ING Groep NV Sells 132 Shares of SBA Communications Co. (NASDAQ:SBAC)

ING Groep NV lowered its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 1.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,238 shares of the technology company’s stock after selling 132 shares during the period. ING Groep NV’s holdings in SBA Communications were worth $2,009,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV lifted its stake in shares of SBA Communications by 20.9% in the 1st quarter. Mercer Global Advisors Inc. ADV now owns 1,411 shares of the technology company’s stock valued at $392,000 after acquiring an additional 244 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of SBA Communications by 40.3% in the 1st quarter. Acadian Asset Management LLC now owns 3,133 shares of the technology company’s stock valued at $870,000 after acquiring an additional 900 shares during the last quarter. Jacobi Capital Management LLC lifted its stake in shares of SBA Communications by 905.6% in the 1st 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. Teacher Retirement System of Texas lifted its stake in shares of SBA Communications by 131.3% in the 1st quarter. Teacher Retirement System of Texas now owns 94,577 shares of the technology company’s stock valued at $26,250,000 after acquiring an additional 53,692 shares during the last quarter. Finally, Synovus Financial Corp lifted its stake in shares of SBA Communications by 12.8% in the 1st quarter. Synovus Financial Corp now owns 9,005 shares of the technology company’s stock valued at $2,500,000 after acquiring an additional 1,020 shares during the last quarter. 93.04% of the stock is owned by institutional investors.

SBAC stock opened at $318.65 on Friday. SBA Communications Co. has a fifty-two week low of $232.88 and a fifty-two week high of $328.37. The stock’s 50 day moving average price is $294.21. The stock has a market cap of $34.84 billion, a P/E ratio of 259.07 and a beta of 0.20.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Sunday, April 25th. The technology company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.45). The firm had revenue of $548.70 million for the quarter, compared to analysts’ expectations of $540.79 million. SBA Communications had a negative return on equity of 2.99% and a net margin of 6.59%. The firm’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the company posted ($1.14) EPS. On average, research analysts predict that SBA Communications Co. will post 9.77 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 15th. Investors of record on Thursday, May 20th will be paid a $0.58 dividend. The ex-dividend date is Wednesday, May 19th. This represents a $2.32 annualized dividend and a dividend yield of 0.73%. SBA Communications’s payout ratio is currently 24.58%.

A number of brokerages recently issued reports on SBAC. Raymond James boosted their price target on SBA Communications from $309.00 to $346.00 and gave the company a “strong-buy” rating in a report on Tuesday, May 4th. Barclays boosted their price target on SBA Communications from $305.00 to $310.00 and gave the company an “overweight” rating in a report on Tuesday, February 23rd. Zacks Investment Research upgraded SBA Communications from a “sell” rating to a “hold” rating and set a $272.00 price target on the stock in a report on Friday, February 26th. KeyCorp boosted their price target on SBA Communications from $313.00 to $335.00 and gave the company an “overweight” rating in a report on Tuesday, April 27th. Finally, Jefferies Financial Group began coverage on SBA Communications in a report on Monday, April 12th. They set a “buy” rating and a $335.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $323.91.

In related news, Director Duncan Cocroft sold 1,804 shares of the company’s stock in a transaction that occurred on Tuesday, May 18th. The stock was sold at an average price of $290.27, for a total value of $523,647.08. Following the sale, the director now owns 66,592 shares in the company, valued at approximately $19,329,659.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.20% of the company’s stock.

SBA Communications Company Profile

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America and South Africa. By ÂBuilding Better Wireless, SBA generates revenue from two primary businesses Â- site leasing and site development services.

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

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