Lbp Am Sa Buys 2,003 Shares of SBA Communications Co. (NASDAQ:SBAC)

Lbp Am Sa grew its stake in SBA Communications Co. (NASDAQ:SBAC) by 94.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,125 shares of the technology company’s stock after purchasing an additional 2,003 shares during the period. Lbp Am Sa’s holdings in SBA Communications were worth $894,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SBAC. Allworth Financial LP raised its holdings in shares of SBA Communications by 37.8% in 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 during the period. Quaero Capital S.A. boosted its position in shares of SBA Communications by 1.4% in the 4th quarter. Quaero Capital S.A. now owns 3,730 shares of the technology company’s stock worth $946,000 after purchasing an additional 50 shares in the last quarter. Marks Group Wealth Management Inc boosted its position in shares of SBA Communications by 4.4% in the 4th quarter. Marks Group Wealth Management Inc now owns 1,274 shares of the technology company’s stock worth $323,000 after purchasing an additional 54 shares in the last quarter. Ballentine Partners LLC boosted its position in shares of SBA Communications by 2.7% in the 1st quarter. Ballentine Partners LLC now owns 2,068 shares of the technology company’s stock worth $448,000 after purchasing an additional 55 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. boosted its position in shares of SBA Communications by 3.9% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 1,560 shares of the technology company’s stock worth $338,000 after purchasing an additional 58 shares in the last quarter. 97.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SBAC. BMO Capital Markets lowered their price objective on SBA Communications from $250.00 to $245.00 and set an “outperform” rating for the company in a research report on Tuesday. Citigroup lowered their price target on SBA Communications from $290.00 to $260.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. Royal Bank of Canada lowered their price target on SBA Communications from $250.00 to $235.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. TD Cowen lowered their price target on SBA Communications from $253.00 to $251.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, KeyCorp lifted their price target on SBA Communications from $227.00 to $230.00 and gave the stock an “overweight” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, SBA Communications presently has an average rating of “Moderate Buy” and an average price target of $240.83.

SBA Communications Stock Performance

Shares of SBA Communications stock traded up $2.04 on Friday, hitting $229.20. The company’s stock had a trading volume of 1,027,349 shares, compared to its average volume of 958,990. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $258.76. The firm has a fifty day moving average price of $199.60 and a 200-day moving average price of $206.99. The company has a market capitalization of $24.63 billion, a price-to-earnings ratio of 44.54, a price-to-earnings-growth ratio of 0.70 and a beta of 0.65.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings data on Monday, July 29th. The technology company reported $1.51 EPS for the quarter, missing the consensus estimate of $2.07 by ($0.56). SBA Communications had a negative return on equity of 9.85% and a net margin of 19.22%. The firm had revenue of $660.50 million for the quarter, compared to analysts’ expectations of $665.21 million. During the same quarter last year, the firm posted $3.24 earnings per share. SBA Communications’s quarterly revenue was down 2.7% on a year-over-year basis. As a group, analysts forecast that SBA Communications Co. will post 12.53 EPS for the current year.

SBA Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Thursday, August 22nd will be issued a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Thursday, August 22nd. SBA Communications’s dividend payout ratio is currently 76.86%.

About SBA Communications

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.