Handelsbanken Fonder AB Boosts Stock Position in SBA Communications Corporation $SBAC

Handelsbanken Fonder AB raised its position in SBA Communications Corporation (NASDAQ:SBAC) by 11.1% during the second quarter, Holdings Channel.com reports. The firm owned 65,341 shares of the technology company’s stock after buying an additional 6,524 shares during the period. Handelsbanken Fonder AB’s holdings in SBA Communications were worth $11,530,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. VCI Wealth Management LLC acquired a new stake in SBA Communications during the fourth quarter worth approximately $1,786,000. M&T Bank Corp raised its holdings in SBA Communications by 8,722.0% in the 4th quarter. M&T Bank Corp now owns 263,601 shares of the technology company’s stock valued at $50,988,000 after acquiring an additional 260,613 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in SBA Communications by 5.7% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 267,659 shares of the technology company’s stock valued at $46,067,000 after acquiring an additional 14,317 shares during the last quarter. Morningstar Investment Management LLC purchased a new position in shares of SBA Communications during the 4th quarter worth $1,807,000. Finally, Moran Wealth Management LLC boosted its holdings in shares of SBA Communications by 157.6% during the fourth quarter. Moran Wealth Management LLC now owns 76,286 shares of the technology company’s stock worth $14,756,000 after purchasing an additional 46,677 shares during the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on SBAC shares. Morgan Stanley dropped their target price on SBA Communications from $225.00 to $215.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 4th. Barclays upped their price objective on shares of SBA Communications from $244.00 to $245.00 and gave the company an “overweight” rating in a research note on Tuesday, May 5th. The Goldman Sachs Group assumed coverage on shares of SBA Communications in a research report on Friday, June 26th. They issued a “neutral” rating and a $205.00 target price on the stock. Royal Bank Of Canada lowered their target price on shares of SBA Communications from $245.00 to $210.00 and set an “outperform” rating for the company in a report on Friday, July 10th. Finally, Wolfe Research raised shares of SBA Communications from a “hold” rating to an “outperform” rating in a research report on Tuesday, August 4th. Eight analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $228.12.

SBA Communications Trading Up 1.7%

Shares of SBA Communications stock opened at $186.19 on Friday. The business’s fifty day moving average price is $185.92 and its 200 day moving average price is $194.32. SBA Communications Corporation has a twelve month low of $162.41 and a twelve month high of $225.33. The stock has a market capitalization of $19.75 billion, a P/E ratio of 20.06, a PEG ratio of 1.83 and a beta of 0.99.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, August 3rd. The technology company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.02. The company had revenue of $715.27 million for the quarter, compared to the consensus estimate of $706.01 million. SBA Communications had a negative return on equity of 20.67% and a net margin of 34.51%.The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the business posted $3.17 EPS. As a group, sell-side analysts predict that SBA Communications Corporation will post 11.41 EPS for the current year.

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Thursday, August 20th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Thursday, August 20th. SBA Communications’s payout ratio is 53.88%.

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.