SBA Communications Co. (NASDAQ:SBAC) Shares Purchased by Fidelis Capital Partners LLC

Fidelis Capital Partners LLC raised its holdings in SBA Communications Co. (NASDAQ:SBACFree Report) by 9.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,310 shares of the technology company’s stock after acquiring an additional 112 shares during the period. Fidelis Capital Partners LLC’s holdings in SBA Communications were worth $284,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of SBAC. Principal Financial Group Inc. raised its holdings in SBA Communications by 54.9% in the 1st quarter. Principal Financial Group Inc. now owns 4,300,157 shares of the technology company’s stock valued at $931,844,000 after acquiring an additional 1,524,302 shares during the last quarter. Norges Bank acquired a new stake in SBA Communications in the 4th quarter valued at about $286,079,000. The Manufacturers Life Insurance Company raised its holdings in SBA Communications by 111.8% in the 4th 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 during the last quarter. BNP Paribas Financial Markets raised its holdings in SBA Communications by 144.7% in the 1st 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 during the last quarter. Finally, Westfield Capital Management Co. LP acquired a new stake in SBA Communications in the 4th quarter valued at about $53,679,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analyst Upgrades and Downgrades

SBAC has been the subject of a number of recent research reports. StockNews.com downgraded shares of SBA Communications from a “buy” rating to a “hold” rating in a report on Tuesday. Barclays dropped their price target on shares of SBA Communications from $241.00 to $240.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. The Goldman Sachs Group began coverage on shares of SBA Communications in a research note on Monday, July 1st. They issued a “neutral” rating and a $212.00 price target for the company. Citigroup dropped their price target on shares of SBA Communications from $290.00 to $260.00 and set a “buy” rating for the company in a research note on Tuesday, April 30th. Finally, Wells Fargo & Company dropped their price target on shares of SBA Communications from $260.00 to $230.00 and set an “overweight” rating for the company in a research note on Tuesday, April 30th. 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’s stock. According to data from MarketBeat, SBA Communications presently has an average rating of “Moderate Buy” and an average price target of $249.08.

View Our Latest Stock Report on SBAC

SBA Communications Trading Up 1.6 %

SBA Communications stock opened at $193.96 on Tuesday. The stock has a market cap of $20.84 billion, a P/E ratio of 38.03, a price-to-earnings-growth ratio of 0.61 and a beta of 0.65. The company has a fifty day simple moving average of $194.08 and a 200-day simple moving average of $211.21. 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 announced its quarterly earnings results 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. 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 during the quarter, compared to analysts’ expectations of $671.08 million. During the same period in the previous year, the company earned $3.13 earnings per share. SBA Communications’s quarterly revenue was down 2.6% compared to the same quarter last year. As a group, sell-side analysts forecast that SBA Communications Co. will post 12.51 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Thursday, May 23rd were given a $0.98 dividend. The ex-dividend date was Wednesday, May 22nd. This represents a $3.92 dividend on an annualized basis and a yield of 2.02%. 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.

Featured Stories

Institutional Ownership by Quarter for SBA Communications (NASDAQ:SBAC)

Receive News & Ratings for SBA Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SBA Communications and related companies with MarketBeat.com's FREE daily email newsletter.