BI Asset Management Fondsmaeglerselskab A S Has $1.11 Million Position in SBA Communications Co. (NASDAQ:SBAC)

BI Asset Management Fondsmaeglerselskab A S grew its holdings in SBA Communications Co. (NASDAQ:SBAC) by 14.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,112 shares of the technology company’s stock after buying an additional 650 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in SBA Communications were worth $1,108,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Central Pacific Bank Trust Division acquired a new position in SBA Communications during the 1st quarter worth $125,000. FORA Capital LLC acquired a new position in shares of SBA Communications during the first quarter valued at $4,872,000. Nordea Investment Management AB boosted its holdings in SBA Communications by 28.8% in the first quarter. Nordea Investment Management AB now owns 350,533 shares of the technology company’s stock valued at $76,486,000 after acquiring an additional 78,468 shares during the last quarter. Fidelis Capital Partners LLC increased its position in SBA Communications by 9.3% in the first quarter. Fidelis Capital Partners LLC now owns 1,310 shares of the technology company’s stock worth $284,000 after purchasing an additional 112 shares during the period. Finally, Janney Montgomery Scott LLC raised its holdings in SBA Communications by 72.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 2,389 shares of the technology company’s stock worth $518,000 after purchasing an additional 1,004 shares during the last quarter. 97.35% of the stock is owned by institutional investors.

SBA Communications Stock Down 0.7 %

Shares of SBAC traded down $1.38 on Wednesday, hitting $194.15. The company’s stock had a trading volume of 63,496 shares, compared to its average volume of 942,171. The firm’s fifty day moving average price is $194.27 and its 200-day moving average price is $210.82. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $258.76. The firm has a market capitalization of $20.86 billion, a price-to-earnings ratio of 38.34, a P/E/G ratio of 0.62 and a beta of 0.65.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, April 29th. The technology company reported $1.42 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $657.86 million during the quarter, compared to analysts’ expectations of $671.08 million. During the same quarter in the prior year, the company earned $3.13 earnings per share. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. As a group, equities analysts predict that SBA Communications Co. will post 12.51 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently declared 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 of this dividend was Wednesday, May 22nd. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.02%. SBA Communications’s dividend payout ratio (DPR) is 76.86%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. TD Cowen lowered their price target on shares of SBA Communications from $266.00 to $253.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. Citigroup lowered their target price 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. Wells Fargo & Company cut their price target on SBA Communications from $260.00 to $230.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 30th. Royal Bank of Canada reduced their price target on SBA Communications from $250.00 to $235.00 and set an “outperform” rating on the stock in a research report on Thursday, May 9th. Finally, The Goldman Sachs Group started coverage on SBA Communications in a report on Monday, July 1st. They issued a “neutral” rating and a $212.00 price objective for the company. Two analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, SBA Communications has a consensus rating of “Moderate Buy” and an average target price of $249.08.

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.