SBA Communications Co. (NASDAQ:SBAC) Shares Acquired by First Bank & Trust

First Bank & Trust lifted its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 3.6% during the first quarter, Holdings Channel reports. The firm owned 6,967 shares of the technology company’s stock after buying an additional 240 shares during the period. First Bank & Trust’s holdings in SBA Communications were worth $1,510,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in SBAC. Wealth Enhancement Advisory Services LLC grew its holdings in SBA Communications by 6.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,722 shares of the technology company’s stock worth $807,000 after buying an additional 237 shares in the last quarter. Sunbelt Securities Inc. grew its holdings in SBA Communications by 20.8% in the 1st quarter. Sunbelt Securities Inc. now owns 441 shares of the technology company’s stock worth $96,000 after buying an additional 76 shares in the last quarter. Gateway Investment Advisers LLC grew its holdings in SBA Communications by 67.8% in the 1st quarter. Gateway Investment Advisers LLC now owns 4,223 shares of the technology company’s stock worth $915,000 after buying an additional 1,706 shares in the last quarter. True North Advisors LLC grew its holdings in SBA Communications by 6.6% in the 1st quarter. True North Advisors LLC now owns 1,022 shares of the technology company’s stock worth $221,000 after buying an additional 63 shares in the last quarter. Finally, Washington Capital Management Inc. grew its holdings in SBA Communications by 12.0% in the 1st quarter. Washington Capital Management Inc. now owns 3,455 shares of the technology company’s stock worth $749,000 after buying an additional 370 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SBAC has been the subject of a number of recent analyst reports. StockNews.com lowered SBA Communications from a “buy” rating to a “hold” rating in a report on Friday. Citigroup decreased their price target on SBA Communications from $290.00 to $260.00 and set a “buy” rating for the company in a research note on Tuesday, April 30th. KeyCorp decreased their price target on SBA Communications from $276.00 to $227.00 and set an “overweight” rating for the company in a research note on Tuesday, April 30th. Wells Fargo & Company decreased their price target on SBA Communications from $260.00 to $230.00 and set an “overweight” rating for the company in a research note on Tuesday, April 30th. Finally, Barclays decreased their price target on SBA Communications from $241.00 to $240.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, SBA Communications currently has an average rating of “Buy” and an average price target of $252.17.

SBA Communications Price Performance

Shares of SBAC traded down $0.65 during trading hours on Friday, hitting $196.30. 1,463,509 shares of the company were exchanged, compared to its average volume of 758,484. The company has a market capitalization of $21.09 billion, a PE ratio of 38.49, a PEG ratio of 0.63 and a beta of 0.65. The firm has a fifty day simple moving average of $194.93 and a 200-day simple moving average of $213.88. SBA Communications Co. has a one year low of $183.64 and a one year high of $258.76.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, April 29th. The technology company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.21. The business had revenue of $657.86 million during the quarter, compared to analyst estimates of $671.08 million. SBA Communications had a negative return on equity of 10.75% and a net margin of 20.61%. The company’s revenue was down 2.6% compared to the same quarter last year. During the same period last year, the company posted $3.13 EPS. Sell-side analysts expect that SBA Communications Co. will post 12.51 EPS for the current year.

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Thursday, May 23rd were issued a $0.98 dividend. The ex-dividend date was Wednesday, May 22nd. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.00%. SBA Communications’s payout ratio is currently 76.86%.

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.