Maryland State Retirement & Pension System Increases Position in SBA Communications Corporation $SBAC

Maryland State Retirement & Pension System raised its stake in SBA Communications Corporation (NASDAQ:SBAC) by 2.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 104,940 shares of the technology company’s stock after purchasing an additional 2,887 shares during the period. Maryland State Retirement & Pension System owned 0.10% of SBA Communications worth $20,290,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in SBAC. Jones Financial Companies Lllp boosted its stake in shares of SBA Communications by 272.8% during the first quarter. Jones Financial Companies Lllp now owns 753 shares of the technology company’s stock worth $166,000 after buying an additional 551 shares during the period. Empowered Funds LLC raised its holdings in shares of SBA Communications by 12.6% in the first quarter. Empowered Funds LLC now owns 2,041 shares of the technology company’s stock worth $449,000 after acquiring an additional 229 shares during the last quarter. Focus Partners Wealth boosted its stake in shares of SBA Communications by 9.0% in the first quarter. Focus Partners Wealth now owns 3,236 shares of the technology company’s stock valued at $712,000 after purchasing an additional 266 shares during the period. Geneos Wealth Management Inc. increased its stake in SBA Communications by 105.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after buying an additional 84 shares during the period. Finally, Parallel Advisors LLC boosted its position in SBA Communications by 8.7% in the 2nd quarter. Parallel Advisors LLC now owns 1,022 shares of the technology company’s stock valued at $240,000 after buying an additional 82 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Stock Up 1.1%

Shares of NASDAQ SBAC opened at $194.11 on Friday. The firm’s 50-day simple moving average is $191.96 and its 200 day simple moving average is $203.29. The stock has a market cap of $20.68 billion, a P/E ratio of 25.31, a P/E/G ratio of 1.71 and a beta of 0.87. SBA Communications Corporation has a fifty-two week low of $179.89 and a fifty-two week high of $245.16.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings data on Monday, November 3rd. The technology company reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.21 by $0.09. SBA Communications had a net margin of 29.69% and a negative return on equity of 16.60%. The company had revenue of $732.33 million during the quarter, compared to analyst estimates of $715.65 million. During the same quarter last year, the firm posted $3.32 EPS. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, sell-side analysts anticipate that SBA Communications Corporation will post 12.57 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Thursday, November 13th were paid a $1.11 dividend. The ex-dividend date was Thursday, November 13th. This represents a $4.44 dividend on an annualized basis and a yield of 2.3%. SBA Communications’s payout ratio is 57.89%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. TD Cowen dropped their target price on SBA Communications from $249.00 to $237.00 and set a “buy” rating on the stock in a research report on Tuesday, November 4th. BMO Capital Markets decreased their price target on shares of SBA Communications from $215.00 to $210.00 and set a “market perform” rating for the company in a research report on Tuesday, November 4th. Barclays cut their target price on shares of SBA Communications from $219.00 to $212.00 and set an “overweight” rating on the stock in a research note on Monday, December 1st. The Goldman Sachs Group decreased their price target on SBA Communications from $250.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, October 1st. Finally, JPMorgan Chase & Co. reduced their target price on SBA Communications from $245.00 to $240.00 and set a “neutral” rating on the stock in a report on Monday, January 12th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $233.59.

SBA Communications Profile

SBA Communications Corporation (NASDAQ: SBAC) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its core business is the leasing of space on communications towers, rooftop sites and other wireless structures to mobile network operators, broadband providers and other wireless service customers. The company also provides site development, construction and ongoing site management services to support the deployment and operation of wireless networks.

In addition to traditional macro towers, SBA offers a range of infrastructure solutions designed for dense urban and suburban markets, including small cells, distributed antenna systems (DAS) and fiber backhaul and transport services.