Nordea Investment Management AB Grows Stock Holdings in SBA Communications Corporation $SBAC

Nordea Investment Management AB boosted its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 5.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,245,399 shares of the technology company’s stock after buying an additional 63,323 shares during the quarter. Nordea Investment Management AB’s holdings in SBA Communications were worth $241,234,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in SBAC. Quent Capital LLC purchased a new stake in shares of SBA Communications during the 3rd quarter worth approximately $27,000. Geneos Wealth Management Inc. increased its stake in SBA Communications by 105.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after purchasing an additional 84 shares in the last quarter. Fulcrum Asset Management LLP acquired a new position in SBA Communications during the third quarter worth $32,000. Stance Capital LLC acquired a new position in SBA Communications during the third quarter worth $45,000. Finally, SJS Investment Consulting Inc. purchased a new stake in SBA Communications during the third quarter worth $48,000. 97.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on SBAC shares. UBS Group lowered their target price on SBA Communications from $275.00 to $260.00 and set a “buy” rating on the stock in a report on Tuesday, January 20th. Scotiabank decreased their price objective on shares of SBA Communications from $233.00 to $223.00 and set a “sector perform” rating on the stock in a research report on Monday, March 2nd. Sanford C. Bernstein began 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. Weiss Ratings restated a “hold (c-)” rating on shares of SBA Communications in a report on Friday, January 9th. Finally, Wells Fargo & Company cut their target price on shares of SBA Communications from $205.00 to $195.00 and set an “equal weight” rating for the company in a research report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $232.17.

SBA Communications Stock Performance

SBA Communications stock opened at $174.15 on Monday. SBA Communications Corporation has a fifty-two week low of $173.77 and a fifty-two week high of $245.16. The company has a market capitalization of $18.56 billion, a price-to-earnings ratio of 18.27, a PEG ratio of 1.73 and a beta of 0.86. The stock has a fifty day moving average of $190.66 and a two-hundred day moving average of $192.45.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Thursday, February 26th. The technology company reported $3.47 earnings per share (EPS) for the quarter, beating 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 negative return on equity of 20.81% and a net margin of 36.40%.The business’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the business earned $3.47 earnings per share. On average, analysts forecast that SBA Communications Corporation will post 12.57 EPS for the current fiscal year.

SBA Communications Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be issued a $1.25 dividend. This is a positive change from SBA Communications’s previous quarterly dividend of $1.11. The ex-dividend date is Friday, March 13th. This represents a $5.00 dividend on an annualized basis and a yield of 2.9%. SBA Communications’s payout ratio is currently 52.47%.

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.