Los Angeles Capital Management LLC Boosts Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Los Angeles Capital Management LLC boosted its stake in shares of SBA Communications Co. (NASDAQ:SBACFree Report) by 8.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 141,957 shares of the technology company’s stock after purchasing an additional 10,870 shares during the period. Los Angeles Capital Management LLC owned approximately 0.13% of SBA Communications worth $30,762,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Kapitalo Investimentos Ltda purchased a new position in shares of SBA Communications in the 4th quarter valued at $134,000. Nomura Holdings Inc. acquired a new stake in SBA Communications during the 4th quarter valued at $7,422,000. PNC Financial Services Group Inc. grew its holdings in SBA Communications by 0.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 18,060 shares of the technology company’s stock valued at $4,582,000 after purchasing an additional 76 shares in the last quarter. Leo Wealth LLC acquired a new stake in SBA Communications during the 4th quarter valued at $10,922,000. Finally, Wellington Management Group LLP grew its holdings in SBA Communications by 596.2% during the 4th quarter. Wellington Management Group LLP now owns 225,128 shares of the technology company’s stock valued at $57,113,000 after purchasing an additional 192,791 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Performance

SBA Communications stock remained flat at $191.19 during mid-day trading on Wednesday. The company’s stock had a trading volume of 530,571 shares, compared to its average volume of 774,329. The company has a fifty day moving average of $195.75 and a 200 day moving average of $216.62. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $258.76. The stock has a market capitalization of $20.54 billion, a PE ratio of 37.49, a price-to-earnings-growth ratio of 0.61 and a beta of 0.65.

SBA Communications (NASDAQ:SBACGet Free Report) last posted its earnings results on Monday, April 29th. The technology company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.21. SBA Communications had a negative return on equity of 10.75% and a net margin of 20.61%. The company had revenue of $657.86 million during the quarter, compared to the consensus estimate of $671.08 million. During the same quarter last year, the firm earned $3.13 earnings per share. The company’s revenue was down 2.6% on a year-over-year basis. Equities research analysts forecast that SBA Communications Co. will post 12.52 EPS for the current year.

SBA Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Thursday, May 23rd will be issued a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Wednesday, May 22nd. SBA Communications’s dividend payout ratio is currently 76.86%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SBAC shares. TD Cowen decreased their price objective on shares of SBA Communications from $266.00 to $253.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. BMO Capital Markets reduced their price target on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 27th. StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a research report on Tuesday, June 11th. Citigroup cut their price objective on shares of SBA Communications from $290.00 to $260.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. Finally, Royal Bank of Canada dropped their price target on shares of SBA Communications from $250.00 to $235.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Eleven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, SBA Communications presently has a consensus rating of “Buy” and a consensus price target of $252.17.

View Our Latest Stock Analysis on SBA Communications

SBA Communications Company Profile

(Free Report)

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.

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

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