MJP Associates Inc. ADV Raises Position in SBA Communications Co. (NASDAQ:SBAC)

MJP Associates Inc. ADV boosted its position in shares of SBA Communications Co. (NASDAQ:SBACFree Report) by 272.5% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 4,250 shares of the technology company’s stock after buying an additional 3,109 shares during the period. MJP Associates Inc. ADV’s holdings in SBA Communications were worth $921,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Tealwood Asset Management Inc. boosted its position in SBA Communications by 2.5% during the first quarter. Tealwood Asset Management Inc. now owns 4,771 shares of the technology company’s stock worth $1,034,000 after acquiring an additional 117 shares during the last quarter. Banque Cantonale Vaudoise grew its position in shares of SBA Communications by 80.3% in the first quarter. Banque Cantonale Vaudoise now owns 10,433 shares of the technology company’s stock valued at $2,260,000 after purchasing an additional 4,645 shares in the last quarter. Czech National Bank increased its holdings in shares of SBA Communications by 0.5% in the first quarter. Czech National Bank now owns 18,982 shares of the technology company’s stock valued at $4,113,000 after purchasing an additional 86 shares during the last quarter. Fulton Bank N.A. lifted its position in SBA Communications by 10.6% during the first quarter. Fulton Bank N.A. now owns 1,140 shares of the technology company’s stock worth $247,000 after buying an additional 109 shares in the last quarter. Finally, Perpetual Ltd boosted its stake in SBA Communications by 18.2% during the first quarter. Perpetual Ltd now owns 1,562 shares of the technology company’s stock worth $338,000 after buying an additional 240 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Stock Up 2.0 %

NASDAQ:SBAC traded up $3.85 during trading hours on Friday, reaching $194.63. 1,193,645 shares of the stock were exchanged, compared to its average volume of 710,603. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $258.76. The business has a 50-day moving average of $195.06 and a two-hundred day moving average of $215.64. The company has a market capitalization of $20.91 billion, a price-to-earnings ratio of 38.16, a PEG ratio of 0.61 and a beta of 0.65.

SBA Communications (NASDAQ:SBACGet Free Report) last posted its quarterly earnings data on Monday, April 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.21. SBA Communications had a negative return on equity of 10.75% and a net margin of 20.61%. The firm had revenue of $657.86 million for the quarter, compared to the consensus estimate of $671.08 million. During the same quarter in the previous year, the business earned $3.13 EPS. The company’s quarterly revenue was down 2.6% compared to the same quarter last year. On average, research analysts forecast that SBA Communications Co. will post 12.52 EPS for the current fiscal year.

SBA Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Thursday, May 23rd were issued a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date was Wednesday, May 22nd. SBA Communications’s dividend payout ratio (DPR) is currently 76.86%.

Analyst Ratings Changes

SBAC has been the subject of a number of recent research reports. KeyCorp cut their target price on SBA Communications from $276.00 to $227.00 and set an “overweight” rating for the company in a research note on Tuesday, April 30th. Barclays decreased their target price on shares of SBA Communications from $241.00 to $240.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. TD Cowen cut their price target on shares of SBA Communications from $266.00 to $253.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. BMO Capital Markets decreased their price objective on SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a report on Tuesday, February 27th. Finally, Citigroup lowered their price objective on SBA Communications from $290.00 to $260.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. Eleven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $252.17.

Get Our Latest Analysis on SBA Communications

About SBA Communications

(Free Report)

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.

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Institutional Ownership by Quarter for SBA Communications (NASDAQ:SBAC)

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