Jennison Associates LLC Acquires Shares of 3,874 SBA Communications Co. (NASDAQ:SBAC)

Jennison Associates LLC acquired a new stake in shares of SBA Communications Co. (NASDAQ:SBAC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,874 shares of the technology company’s stock, valued at approximately $983,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of SBAC. CWM LLC grew its holdings in shares of SBA Communications by 9.8% during the third quarter. CWM LLC now owns 1,049 shares of the technology company’s stock valued at $210,000 after purchasing an additional 94 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of SBA Communications by 10.8% during the third quarter. SG Americas Securities LLC now owns 6,881 shares of the technology company’s stock valued at $1,377,000 after purchasing an additional 670 shares during the last quarter. CreativeOne Wealth LLC bought a new position in shares of SBA Communications during the third quarter valued at approximately $202,000. Czech National Bank grew its holdings in shares of SBA Communications by 47.7% during the third quarter. Czech National Bank now owns 18,943 shares of the technology company’s stock valued at $3,792,000 after purchasing an additional 6,118 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its holdings in shares of SBA Communications by 0.4% during the third quarter. Asset Management One Co. Ltd. now owns 43,284 shares of the technology company’s stock valued at $8,664,000 after purchasing an additional 188 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Insiders Place Their Bets

In other news, Director Mary S. Chan sold 1,977 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $217.99, for a total transaction of $430,966.23. Following the completion of the sale, the director now owns 4,622 shares in the company, valued at approximately $1,007,549.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Barclays lowered their target price on SBA Communications from $260.00 to $255.00 and set an “overweight” rating for the company in a report on Wednesday, April 17th. Bank of America raised SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price objective for the company in a report on Thursday, March 7th. Finally, BMO Capital Markets decreased their price objective on SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a report on Tuesday, February 27th. One investment analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, SBA Communications currently has an average rating of “Buy” and a consensus price target of $268.00.

SBA Communications Price Performance

SBAC opened at $196.23 on Friday. The company has a market capitalization of $21.21 billion, a price-to-earnings ratio of 42.57, a price-to-earnings-growth ratio of 1.21 and a beta of 0.56. SBA Communications Co. has a 1-year low of $185.23 and a 1-year high of $263.08. The business has a 50 day moving average price of $210.01 and a two-hundred day moving average price of $222.70.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, February 26th. The technology company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.36). The firm had revenue of $675.00 million during the quarter, compared to analyst estimates of $682.11 million. SBA Communications had a negative return on equity of 9.70% and a net margin of 18.51%. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter last year, the company earned $3.11 earnings per share. Equities analysts expect that SBA Communications Co. will post 12.61 EPS for the current fiscal year.

SBA Communications Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 2.00%. This is an increase from SBA Communications’s previous quarterly dividend of $0.85. The ex-dividend date of this dividend was Wednesday, March 13th. SBA Communications’s dividend payout ratio is 85.03%.

SBA Communications Company Profile

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.