SBA Communications Co. (NASDAQ:SBAC) Shares Sold by NBC Securities Inc.

NBC Securities Inc. reduced its position in SBA Communications Co. (NASDAQ:SBAC) by 1.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,524 shares of the technology company’s stock after selling 244 shares during the quarter. NBC Securities Inc.’s holdings in SBA Communications were worth $2,713,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SBAC. Kapitalo Investimentos Ltda acquired a new position in shares of SBA Communications during the 4th quarter worth approximately $134,000. Nomura Holdings Inc. purchased a new stake in SBA Communications in the 4th quarter valued at $7,422,000. PNC Financial Services Group Inc. increased its stake in shares of SBA Communications by 0.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 18,060 shares of the technology company’s stock worth $4,582,000 after acquiring an additional 76 shares during the last quarter. Leo Wealth LLC purchased a new position in shares of SBA Communications during the 4th quarter worth $10,922,000. Finally, Wellington Management Group LLP boosted its position in shares of SBA Communications by 596.2% during the 4th quarter. Wellington Management Group LLP now owns 225,128 shares of the technology company’s stock valued at $57,113,000 after acquiring an additional 192,791 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Performance

NASDAQ SBAC remained flat at $191.19 on Wednesday. 530,571 shares of the company’s stock traded hands, compared to its average volume of 774,329. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $258.76. The firm has a fifty day simple moving average of $195.75 and a 200-day simple moving average of $216.62. The firm has a market cap of $20.54 billion, a P/E ratio of 37.49, a PEG ratio of 0.61 and a beta of 0.65.

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

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Thursday, May 23rd will be paid a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Wednesday, May 22nd. SBA Communications’s payout ratio is 76.86%.

Analyst Ratings Changes

SBAC has been the topic of several research analyst reports. TD Cowen reduced their price objective on shares of SBA Communications from $266.00 to $253.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Bank of America raised shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price target on the stock in a research note on Thursday, March 7th. StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a report on Tuesday, June 11th. Citigroup dropped their target price on shares of SBA Communications from $290.00 to $260.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. Finally, Royal Bank of Canada decreased their price target on SBA Communications from $250.00 to $235.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, SBA Communications presently has an average rating of “Buy” and an average target price of $252.17.

About SBA Communications

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.