abrdn plc Grows Position in SBA Communications Co. (NASDAQ:SBAC)

abrdn plc raised its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 43.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,781 shares of the technology company’s stock after buying an additional 20,098 shares during the quarter. abrdn plc owned about 0.06% of SBA Communications worth $16,942,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Allworth Financial LP grew its holdings in shares of SBA Communications by 37.8% during the fourth quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock worth $42,000 after buying an additional 45 shares in the last quarter. Quaero Capital S.A. grew its holdings in shares of SBA Communications by 1.4% during the fourth quarter. Quaero Capital S.A. now owns 3,730 shares of the technology company’s stock worth $946,000 after buying an additional 50 shares in the last quarter. Pinnacle Bancorp Inc. grew its holdings in shares of SBA Communications by 73.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock worth $40,000 after buying an additional 67 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of SBA Communications by 12.0% during the fourth quarter. UMB Bank n.a. now owns 674 shares of the technology company’s stock worth $171,000 after buying an additional 72 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of SBA Communications by 3.0% in the third quarter. Harbor Capital Advisors Inc. now owns 2,692 shares of the technology company’s stock valued at $539,000 after purchasing an additional 78 shares during the period. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Performance

Shares of SBAC opened at $199.00 on Thursday. The stock has a market capitalization of $21.51 billion, a PE ratio of 43.17, a P/E/G ratio of 1.22 and a beta of 0.56. SBA Communications Co. has a 1 year low of $185.23 and a 1 year high of $263.08. The company’s 50-day simple moving average is $210.50 and its 200-day simple moving average is $222.67.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, February 26th. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.36). The business had revenue of $675.00 million for the quarter, compared to analyst estimates of $682.11 million. SBA Communications had a negative return on equity of 9.70% and a net margin of 18.51%. The firm’s revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period in the prior year, the company posted $3.11 EPS. On average, sell-side analysts predict that SBA Communications Co. will post 12.61 earnings per share for the current year.

SBA Communications Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.98 dividend. This is a boost from SBA Communications’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $3.92 annualized dividend and a yield of 1.97%. SBA Communications’s dividend payout ratio (DPR) is 85.03%.

Insider Activity at SBA Communications

In related news, Director Mary S. Chan sold 1,977 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total value of $430,966.23. Following the sale, the director now owns 4,622 shares of the company’s stock, valued at $1,007,549.78. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SBAC. Barclays dropped their price objective on shares of SBA Communications from $260.00 to $255.00 and set an “overweight” rating for the company in a report on Wednesday, April 17th. BMO Capital Markets dropped their price objective on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a report on Tuesday, February 27th. Finally, Bank of America raised shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price objective for the company in a report on Thursday, March 7th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, SBA Communications presently has a consensus rating of “Buy” and a consensus price target of $268.00.

SBA Communications Company Profile

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.