SBA Communications Corporation $SBAC Shares Acquired by Nordea Investment Management AB

Nordea Investment Management AB lifted its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC) by 5.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,245,399 shares of the technology company’s stock after acquiring an additional 63,323 shares during the period. Nordea Investment Management AB owned 1.17% of SBA Communications worth $241,234,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new position in SBA Communications during the 2nd quarter worth $351,084,000. Dodge & Cox raised its holdings in shares of SBA Communications by 12.3% in the third quarter. Dodge & Cox now owns 9,667,297 shares of the technology company’s stock valued at $1,869,172,000 after buying an additional 1,058,803 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of SBA Communications by 1,328.4% during the second quarter. Daiwa Securities Group Inc. now owns 522,215 shares of the technology company’s stock worth $122,637,000 after buying an additional 485,656 shares during the period. Vanguard Group Inc. boosted its stake in shares of SBA Communications by 2.3% during the third quarter. Vanguard Group Inc. now owns 18,163,536 shares of the technology company’s stock worth $3,511,920,000 after buying an additional 403,285 shares during the period. Finally, Diamond Hill Capital Management Inc. grew its holdings in shares of SBA Communications by 24.6% during the third quarter. Diamond Hill Capital Management Inc. now owns 1,855,329 shares of the technology company’s stock worth $358,728,000 after buying an additional 366,491 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Down 4.5%

Shares of NASDAQ:SBAC opened at $174.15 on Monday. SBA Communications Corporation has a 52 week low of $173.77 and a 52 week high of $245.16. The company has a 50-day moving average price of $190.66 and a 200 day moving average price of $192.45. The company has a market cap of $18.56 billion, a P/E ratio of 18.27, a PEG ratio of 1.73 and a beta of 0.86.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Thursday, February 26th. The technology company reported $3.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.25 by $0.22. The company had revenue of $719.58 million for the quarter, compared to analysts’ expectations of $725.80 million. SBA Communications had a negative return on equity of 20.81% and a net margin of 36.40%.The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.47 EPS. Analysts expect that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.9%. This is an increase from SBA Communications’s previous quarterly dividend of $1.11. The ex-dividend date of this dividend is Friday, March 13th. SBA Communications’s dividend payout ratio is 52.47%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SBAC. Barclays dropped their price target on SBA Communications from $219.00 to $212.00 and set an “overweight” rating on the stock in a research report on Monday, December 1st. Weiss Ratings reiterated a “hold (c-)” rating on shares of SBA Communications in a research note on Friday, January 9th. Royal Bank Of Canada boosted their target price on SBA Communications from $215.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, March 2nd. Morgan Stanley cut their price target on SBA Communications from $225.00 to $215.00 and set an “equal weight” rating for the company in a research note on Monday, March 2nd. Finally, JPMorgan Chase & Co. decreased their price target on SBA Communications from $245.00 to $240.00 and set a “neutral” rating for the company in a report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $232.17.

SBA Communications Profile

SBA Communications Corporation (NASDAQ: SBAC) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its core business is the leasing of space on communications towers, rooftop sites and other wireless structures to mobile network operators, broadband providers and other wireless service customers. The company also provides site development, construction and ongoing site management services to support the deployment and operation of wireless networks.

In addition to traditional macro towers, SBA offers a range of infrastructure solutions designed for dense urban and suburban markets, including small cells, distributed antenna systems (DAS) and fiber backhaul and transport services.