SBA Communications Co. (NASDAQ:SBAC) Shares Bought by Industrial Alliance Investment Management Inc.

Industrial Alliance Investment Management Inc. boosted its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 3.9% in the first quarter, HoldingsChannel.com reports. The fund owned 1,560 shares of the technology company’s stock after buying an additional 58 shares during the quarter. Industrial Alliance Investment Management Inc.’s holdings in SBA Communications were worth $338,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SBAC. Principal Financial Group Inc. raised its position in SBA Communications by 54.9% during the first quarter. Principal Financial Group Inc. now owns 4,300,157 shares of the technology company’s stock worth $931,844,000 after acquiring an additional 1,524,302 shares during the last quarter. Norges Bank acquired a new position in shares of SBA Communications in the fourth quarter valued at approximately $286,079,000. The Manufacturers Life Insurance Company raised its position in shares of SBA Communications by 111.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 734,795 shares of the technology company’s stock valued at $186,410,000 after buying an additional 387,855 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of SBA Communications by 144.7% in the first quarter. BNP Paribas Financial Markets now owns 359,736 shares of the technology company’s stock valued at $77,955,000 after buying an additional 212,739 shares during the last quarter. Finally, Westfield Capital Management Co. LP acquired a new position in shares of SBA Communications in the fourth quarter valued at approximately $53,679,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Wall Street Analysts Forecast Growth

SBAC has been the subject of a number of analyst reports. Wells Fargo & Company lowered shares of SBA Communications from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $230.00 to $220.00 in a research report on Monday, July 15th. KeyCorp boosted their price objective on shares of SBA Communications from $227.00 to $230.00 and gave the company an “overweight” rating in a research report on Tuesday. Royal Bank of Canada cut their price objective on shares of SBA Communications from $250.00 to $235.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. BMO Capital Markets dropped their price target on shares of SBA Communications from $250.00 to $245.00 and set an “outperform” rating for the company in a research report on Tuesday. Finally, TD Cowen dropped their price target on shares of SBA Communications from $253.00 to $251.00 and set a “buy” rating for the company in a research report on Tuesday. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, SBA Communications has an average rating of “Moderate Buy” and a consensus price target of $246.54.

SBA Communications Trading Up 0.1 %

SBAC traded up $0.12 during trading on Tuesday, hitting $217.94. 1,939,774 shares of the company’s stock were exchanged, compared to its average volume of 955,454. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $258.76. The stock has a 50 day moving average price of $198.32 and a 200 day moving average price of $206.76. The firm has a market cap of $23.42 billion, a P/E ratio of 42.73, a price-to-earnings-growth ratio of 0.69 and a beta of 0.65.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, July 29th. The technology company reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.07 by ($0.56). SBA Communications had a negative return on equity of 10.75% and a net margin of 20.61%. The business had revenue of $660.50 million for the quarter, compared to analysts’ expectations of $665.21 million. During the same quarter in the prior year, the firm earned $3.24 earnings per share. SBA Communications’s quarterly revenue was down 2.7% compared to the same quarter last year. Analysts forecast that SBA Communications Co. will post 12.51 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Thursday, August 22nd will be paid a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 1.80%. SBA Communications’s dividend payout ratio (DPR) is presently 76.86%.

SBA Communications Company Profile

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.