Natixis Advisors LLC raised its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC – Free Report) by 34.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 132,112 shares of the technology company’s stock after purchasing an additional 34,167 shares during the quarter. Natixis Advisors LLC’s holdings in SBA Communications were worth $25,554,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also bought and sold shares of the business. Jones Financial Companies Lllp lifted its holdings in shares of SBA Communications by 272.8% in the 1st quarter. Jones Financial Companies Lllp now owns 753 shares of the technology company’s stock worth $166,000 after acquiring an additional 551 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of SBA Communications by 12.6% in the 1st 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 lifted its holdings in shares of SBA Communications by 9.0% in the 1st quarter. Focus Partners Wealth now owns 3,236 shares of the technology company’s stock worth $712,000 after acquiring an additional 266 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of SBA Communications by 105.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after acquiring an additional 84 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of SBA Communications by 11.3% in the 2nd quarter. First Trust Advisors LP now owns 94,692 shares of the technology company’s stock worth $22,238,000 after acquiring an additional 9,617 shares during the last quarter. Institutional investors own 97.35% of the company’s stock.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on SBAC. Barclays raised their target price on shares of SBA Communications from $244.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Morgan Stanley raised their target price on shares of SBA Communications from $215.00 to $225.00 and gave the stock an “equal weight” rating in a report on Thursday, April 9th. Wells Fargo & Company raised their target price on shares of SBA Communications from $195.00 to $220.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 7th. Scotiabank raised their target price on shares of SBA Communications from $223.00 to $230.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. Finally, Royal Bank Of Canada raised their target price on shares of SBA Communications from $215.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, SBA Communications presently has a consensus rating of “Moderate Buy” and an average target price of $237.22.
SBA Communications Price Performance
SBAC stock opened at $207.85 on Friday. The company has a market capitalization of $22.04 billion, a PE ratio of 21.88, a P/E/G ratio of 1.96 and a beta of 0.99. SBA Communications Corporation has a 12 month low of $162.41 and a 12 month high of $243.16. The firm’s 50-day moving average is $206.31 and its 200 day moving average is $196.05.
SBA Communications Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Friday, May 22nd will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, May 22nd. SBA Communications’s dividend payout ratio (DPR) is currently 52.63%.
SBA Communications Company 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.
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