SBA Communications Corporation $SBAC Shares Purchased by Legal & General Group Plc

Legal & General Group Plc raised its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 5.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,499,036 shares of the technology company’s stock after buying an additional 76,440 shares during the period. Legal & General Group Plc owned approximately 1.41% of SBA Communications worth $289,959,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Aberdeen Group plc increased its stake in SBA Communications by 12.4% during the 4th quarter. Aberdeen Group plc now owns 202,452 shares of the technology company’s stock valued at $39,160,000 after buying an additional 22,293 shares during the period. Nordea Investment Management AB increased its stake in SBA Communications by 5.4% during the 4th quarter. Nordea Investment Management AB now owns 1,245,399 shares of the technology company’s stock valued at $241,234,000 after buying an additional 63,323 shares during the period. OFI Invest Asset Management acquired a new position in SBA Communications during the 4th quarter valued at about $17,915,000. VCI Wealth Management LLC acquired a new position in SBA Communications during the 4th quarter valued at about $1,786,000. Finally, ProShare Advisors LLC grew its stake in shares of SBA Communications by 27.5% in the 3rd quarter. ProShare Advisors LLC now owns 38,988 shares of the technology company’s stock worth $7,538,000 after purchasing an additional 8,404 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SBAC shares. Scotiabank lifted their price objective on shares of SBA Communications from $223.00 to $230.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. Barclays lifted their price objective on shares of SBA Communications from $244.00 to $245.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. KeyCorp lifted their price objective on shares of SBA Communications from $235.00 to $250.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Royal Bank Of Canada lifted their price objective on shares of SBA Communications from $215.00 to $220.00 and gave the stock an “outperform” rating in a research note 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 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $237.22.

SBA Communications Price Performance

SBA Communications stock opened at $201.73 on Wednesday. The firm’s 50 day simple moving average is $203.11 and its 200-day simple moving average is $195.87. The company has a market cap of $21.40 billion, a P/E ratio of 21.23, a price-to-earnings-growth ratio of 2.05 and a beta of 1.03. SBA Communications Corporation has a fifty-two week low of $162.41 and a fifty-two week high of $243.16.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Thursday, February 26th. The technology company reported $3.47 earnings per share for the quarter, topping the consensus estimate of $3.25 by $0.22. The business had revenue of $719.58 million for the quarter, compared to the consensus estimate of $725.80 million. SBA Communications had a net margin of 35.66% and a negative return on equity of 20.90%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the firm posted $3.47 earnings per share. On average, analysts expect that SBA Communications Corporation will post 11.42 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Friday, May 22nd will be given a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, May 22nd. SBA Communications’s dividend payout ratio (DPR) is 52.63%.

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.