Maryland State Retirement & Pension System Has $20.29 Million Holdings in SBA Communications Corporation $SBAC

Maryland State Retirement & Pension System raised its holdings in SBA Communications Corporation (NASDAQ:SBAC) by 2.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 104,940 shares of the technology company’s stock after acquiring an additional 2,887 shares during the period. Maryland State Retirement & Pension System’s holdings in SBA Communications were worth $20,290,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of SBAC. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in SBA Communications by 3.0% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 179,706 shares of the technology company’s stock worth $42,202,000 after purchasing an additional 5,246 shares during the last quarter. Impax Asset Management Group plc grew its stake in shares of SBA Communications by 58.2% during the second quarter. Impax Asset Management Group plc now owns 5,501 shares of the technology company’s stock worth $1,292,000 after purchasing an additional 2,023 shares during the period. Avanza Fonder AB raised its holdings in SBA Communications by 37.3% in the second quarter. Avanza Fonder AB now owns 8,784 shares of the technology company’s stock worth $2,063,000 after purchasing an additional 2,386 shares during the period. Donoghue Forlines LLC acquired a new position in shares of SBA Communications in the 2nd quarter valued at $2,824,000. Finally, Vontobel Holding Ltd. bought a new stake in shares of SBA Communications in the 2nd quarter valued at $453,000. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on SBAC. BMO Capital Markets reduced their target price on SBA Communications from $215.00 to $210.00 and set a “market perform” rating on the stock in a report on Tuesday, November 4th. Citigroup cut their price target on shares of SBA Communications from $265.00 to $235.00 and set a “buy” rating on the stock in a research note on Thursday, October 16th. Scotiabank lowered their price objective on shares of SBA Communications from $252.00 to $233.00 and set a “sector perform” rating for the company in a research report on Wednesday. Morgan Stanley dropped 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 report on Thursday, October 16th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of SBA Communications in a research note on Friday, January 9th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $233.59.

SBA Communications Stock Performance

NASDAQ:SBAC opened at $194.11 on Friday. The firm has a market cap of $20.68 billion, a price-to-earnings ratio of 25.31, a P/E/G ratio of 1.71 and a beta of 0.87. SBA Communications Corporation has a 52 week low of $179.89 and a 52 week high of $245.16. The firm’s 50-day simple moving average is $191.96 and its 200 day simple moving average is $203.29.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, November 3rd. The technology company reported $3.30 EPS for the quarter, topping the consensus estimate of $3.21 by $0.09. SBA Communications had a net margin of 29.69% and a negative return on equity of 16.60%. The company had revenue of $732.33 million for the quarter, compared to analysts’ expectations of $715.65 million. During the same period last year, the firm earned $3.32 earnings per share. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. Sell-side 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. Investors of record on Thursday, November 13th were given a dividend of $1.11 per share. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $4.44 annualized dividend and a yield of 2.3%. SBA Communications’s dividend payout ratio is currently 57.89%.

SBA Communications Company Profile

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.