Hsbc Holdings PLC Lowers Stock Position in SBA Communications Corporation $SBAC

Hsbc Holdings PLC cut its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 1.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 176,106 shares of the technology company’s stock after selling 3,123 shares during the quarter. Hsbc Holdings PLC owned 0.17% of SBA Communications worth $30,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Dodge & Cox increased its holdings in shares of SBA Communications by 24.1% in the 4th quarter. Dodge & Cox now owns 11,996,134 shares of the technology company’s stock worth $2,320,412,000 after buying an additional 2,328,837 shares during the last quarter. Norges Bank bought a new stake in shares of SBA Communications during the 4th quarter worth $302,774,000. Arrowstreet Capital Limited Partnership grew its position in SBA Communications by 256.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,092,612 shares of the technology company’s stock worth $211,344,000 after acquiring an additional 785,850 shares in the last quarter. Millennium Management LLC grew its position in SBA Communications by 171.8% in the fourth quarter. Millennium Management LLC now owns 811,543 shares of the technology company’s stock worth $156,977,000 after acquiring an additional 513,002 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in SBA Communications by 170.6% in the first quarter. SG Americas Securities LLC now owns 469,911 shares of the technology company’s stock worth $80,876,000 after acquiring an additional 296,231 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Price Performance

Shares of SBAC stock opened at $176.82 on Wednesday. The stock has a market capitalization of $18.75 billion, a PE ratio of 18.61, a P/E/G ratio of 1.82 and a beta of 1.00. SBA Communications Corporation has a 1-year low of $162.41 and a 1-year high of $243.16. The business has a 50-day moving average of $193.77 and a 200 day moving average of $195.23.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Friday, May 22nd were given a $1.25 dividend. The ex-dividend date was Friday, May 22nd. This represents a $5.00 annualized dividend and a yield of 2.8%. SBA Communications’s payout ratio is presently 52.63%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Barclays raised their price target on SBA Communications from $244.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Scotiabank upped their price objective on SBA Communications from $223.00 to $230.00 and gave the stock a “sector perform” rating in a report on Friday, May 1st. The Goldman Sachs Group started coverage on SBA Communications in a report on Friday, June 26th. They issued a “neutral” rating and a $205.00 price objective for the company. Morgan Stanley increased their price objective on SBA Communications from $215.00 to $225.00 and gave the company an “equal weight” rating in a research report on Thursday, April 9th. Finally, Wells Fargo & Company raised SBA Communications from an “equal weight” rating to an “overweight” rating and decreased their price objective for the company from $220.00 to $210.00 in a report on Friday. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $235.28.

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.