Barclays PLC Raises Stock Position in SBA Communications Corporation $SBAC

Barclays PLC grew its position in SBA Communications Corporation (NASDAQ:SBAC) by 22.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 262,057 shares of the technology company’s stock after buying an additional 47,549 shares during the period. Barclays PLC owned 0.24% of SBA Communications worth $50,669,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quent Capital LLC purchased a new stake in SBA Communications in the third quarter valued at $27,000. Geneos Wealth Management Inc. lifted its holdings in shares of SBA Communications by 105.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after acquiring an additional 84 shares during the last quarter. SJS Investment Consulting Inc. acquired a new stake in shares of SBA Communications in the third quarter valued at $48,000. Center for Financial Planning Inc. purchased a new stake in shares of SBA Communications in the 3rd quarter valued at $50,000. Finally, Allworth Financial LP lifted its stake in SBA Communications by 67.9% during the 2nd quarter. Allworth Financial LP now owns 272 shares of the technology company’s stock worth $64,000 after acquiring an additional 110 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on SBAC shares. Weiss Ratings reissued a “hold (c-)” rating on shares of SBA Communications in a research report on Friday, January 9th. JPMorgan Chase & Co. cut their price objective on SBA Communications from $245.00 to $240.00 and set a “neutral” rating on the stock in a research report on Monday, January 12th. Royal Bank Of Canada lifted 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. Wells Fargo & Company lowered their price objective on SBA Communications from $205.00 to $195.00 and set an “equal weight” rating for the company in a research report on Friday, February 27th. Finally, Barclays reduced their target price on shares of SBA Communications from $219.00 to $212.00 and set an “overweight” rating on the stock in a report on Monday, December 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $232.17.

SBA Communications Price Performance

Shares of SBAC opened at $195.93 on Tuesday. SBA Communications Corporation has a 1-year low of $177.49 and a 1-year high of $245.16. The stock has a market cap of $20.88 billion, a PE ratio of 20.56, a price-to-earnings-growth ratio of 1.96 and a beta of 0.86. The firm has a fifty day moving average price of $191.20 and a 200 day moving average price of $193.99.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data 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. SBA Communications had a negative return on equity of 20.81% and a net margin of 36.40%.The company had revenue of $719.58 million for the quarter, compared to analyst estimates of $725.80 million. During the same quarter last year, the company posted $3.47 earnings per share. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, equities analysts expect that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Friday, March 13th. This is an increase from SBA Communications’s previous quarterly dividend of $1.11. This represents a $5.00 annualized dividend and a dividend yield of 2.6%. SBA Communications’s dividend payout ratio is currently 46.59%.

SBA Communications Company 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.