Northern Trust Corp Sells 50,437 Shares of SBA Communications Co. (NASDAQ:SBAC)

Northern Trust Corp lowered its position in SBA Communications Co. (NASDAQ:SBACFree Report) by 4.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,159,155 shares of the technology company’s stock after selling 50,437 shares during the period. Northern Trust Corp owned approximately 1.07% of SBA Communications worth $294,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP raised its stake in shares of SBA Communications by 37.8% during 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 in the last quarter. Quaero Capital S.A. raised its stake in shares of SBA Communications by 1.4% during the fourth quarter. Quaero Capital S.A. now owns 3,730 shares of the technology company’s stock valued at $946,000 after acquiring an additional 50 shares in the last quarter. Marks Group Wealth Management Inc raised its stake in shares of SBA Communications by 4.4% during the fourth quarter. Marks Group Wealth Management Inc now owns 1,274 shares of the technology company’s stock valued at $323,000 after acquiring an additional 54 shares in the last quarter. Warwick Investment Management Inc. raised its stake in shares of SBA Communications by 6.1% during the fourth quarter. Warwick Investment Management Inc. now owns 1,061 shares of the technology company’s stock valued at $269,000 after acquiring an additional 61 shares in the last quarter. Finally, Pinnacle Bancorp Inc. raised its stake in shares of SBA Communications by 73.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock valued at $40,000 after acquiring an additional 67 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.

Wall Street Analysts Forecast Growth

SBAC has been the subject of several research analyst reports. BMO Capital Markets decreased their price target on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a research note on Tuesday, February 27th. Wells Fargo & Company cut their price objective on shares of SBA Communications from $260.00 to $230.00 and set an “overweight” rating on the stock in a report on Tuesday, April 30th. KeyCorp cut their price objective 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. Bank of America raised shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price objective on the stock in a report on Thursday, March 7th. Finally, TD Cowen cut their price objective 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 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. According to MarketBeat.com, SBA Communications presently has a consensus rating of “Buy” and a consensus target price of $252.17.

Check Out Our Latest Report on SBA Communications

SBA Communications Trading Down 1.0 %

NASDAQ SBAC opened at $193.39 on Friday. The firm’s fifty day simple moving average is $198.61 and its two-hundred day simple moving average is $219.07. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $258.76. The firm has a market capitalization of $20.78 billion, a P/E ratio of 37.92, a P/E/G ratio of 0.61 and a beta of 0.65.

SBA Communications (NASDAQ:SBACGet Free Report) last announced its quarterly earnings data on Monday, April 29th. The technology company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 20.61% and a negative return on equity of 10.75%. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period in the previous year, the company earned $3.13 earnings per share. As a group, sell-side analysts predict that SBA Communications Co. will post 12.53 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The business also recently disclosed 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 2.03%. The ex-dividend date of this dividend is Wednesday, May 22nd. SBA Communications’s dividend payout ratio (DPR) is presently 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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