SBA Communications Co. (NASDAQ:SBAC) Shares Purchased by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. boosted its holdings in SBA Communications Co. (NASDAQ:SBACFree Report) by 2.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,184 shares of the technology company’s stock after acquiring an additional 124 shares during the period. Crossmark Global Holdings Inc.’s holdings in SBA Communications were worth $1,569,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in SBAC. Atria Wealth Solutions Inc. acquired a new stake in shares of SBA Communications during the 3rd quarter worth about $422,000. Van ECK Associates Corp boosted its stake in shares of SBA Communications by 1.0% during the 3rd quarter. Van ECK Associates Corp now owns 21,956 shares of the technology company’s stock worth $4,395,000 after purchasing an additional 213 shares during the last quarter. Pathstone Family Office LLC boosted its stake in shares of SBA Communications by 135.3% during the 3rd quarter. Pathstone Family Office LLC now owns 5,739 shares of the technology company’s stock worth $1,149,000 after purchasing an additional 3,300 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of SBA Communications by 3.6% during the 3rd quarter. HighTower Advisors LLC now owns 43,302 shares of the technology company’s stock worth $8,653,000 after purchasing an additional 1,507 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC boosted its stake in shares of SBA Communications by 9.8% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 2,321 shares of the technology company’s stock worth $465,000 after purchasing an additional 207 shares during the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

SBA Communications Stock Performance

NASDAQ SBAC opened at $193.39 on Friday. SBA Communications Co. has a one year low of $183.64 and a one year high of $258.76. The company’s 50 day moving average price is $198.61 and its 200 day moving average price is $219.07. The firm has a market capitalization of $20.78 billion, a price-to-earnings ratio of 37.92, a PEG ratio of 0.61 and a beta of 0.65.

SBA Communications (NASDAQ:SBACGet Free Report) last posted its quarterly 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 net margin of 20.61% and a negative return on equity of 10.75%. The firm had revenue of $657.86 million for the quarter, compared to analyst estimates of $671.08 million. During the same quarter last year, the firm posted $3.13 earnings per share. SBA Communications’s revenue for the quarter was down 2.6% compared to the same quarter last year. Sell-side analysts forecast that SBA Communications Co. will post 12.53 EPS 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. Shareholders of record on Thursday, May 23rd will be given a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Wednesday, May 22nd. SBA Communications’s dividend payout ratio (DPR) is 76.86%.

Wall Street Analyst Weigh In

SBAC has been the topic of several analyst reports. TD Cowen decreased their price target on shares of SBA Communications from $266.00 to $253.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. BMO Capital Markets cut their price objective on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a report on Tuesday, February 27th. Citigroup cut their price objective 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. StockNews.com lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a report on Friday, May 31st. Finally, Royal Bank of Canada cut their price objective 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. 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 company’s stock. According to MarketBeat, SBA Communications currently has a consensus rating of “Buy” and an average price target of $252.17.

Get Our Latest Stock Analysis on SBA Communications

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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