% during the 3rd quarter. Keybank National Association OH now owns 2,497 shares of the technology company’s stock worth $500,000 after purchasing an additional 326 shares during the last quarter. Atria Wealth Solutions Inc. acquired a new position in shares of SBA Communications during the 3rd quarter worth about $422,000. Sequoia Financial Advisors LLC increased its stake in shares of SBA Communications by 10.0% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 3,005 shares of the technology company’s stock worth $601,000 after purchasing an additional 273 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of SBA Communications by 0.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,133,898 shares of the technology company’s stock worth $226,972,000 after purchasing an additional 6,131 shares during the last quarter. Finally, Burney Co. boosted its holdings in shares of SBA Communications by 17.9% during the 3rd quarter. Burney Co. now owns 17,445 shares of the technology company’s stock worth $3,492,000 after buying an additional 2,652 shares during the period. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Stock Down 0.9 %

NASDAQ SBAC opened at $196.89 on Thursday. The company has a market capitalization of $21.15 billion, a P/E ratio of 38.61, a P/E/G ratio of 0.63 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 firm has a 50-day moving average price of $199.51 and a two-hundred day moving average price of $219.63.

SBA Communications (NASDAQ:SBACGet Free Report) last issued its quarterly earnings results on Monday, April 29th. The technology company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $657.86 million during the quarter, compared to the consensus estimate of $671.08 million. During the same quarter in the prior year, the firm posted $3.13 EPS. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. Equities analysts expect that SBA Communications Co. will post 12.53 EPS for the current year.

SBA Communications Dividend Announcement

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 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Wednesday, May 22nd. SBA Communications’s dividend payout ratio (DPR) is presently 76.86%.

Analysts Set New Price Targets

SBAC has been the subject of several research analyst reports. BMO Capital Markets reduced their target price on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a report on Tuesday, February 27th. Bank of America raised shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 target price for the company in a report on Thursday, March 7th. TD Cowen reduced their target price on shares of SBA Communications from $266.00 to $253.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. KeyCorp reduced their target price on shares of SBA Communications from $276.00 to $227.00 and set an “overweight” rating for the company in a report on Tuesday, April 30th. Finally, Royal Bank of Canada reduced their target price on shares of SBA Communications from $250.00 to $235.00 and set an “outperform” rating for the company in a report on Thursday, May 9th. One 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. Based on data from MarketBeat, SBA Communications currently has a consensus rating of “Buy” and a consensus target price of $252.17.

Read Our Latest Stock 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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