Perpetual Ltd Boosts Stake in SBA Communications Co. (NASDAQ:SBAC)

Perpetual Ltd lifted its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 18.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,562 shares of the technology company’s stock after acquiring an additional 240 shares during the quarter. Perpetual Ltd’s holdings in SBA Communications were worth $338,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Allworth Financial LP increased its holdings in SBA Communications by 37.8% during the fourth quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock valued at $42,000 after buying an additional 45 shares during the period. Quaero Capital S.A. increased its holdings in SBA Communications by 1.4% during the fourth quarter. Quaero Capital S.A. now owns 3,730 shares of the technology company’s stock valued at $946,000 after buying an additional 50 shares during the period. Marks Group Wealth Management Inc increased its holdings in SBA Communications by 4.4% during the fourth quarter. Marks Group Wealth Management Inc now owns 1,274 shares of the technology company’s stock valued at $323,000 after buying an additional 54 shares during the period. Warwick Investment Management Inc. increased its holdings in SBA Communications by 6.1% during the fourth quarter. Warwick Investment Management Inc. now owns 1,061 shares of the technology company’s stock valued at $269,000 after buying an additional 61 shares during the period. Finally, Pinnacle Bancorp Inc. boosted its stake in SBA Communications by 73.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock valued at $40,000 after acquiring an additional 67 shares in the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

SBA Communications Price Performance

Shares of SBA Communications stock opened at $194.63 on Friday. The firm has a fifty day moving average price of $195.06 and a 200 day moving average price of $215.88. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $258.76. The stock has a market cap of $20.91 billion, a PE ratio of 38.16, a price-to-earnings-growth ratio of 0.61 and a beta of 0.65.

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

SBA Communications Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Royal Bank of Canada lowered their target price on shares of SBA Communications from $250.00 to $235.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a research note on Thursday. Barclays lowered their target price on shares of SBA Communications from $241.00 to $240.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. BMO Capital Markets lowered their target price on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a research note on Tuesday, February 27th. Finally, TD Cowen lowered their price objective on shares of SBA Communications from $266.00 to $253.00 and set a “buy” rating for the company in a research note on Tuesday, April 30th. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $252.17.

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.