CIBC Asset Management Inc Has $3.74 Million Stake in SBA Communications Co. (NASDAQ:SBAC)

CIBC Asset Management Inc lessened its stake in SBA Communications Co. (NASDAQ:SBACFree Report) by 4.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,748 shares of the technology company’s stock after selling 684 shares during the period. CIBC Asset Management Inc’s holdings in SBA Communications were worth $3,741,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. CVA Family Office LLC bought a new stake in shares of SBA Communications in the 4th quarter worth approximately $37,000. Glassman Wealth Services lifted its position in SBA Communications by 79.1% in the fourth quarter. Glassman Wealth Services now owns 154 shares of the technology company’s stock worth $39,000 after purchasing an additional 68 shares during the period. Pinnacle Bancorp Inc. boosted its stake in SBA Communications by 73.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock worth $40,000 after buying an additional 67 shares in the last quarter. Allworth Financial LP increased its holdings in SBA Communications by 37.8% in 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 period. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in shares of SBA Communications in the 4th quarter valued at $43,000. 97.35% of the stock is owned by institutional investors and hedge funds.

SBA Communications Price Performance

SBAC opened at $195.37 on Friday. The stock has a market capitalization of $20.99 billion, a P/E ratio of 38.31, a price-to-earnings-growth ratio of 0.63 and a beta of 0.65. The company’s 50 day simple moving average is $199.08 and its 200-day simple moving average is $219.46. SBA Communications Co. has a one year low of $183.64 and a one year high of $258.76.

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

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Thursday, May 23rd will be paid a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Wednesday, May 22nd. SBA Communications’s dividend payout ratio (DPR) is presently 76.86%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SBAC. BMO Capital Markets lowered their target price on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 27th. Bank of America raised 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 dropped their price objective on SBA Communications from $266.00 to $253.00 and set a “buy” rating for the company in a research note on Tuesday, April 30th. Wells Fargo & Company reduced their target price on shares of SBA Communications from $260.00 to $230.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 30th. Finally, Royal Bank of Canada dropped their target price on shares of SBA Communications from $250.00 to $235.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. One investment 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 stock. According to data from MarketBeat, SBA Communications has a consensus rating of “Buy” and an average price target of $252.17.

Read Our Latest Stock Analysis on SBAC

About SBA Communications

(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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