Korea Investment CORP Purchases 37,057 Shares of SBA Communications Corporation $SBAC

Korea Investment CORP lifted its position in SBA Communications Corporation (NASDAQ:SBAC) by 64.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 94,748 shares of the technology company’s stock after buying an additional 37,057 shares during the period. Korea Investment CORP’s holdings in SBA Communications were worth $18,320,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of SBAC. HUB Investment Partners LLC acquired a new stake in SBA Communications in the third quarter valued at approximately $260,000. Aptus Capital Advisors LLC acquired a new position in shares of SBA Communications during the third quarter worth $410,000. Barclays PLC lifted its holdings in shares of SBA Communications by 22.2% during the 3rd quarter. Barclays PLC now owns 262,057 shares of the technology company’s stock valued at $50,669,000 after purchasing an additional 47,549 shares during the last quarter. Crossmark Global Holdings Inc. boosted its position in shares of SBA Communications by 4.3% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 5,053 shares of the technology company’s stock worth $977,000 after purchasing an additional 209 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of SBA Communications by 3.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,564,790 shares of the technology company’s stock worth $302,563,000 after purchasing an additional 58,449 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.

Analyst Ratings Changes

SBAC has been the topic of several research analyst reports. Royal Bank Of Canada boosted their target price on SBA Communications from $215.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, March 2nd. Weiss Ratings reissued a “hold (c-)” rating on shares of SBA Communications in a report on Friday, January 9th. Wells Fargo & Company dropped their price target on SBA Communications from $205.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Friday, February 27th. Morgan Stanley decreased their price objective on shares of SBA Communications from $225.00 to $215.00 and set an “equal weight” rating for the company in a research report on Monday, March 2nd. Finally, UBS Group dropped their target price on shares of SBA Communications from $275.00 to $260.00 and set a “buy” rating on the stock in a research report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $232.17.

SBA Communications Stock Performance

SBA Communications stock opened at $193.70 on Wednesday. The business’s 50-day simple moving average is $191.18 and its two-hundred day simple moving average is $193.78. The company has a market cap of $20.64 billion, a PE ratio of 20.33, a PEG ratio of 1.96 and a beta of 0.86. SBA Communications Corporation has a fifty-two week low of $177.49 and a fifty-two week high of $245.16.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Thursday, February 26th. The technology company reported $3.47 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $725.80 million. During the same period last year, the business posted $3.47 earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, analysts predict that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be issued a $1.25 dividend. This is a boost from SBA Communications’s previous quarterly dividend of $1.11. The ex-dividend date is Friday, March 13th. This represents a $5.00 annualized dividend and a yield of 2.6%. SBA Communications’s dividend payout ratio is currently 46.59%.

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.