NBC Securities Inc. Sells 244 Shares of SBA Communications Co. (NASDAQ:SBAC)

NBC Securities Inc. trimmed its position in SBA Communications Co. (NASDAQ:SBACFree Report) by 1.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,524 shares of the technology company’s stock after selling 244 shares during the period. NBC Securities Inc.’s holdings in SBA Communications were worth $2,713,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Nordea Investment Management AB lifted its position in shares of SBA Communications by 6.3% during the 4th quarter. Nordea Investment Management AB now owns 272,065 shares of the technology company’s stock valued at $68,854,000 after buying an additional 16,244 shares in the last quarter. Legacy Trust purchased a new position in SBA Communications during the fourth quarter valued at approximately $3,256,000. Franklin Resources Inc. increased its stake in shares of SBA Communications by 2.8% in the fourth quarter. Franklin Resources Inc. now owns 707,743 shares of the technology company’s stock worth $179,547,000 after purchasing an additional 19,462 shares in the last quarter. Nomura Holdings Inc. bought a new stake in shares of SBA Communications during the 4th quarter valued at $7,422,000. Finally, Clear Rock Advisors LLC bought a new position in SBA Communications in the 4th quarter worth $1,900,000. 97.35% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SBAC has been the topic of a number of recent analyst reports. Wells Fargo & Company decreased their price target on SBA Communications from $260.00 to $230.00 and set an “overweight” rating on the stock in a report on Tuesday, April 30th. TD Cowen lowered their price target on SBA Communications from $266.00 to $253.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Citigroup cut their price objective on shares of SBA Communications from $290.00 to $260.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. BMO Capital Markets lowered their target price on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a report on Tuesday, February 27th. Finally, StockNews.com raised shares of SBA Communications from a “hold” rating to a “buy” rating in a research note on Tuesday, June 11th. Eleven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $252.17.

Get Our Latest Report on SBA Communications

SBA Communications Price Performance

NASDAQ SBAC remained flat at $191.19 on Wednesday. 530,571 shares of the company’s stock traded hands, compared to its average volume of 774,329. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $258.76. The stock has a market capitalization of $20.54 billion, a price-to-earnings ratio of 37.49, a P/E/G ratio of 0.61 and a beta of 0.65. The business has a 50-day moving average price of $195.75 and a two-hundred day moving average price of $216.62.

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

SBA Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Thursday, May 23rd will be paid 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%.

About SBA Communications

(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.

See Also

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

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