Commerzbank Aktiengesellschaft FI Buys New Holdings in SBA Communications Corporation $SBAC

Commerzbank Aktiengesellschaft FI purchased a new position in SBA Communications Corporation (NASDAQ:SBAC) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 8,995 shares of the technology company’s stock, valued at approximately $1,587,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Dodge & Cox increased its stake in SBA Communications by 24.1% during the 4th quarter. Dodge & Cox now owns 11,996,134 shares of the technology company’s stock valued at $2,320,412,000 after purchasing an additional 2,328,837 shares in the last quarter. State Street Corp grew its holdings in shares of SBA Communications by 3.3% during the fourth quarter. State Street Corp now owns 4,911,615 shares of the technology company’s stock valued at $950,054,000 after buying an additional 158,738 shares during the last quarter. Geode Capital Management LLC increased its position in shares of SBA Communications by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 3,085,112 shares of the technology company’s stock worth $594,655,000 after acquiring an additional 16,153 shares in the last quarter. Diamond Hill Capital Management Inc. raised its holdings in shares of SBA Communications by 9.7% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 2,034,920 shares of the technology company’s stock worth $393,615,000 after acquiring an additional 179,591 shares during the last quarter. Finally, Invesco Ltd. lifted its position in SBA Communications by 0.5% in the 4th quarter. Invesco Ltd. now owns 1,815,032 shares of the technology company’s stock valued at $351,082,000 after acquiring an additional 9,656 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on SBAC shares. Barclays boosted their price objective on SBA Communications from $244.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Morgan Stanley lowered their price target on SBA Communications from $225.00 to $215.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 4th. KeyCorp raised their price objective on SBA Communications from $235.00 to $250.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Citigroup reaffirmed a “market perform” rating on shares of SBA Communications in a report on Tuesday, August 4th. Finally, Truist Financial reduced their target price on shares of SBA Communications from $248.00 to $238.00 and set a “buy” rating for the company in a research note on Wednesday, August 5th. Eight analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $228.12.

SBA Communications Stock Down 1.7%

SBA Communications stock opened at $182.11 on Tuesday. SBA Communications Corporation has a 52 week low of $162.41 and a 52 week high of $225.33. The company’s 50 day moving average price is $185.10 and its two-hundred day moving average price is $194.27. The stock has a market cap of $19.32 billion, a P/E ratio of 19.62, a P/E/G ratio of 1.85 and a beta of 0.99.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, August 3rd. The technology company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.02. The company had revenue of $715.27 million during the quarter, compared to analyst estimates of $706.01 million. SBA Communications had a negative return on equity of 20.67% and a net margin of 34.51%.SBA Communications’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the company posted $3.17 earnings per share. On average, equities analysts anticipate that SBA Communications Corporation will post 11.41 EPS for the current year.

SBA Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Thursday, August 20th will be paid a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Thursday, August 20th. SBA Communications’s dividend payout ratio is 53.88%.

About SBA Communications

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.