Munro Partners Takes $2.19 Million Position in SBA Communications Corporation $SBAC

Munro Partners bought a new stake in SBA Communications Corporation (NASDAQ:SBAC) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 9,305 shares of the technology company’s stock, valued at approximately $2,185,000.

Several other large investors have also recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new stake in SBA Communications in the 1st quarter valued at approximately $230,000. Public Sector Pension Investment Board lifted its holdings in SBA Communications by 3.3% in the first quarter. Public Sector Pension Investment Board now owns 28,806 shares of the technology company’s stock valued at $6,338,000 after acquiring an additional 907 shares during the period. Resona Asset Management Co. Ltd. lifted its holdings in SBA Communications by 1.0% in the first quarter. Resona Asset Management Co. Ltd. now owns 18,025 shares of the technology company’s stock valued at $3,949,000 after acquiring an additional 184 shares during the period. National Pension Service grew its stake in shares of SBA Communications by 14.3% during the 1st quarter. National Pension Service now owns 179,840 shares of the technology company’s stock worth $39,567,000 after purchasing an additional 22,462 shares during the period. Finally, Fox Run Management L.L.C. purchased a new position in shares of SBA Communications in the 1st quarter valued at about $754,000. 97.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SBAC. Cowen restated a “buy” rating on shares of SBA Communications in a research report on Tuesday, November 4th. Williams Trading set a $237.00 price objective on SBA Communications in a research note on Tuesday, November 4th. Royal Bank Of Canada decreased their target price on SBA Communications from $235.00 to $232.00 and set an “outperform” rating on the stock in a research report on Monday, November 10th. Bank of America downgraded SBA Communications from a “buy” rating to a “neutral” rating and cut their price target for the stock from $260.00 to $230.00 in a research note on Wednesday, August 27th. Finally, Morgan Stanley decreased their price objective on shares of SBA Communications from $260.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 16th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $237.63.

SBA Communications Stock Down 0.6%

NASDAQ SBAC opened at $191.66 on Friday. The stock has a market cap of $20.42 billion, a price-to-earnings ratio of 24.99, a price-to-earnings-growth ratio of 1.66 and a beta of 0.87. SBA Communications Corporation has a fifty-two week low of $185.13 and a fifty-two week high of $245.16. The business has a fifty day moving average of $193.60 and a 200-day moving average of $210.26.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings data on Monday, November 3rd. The technology company reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $3.21 by $0.09. SBA Communications had a negative return on equity of 16.60% and a net margin of 29.69%.The firm had revenue of $732.33 million during the quarter, compared to analysts’ expectations of $715.65 million. During the same quarter last year, the business posted $3.32 EPS. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, analysts anticipate that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Thursday, November 13th were given a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Thursday, November 13th. SBA Communications’s payout ratio is currently 57.89%.

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.