SBA Communications Corporation $SBAC Shares Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS raised its holdings in SBA Communications Corporation (NASDAQ:SBAC) by 10.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,896 shares of the technology company’s stock after purchasing an additional 4,100 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in SBA Communications were worth $8,101,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SBAC. Norges Bank acquired a new stake in shares of SBA Communications during the 2nd quarter worth about $351,084,000. Mitsubishi UFJ Trust & Banking Corp boosted its stake in SBA Communications by 799.8% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 571,308 shares of the technology company’s stock worth $134,166,000 after buying an additional 507,815 shares during the period. 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 acquiring an additional 485,656 shares during the last quarter. Nomura Holdings Inc. raised its stake in shares of SBA Communications by 1,175.4% in the 2nd quarter. Nomura Holdings Inc. now owns 341,673 shares of the technology company’s stock valued at $80,238,000 after acquiring an additional 314,883 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of SBA Communications by 19.8% in the 2nd quarter. Invesco Ltd. now owns 1,573,538 shares of the technology company’s stock worth $369,530,000 after acquiring an additional 259,876 shares during the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Morgan Stanley cut their target price on SBA Communications from $260.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 16th. The Goldman Sachs Group dropped their price objective on SBA Communications from $250.00 to $220.00 and set a “neutral” rating for the company in a research note on Wednesday, October 1st. Williams Trading set a $237.00 target price on SBA Communications in a research note on Tuesday, November 4th. BMO Capital Markets dropped their target price on SBA Communications from $215.00 to $210.00 and set a “market perform” rating for the company in a research report on Tuesday, November 4th. Finally, Royal Bank Of Canada dropped their target price on SBA Communications from $235.00 to $232.00 and set an “outperform” rating for the company in a research report on Monday, November 10th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $237.00.

SBA Communications Trading Down 0.1%

Shares of NASDAQ SBAC opened at $181.20 on Friday. The stock has a market cap of $19.31 billion, a P/E ratio of 23.62, a PEG ratio of 1.58 and a beta of 0.87. The business’s fifty day simple moving average is $192.49 and its 200-day simple moving average is $205.03. SBA Communications Corporation has a 12-month low of $179.89 and a 12-month high of $245.16.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, November 3rd. The technology company reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.21 by $0.09. The company had revenue of $732.33 million for the quarter, compared to the consensus estimate of $715.65 million. SBA Communications had a negative return on equity of 16.60% and a net margin of 29.69%.SBA Communications’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.32 EPS. On average, equities analysts forecast that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Thursday, November 13th were given a $1.11 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.5%. SBA Communications’s dividend payout ratio is currently 57.89%.

SBA Communications 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.