SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Tobam

Tobam decreased its stake in shares of SBA Communications Co. (NASDAQ:SBACFree Report) by 35.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 903 shares of the technology company’s stock after selling 501 shares during the period. Tobam’s holdings in SBA Communications were worth $196,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its holdings in shares of SBA Communications by 54.9% in the first quarter. Principal Financial Group Inc. now owns 4,300,157 shares of the technology company’s stock worth $931,844,000 after buying an additional 1,524,302 shares during the period. Norges Bank bought a new position in SBA Communications during the fourth quarter valued at approximately $286,079,000. The Manufacturers Life Insurance Company raised its position in SBA Communications by 111.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 734,795 shares of the technology company’s stock valued at $186,410,000 after acquiring an additional 387,855 shares in the last quarter. BNP Paribas Financial Markets raised its position in SBA Communications by 144.7% during the first quarter. BNP Paribas Financial Markets now owns 359,736 shares of the technology company’s stock valued at $77,955,000 after acquiring an additional 212,739 shares in the last quarter. Finally, Westfield Capital Management Co. LP bought a new position in SBA Communications during the fourth quarter valued at approximately $53,679,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. 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 research report on Tuesday, April 30th. The Goldman Sachs Group initiated coverage on shares of SBA Communications in a research report on Monday, July 1st. They issued a “neutral” rating and a $212.00 price target on the stock. Barclays dropped their price target on shares of SBA Communications from $241.00 to $240.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Royal Bank of Canada dropped their price target on shares of SBA Communications from $250.00 to $235.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Finally, StockNews.com downgraded shares of SBA Communications from a “buy” rating to a “hold” rating in a research note on Friday, June 28th. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $249.08.

Read Our Latest Report on SBAC

SBA Communications Trading Up 0.2 %

Shares of SBAC stock traded up $0.35 on Monday, reaching $191.18. The company had a trading volume of 11,758 shares, compared to its average volume of 945,764. The stock has a market cap of $20.54 billion, a PE ratio of 37.42, a PEG ratio of 0.61 and a beta of 0.65. The company has a 50-day moving average of $194.24 and a 200-day moving average of $211.62. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $258.76.

SBA Communications (NASDAQ:SBACGet Free Report) last issued its quarterly earnings data on Monday, April 29th. The technology company reported $1.42 earnings per share (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 business had revenue of $657.86 million during the quarter, compared to analyst estimates of $671.08 million. During the same period in the previous year, the firm earned $3.13 EPS. SBA Communications’s quarterly revenue was down 2.6% compared to the same quarter last year. Sell-side analysts anticipate that SBA Communications Co. will post 12.51 earnings per share for the current year.

SBA Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Thursday, May 23rd were given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date was Wednesday, May 22nd. SBA Communications’s dividend payout ratio (DPR) is currently 76.86%.

SBA Communications 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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