Hsbc Holdings PLC Has $34.70 Million Stock Position in SBA Communications Corporation $SBAC

Hsbc Holdings PLC grew its holdings in SBA Communications Corporation (NASDAQ:SBAC) by 10.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 179,229 shares of the technology company’s stock after acquiring an additional 16,265 shares during the quarter. Hsbc Holdings PLC owned 0.17% of SBA Communications worth $34,696,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Kera Capital Partners Inc. grew its position in shares of SBA Communications by 124.0% during the 4th quarter. Kera Capital Partners Inc. now owns 3,448 shares of the technology company’s stock worth $635,000 after purchasing an additional 1,909 shares in the last quarter. Invesco Ltd. increased its holdings in shares of SBA Communications by 0.5% during the fourth quarter. Invesco Ltd. now owns 1,815,032 shares of the technology company’s stock worth $351,082,000 after purchasing an additional 9,656 shares during the period. Corient Private Wealth LLC raised its position in shares of SBA Communications by 599.6% in the fourth quarter. Corient Private Wealth LLC now owns 108,001 shares of the technology company’s stock valued at $20,891,000 after buying an additional 92,564 shares in the last quarter. Alpine Woods Capital Investors LLC boosted its stake in shares of SBA Communications by 15.8% in the fourth quarter. Alpine Woods Capital Investors LLC now owns 29,648 shares of the technology company’s stock valued at $5,735,000 after buying an additional 4,046 shares during the period. Finally, Mercer Global Advisors Inc. ADV boosted its stake in shares of SBA Communications by 45.3% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 16,612 shares of the technology company’s stock valued at $3,213,000 after buying an additional 5,183 shares during the period. 97.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SBAC has been the topic of a number of analyst reports. Scotiabank increased their price target on SBA Communications from $223.00 to $230.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Barclays upped their target price on SBA Communications from $244.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Wells Fargo & Company raised their price target on SBA Communications from $195.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 7th. Royal Bank Of Canada boosted their price target on SBA Communications from $215.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, March 2nd. Finally, Sanford C. Bernstein started coverage on shares of SBA Communications in a research note on Thursday, March 5th. They set a “market perform” rating and a $218.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, SBA Communications presently has an average rating of “Moderate Buy” and an average target price of $237.22.

SBA Communications Price Performance

Shares of SBA Communications stock opened at $189.59 on Wednesday. The company’s 50 day moving average price is $207.58 and its two-hundred day moving average price is $196.39. The firm has a market capitalization of $20.11 billion, a P/E ratio of 19.96, a P/E/G ratio of 1.87 and a beta of 0.99. SBA Communications Corporation has a fifty-two week low of $162.41 and a fifty-two week high of $243.16.

SBA Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Friday, May 22nd were given a dividend of $1.25 per share. The ex-dividend date was Friday, May 22nd. This represents a $5.00 dividend on an annualized basis and a yield of 2.6%. 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.