Bamco Inc. NY Has $116,000 Holdings in SBA Communications Corporation $SBAC

Bamco Inc. NY decreased its position in SBA Communications Corporation (NASDAQ:SBAC) by 95.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 600 shares of the technology company’s stock after selling 13,700 shares during the quarter. Bamco Inc. NY’s holdings in SBA Communications were worth $116,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Jones Financial Companies Lllp raised its position in SBA Communications by 272.8% in the 1st quarter. Jones Financial Companies Lllp now owns 753 shares of the technology company’s stock valued at $166,000 after buying an additional 551 shares during the last quarter. Empowered Funds LLC lifted its stake in SBA Communications by 12.6% in the 1st quarter. Empowered Funds LLC now owns 2,041 shares of the technology company’s stock valued at $449,000 after acquiring an additional 229 shares in the last quarter. Focus Partners Wealth boosted its position in SBA Communications by 9.0% during the 1st quarter. Focus Partners Wealth now owns 3,236 shares of the technology company’s stock worth $712,000 after acquiring an additional 266 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in SBA Communications by 105.0% during 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. Finally, Allworth Financial LP grew its stake in shares of 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. 97.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Royal Bank Of Canada lifted their price objective on shares of SBA Communications from $215.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, March 2nd. Weiss Ratings reissued a “hold (c-)” rating on shares of SBA Communications in a research report on Friday, January 9th. UBS Group dropped their price objective on SBA Communications from $275.00 to $260.00 and set a “buy” rating on the stock in a research note on Tuesday, January 20th. JPMorgan Chase & Co. reduced their target price on SBA Communications from $245.00 to $240.00 and set a “neutral” rating for the company in a research note on Monday, January 12th. Finally, Barclays decreased their target price on SBA Communications from $219.00 to $212.00 and set an “overweight” rating on the stock in a report on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $232.17.

SBA Communications Stock Performance

Shares of SBAC stock opened at $187.61 on Tuesday. SBA Communications Corporation has a 52 week low of $177.49 and a 52 week high of $245.16. The company has a market capitalization of $19.99 billion, a price-to-earnings ratio of 19.69, a PEG ratio of 1.86 and a beta of 0.86. The company has a 50-day simple moving average of $190.77 and a 200 day simple moving average of $193.04.

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

SBA Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.7%. This is an increase from SBA Communications’s previous quarterly dividend of $1.11. The ex-dividend date is Friday, March 13th. SBA Communications’s dividend payout ratio is 52.47%.

About SBA Communications

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.