SG Americas Securities LLC Buys 171,644 Shares of SBA Communications Corporation $SBAC

SG Americas Securities LLC increased its position in shares of SBA Communications Corporation (NASDAQ:SBAC) by 8,430.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 173,680 shares of the technology company’s stock after buying an additional 171,644 shares during the quarter. SG Americas Securities LLC owned 0.16% of SBA Communications worth $33,595,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in SBA Communications in the 2nd quarter valued at approximately $351,084,000. Dodge & Cox grew its holdings in shares of SBA Communications by 12.3% during the 3rd quarter. Dodge & Cox now owns 9,667,297 shares of the technology company’s stock worth $1,869,172,000 after purchasing an additional 1,058,803 shares in the last quarter. Daiwa Securities Group Inc. increased its position in shares of SBA Communications by 1,328.4% during the second quarter. Daiwa Securities Group Inc. now owns 522,215 shares of the technology company’s stock valued at $122,637,000 after purchasing an additional 485,656 shares during the period. Nordea Investment Management AB increased its position in shares of SBA Communications by 65.0% during the third quarter. Nordea Investment Management AB now owns 1,182,076 shares of the technology company’s stock valued at $229,145,000 after purchasing an additional 465,558 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of SBA Communications by 2.3% in the third quarter. Vanguard Group Inc. now owns 18,163,536 shares of the technology company’s stock valued at $3,511,920,000 after purchasing an additional 403,285 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SBAC has been the subject of several research reports. Royal Bank Of Canada raised their target price on SBA Communications from $215.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, March 2nd. JPMorgan Chase & Co. dropped their price objective on shares of SBA Communications from $245.00 to $240.00 and set a “neutral” rating for the company in a research note on Monday, January 12th. Wells Fargo & Company reduced their price objective on shares of SBA Communications from $205.00 to $195.00 and set an “equal weight” rating for the company in a report on Friday, February 27th. Scotiabank decreased their target price on shares of SBA Communications from $233.00 to $223.00 and set a “sector perform” rating on the stock in a research report on Monday, March 2nd. Finally, Sanford C. Bernstein started coverage on shares of SBA Communications in a research note on Thursday, March 5th. They issued a “market perform” rating and a $218.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $232.17.

SBA Communications Price Performance

SBA Communications stock opened at $165.15 on Thursday. The business has a 50 day simple moving average of $189.43 and a 200 day simple moving average of $191.88. The company has a market capitalization of $17.47 billion, a PE ratio of 17.33, a price-to-earnings-growth ratio of 1.65 and a beta of 0.86. SBA Communications Corporation has a one year low of $162.41 and a one year high of $245.16.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results on Thursday, February 26th. The technology company reported $3.47 earnings per share for the quarter, beating analysts’ consensus estimates of $3.25 by $0.22. SBA Communications had a negative return on equity of 20.81% and a net margin of 36.40%.The firm had revenue of $719.58 million for the quarter, compared to analysts’ expectations of $725.80 million. During the same period in the prior year, the business posted $3.47 earnings per share. The business’s revenue was up 3.7% compared to the same quarter last year. Equities analysts anticipate that SBA Communications Corporation will post 12.57 earnings per share for the current fiscal year.

SBA Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be given a dividend of $1.25 per share. This is an increase from SBA Communications’s previous quarterly dividend of $1.11. The ex-dividend date is Friday, March 13th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.0%. SBA Communications’s dividend payout ratio is 52.47%.

SBA Communications Company Profile

SBA Communications Corporation (NASDAQ: SBAC) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its core business is the leasing of space on communications towers, rooftop sites and other wireless structures to mobile network operators, broadband providers and other wireless service customers. The company also provides site development, construction and ongoing site management services to support the deployment and operation of wireless networks.

In addition to traditional macro towers, SBA offers a range of infrastructure solutions designed for dense urban and suburban markets, including small cells, distributed antenna systems (DAS) and fiber backhaul and transport services.