Los Angeles Capital Management LLC boosted its position in SBA Communications Co. (NASDAQ: SBAC – Get Rating) by 75.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 235,187 shares of the technology company’s stock after purchasing an additional 100,863 shares during the period. Los Angeles Capital Management LLC owned about 0.22% of SBA Communications worth $66,946,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in SBAC. Raymond James Trust N.A. boosted its holdings in SBA Communications by 19.0% during the first quarter. Raymond James Trust N.A. now owns 1,925 shares of the technology company’s stock worth $662,000 after buying an additional 307 shares in the last quarter. Vontobel Holding Ltd. lifted its holdings in shares of SBA Communications by 19.6% during the 1st quarter. Vontobel Holding Ltd. now owns 2,987 shares of the technology company’s stock worth $1,024,000 after acquiring an additional 489 shares during the period. Prudential PLC purchased a new stake in shares of SBA Communications during the 1st quarter valued at $568,000. Sequoia Financial Advisors LLC purchased a new position in shares of SBA Communications in the 1st quarter worth about $234,000. Finally, Zions Bancorporation N.A. lifted its position in SBA Communications by 157.6% during the first quarter. Zions Bancorporation N.A. now owns 322 shares of the technology company’s stock valued at $111,000 after buying an additional 197 shares in the last quarter. Hedge funds and other institutional investors own 93.54% of the company’s stock.
A number of analysts have recently issued reports on the stock. The Goldman Sachs Group dropped their price objective on shares of SBA Communications from $384.00 to $340.00 and set a “buy” rating on the stock in a research note on Wednesday, October 12th. Raymond James upped their price objective on SBA Communications from $308.00 to $334.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, November 23rd. UBS Group reduced their price objective on SBA Communications to $365.00 in a research report on Friday, November 4th. KeyCorp lowered their target price on shares of SBA Communications from $389.00 to $335.00 and set an “overweight” rating on the stock in a research note on Monday, October 3rd. Finally, Morgan Stanley dropped their price objective on SBA Communications from $366.00 to $309.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 18th. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, SBA Communications presently has an average rating of “Moderate Buy” and a consensus target price of $341.27.
SBA Communications Stock Performance
NASDAQ SBAC traded up $0.11 during trading on Monday, hitting $306.55. The stock had a trading volume of 21,359 shares, compared to its average volume of 619,989. SBA Communications Co. has a 12-month low of $236.20 and a 12-month high of $379.99. The company’s 50-day moving average price is $289.84 and its two-hundred-day moving average price is $301.29. The company has a market capitalization of $33.10 billion, a PE ratio of 82.63, and a beta of 0.49.
SBA Communications (NASDAQ: SBAC – Get Rating) last issued its quarterly earnings results on Monday, October 31st. The technology company reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.04). SBA Communications had a net margin of 16.01% and a negative return on equity of 7.57%. The business had revenue of $675.60 million during the quarter, compared to analyst estimates of $651.42 million. During the same quarter in the previous year, the firm posted $2.71 in earnings per share. The firm’s quarterly revenue was up 14.6% on a year-over-year basis. As a group, equities analysts anticipate that SBA Communications Co. will post 11.35 earnings per share for the current fiscal year.
SBA Communications Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, December 15th. Investors of record on Thursday, November 17th were given a dividend of $0.71 per share. The ex-dividend date was Wednesday, November 16th. This represents a $2.84 annualized dividend and a yield of 0.93%. SBA Communications’s dividend payout ratio (DPR) is presently 76.55%.Source: Marketbeat