Handelsbanken Fonder AB Has $11.22 Million Holdings in SBA Communications Corporation $SBAC

Handelsbanken Fonder AB lessened its stake in SBA Communications Corporation (NASDAQ:SBAC) by 14.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 57,992 shares of the technology company’s stock after selling 10,055 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.05% of SBA Communications worth $11,217,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Elevation Wealth Partners LLC boosted its holdings in shares of SBA Communications by 523.8% in the 4th quarter. Elevation Wealth Partners LLC now owns 131 shares of the technology company’s stock valued at $25,000 after buying an additional 110 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in SBA Communications by 105.0% during the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after purchasing an additional 84 shares during the period. Fulcrum Asset Management LLP bought a new position in SBA Communications during the third quarter worth about $32,000. High Point Wealth Management LLC bought a new position in SBA Communications during the fourth quarter worth about $39,000. Finally, Stance Capital LLC bought a new position in SBA Communications during the third quarter worth about $45,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Wall Street Analyst Weigh In

SBAC has been the subject of a number of research analyst reports. Barclays lifted their price target on SBA Communications from $244.00 to $245.00 and gave the stock an “overweight” rating in a report on Tuesday, May 5th. Royal Bank Of Canada lifted their price target on SBA Communications from $215.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, March 2nd. Sanford C. Bernstein initiated coverage on SBA Communications in a report on Thursday, March 5th. They set a “market perform” rating and a $218.00 price target for the company. Weiss Ratings upgraded SBA Communications from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, April 22nd. Finally, Scotiabank lifted their price target on SBA Communications from $223.00 to $230.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $237.22.

SBA Communications Stock Up 0.2%

Shares of NASDAQ:SBAC opened at $208.07 on Friday. SBA Communications Corporation has a 12-month low of $162.41 and a 12-month high of $243.16. The stock has a market cap of $22.07 billion, a PE ratio of 21.90, a P/E/G ratio of 2.07 and a beta of 1.03. The business has a 50 day moving average of $202.08 and a 200-day moving average of $195.67.

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, topping analysts’ consensus estimates of $3.25 by $0.22. SBA Communications had a negative return on equity of 20.90% and a net margin of 35.66%.The company had revenue of $719.58 million during the quarter, compared to analysts’ expectations of $725.80 million. During the same quarter in the previous year, the company posted $3.47 earnings per share. The business’s revenue was up 3.7% on a year-over-year basis. Equities research analysts expect that SBA Communications Corporation will post 11.42 earnings per share for the current year.

SBA Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Friday, May 22nd will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, May 22nd. SBA Communications’s payout ratio is currently 52.63%.

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.