SBA Communications Co. (NASDAQ:SBAC) Shares Acquired by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd raised its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 1.4% in the second quarter, Holdings Channel.com reports. The fund owned 22,096 shares of the technology company’s stock after acquiring an additional 304 shares during the quarter. Gulf International Bank UK Ltd’s holdings in SBA Communications were worth $7,041,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. CSat Investment Advisory L.P. raised its holdings in shares of SBA Communications by 57.1% during the first quarter. CSat Investment Advisory L.P. now owns 110 shares of the technology company’s stock valued at $31,000 after acquiring an additional 40 shares during the last quarter. Glassman Wealth Services raised its holdings in shares of SBA Communications by 70.8% during the first quarter. Glassman Wealth Services now owns 123 shares of the technology company’s stock valued at $34,000 after acquiring an additional 51 shares during the last quarter. Certified Advisory Corp acquired a new position in shares of SBA Communications during the first quarter valued at approximately $39,000. BDO Wealth Advisors LLC raised its holdings in shares of SBA Communications by 128.8% during the first quarter. BDO Wealth Advisors LLC now owns 151 shares of the technology company’s stock valued at $42,000 after acquiring an additional 85 shares during the last quarter. Finally, Jacobi Capital Management LLC raised its holdings in shares of SBA Communications by 905.6% during the first quarter. Jacobi Capital Management LLC now owns 181 shares of the technology company’s stock valued at $50,000 after acquiring an additional 163 shares during the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

In other news, CAO Brian D. Lazarus sold 24,263 shares of the stock in a transaction on Friday, September 3rd. The stock was sold at an average price of $366.17, for a total value of $8,884,382.71. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Thomas P. Hunt sold 67,112 shares of the stock in a transaction on Friday, September 3rd. The shares were sold at an average price of $365.47, for a total value of $24,527,422.64. Following the completion of the sale, the vice president now owns 44,884 shares in the company, valued at $16,403,755.48. The disclosure for this sale can be found here. Insiders have sold 292,752 shares of company stock worth $105,204,175 over the last 90 days. 2.20% of the stock is owned by insiders.

NASDAQ:SBAC opened at $356.57 on Wednesday. The stock’s fifty day moving average is $347.58 and its two-hundred day moving average is $310.95. SBA Communications Co. has a 52 week low of $232.88 and a 52 week high of $369.56. The stock has a market capitalization of $39.06 billion, a price-to-earnings ratio of 148.57 and a beta of 0.21.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Sunday, August 1st. The technology company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.69. SBA Communications had a negative return on equity of 5.61% and a net margin of 12.33%. The company had revenue of $575.40 million for the quarter, compared to analysts’ expectations of $559.96 million. During the same period in the prior year, the firm earned $0.20 earnings per share. The firm’s revenue was up 13.4% compared to the same quarter last year. As a group, equities analysts predict that SBA Communications Co. will post 9.9 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 23rd. Shareholders of record on Thursday, August 26th will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Wednesday, August 25th. SBA Communications’s dividend payout ratio (DPR) is 24.58%.

SBAC has been the subject of a number of analyst reports. Credit Suisse Group upped their price target on SBA Communications from $312.00 to $325.00 and gave the company a “neutral” rating in a research report on Tuesday, August 3rd. Cowen upped their price target on SBA Communications from $337.00 to $347.00 and gave the company an “outperform” rating in a research report on Tuesday, August 3rd. Wells Fargo & Company upped their price target on SBA Communications from $350.00 to $375.00 and gave the company an “overweight” rating in a research report on Tuesday, August 3rd. Truist upped their price target on SBA Communications from $335.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, August 3rd. Finally, Barclays upped their price target on SBA Communications from $335.00 to $372.00 and gave the company an “overweight” rating in a research report on Tuesday, August 3rd. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $360.75.

SBA Communications Company Profile

SBA Communications Corp. is a real estate investment trust, which engages in the provision of wireless communications infrastructures. It operates through the following business segments: Domestic Site Leasing, International Site Leasing, and Site Development. The Domestic Site Leasing segment includes AT&T, Sprint, T-Mobile, and Verizon Wireless.

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Institutional Ownership by Quarter for SBA Communications (NASDAQ:SBAC)

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