SBA Communications Corporation $SBAC Shares Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB lifted its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 11.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 65,341 shares of the technology company’s stock after buying an additional 6,524 shares during the quarter. Handelsbanken Fonder AB owned about 0.06% of SBA Communications worth $11,530,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Dodge & Cox raised its stake in SBA Communications by 24.1% during the 4th quarter. Dodge & Cox now owns 11,996,134 shares of the technology company’s stock worth $2,320,412,000 after acquiring an additional 2,328,837 shares in the last quarter. Norges Bank acquired a new position in SBA Communications in the fourth quarter valued at $302,774,000. Arrowstreet Capital Limited Partnership boosted its stake 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 valued at $211,344,000 after acquiring an additional 785,850 shares in the last quarter. Millennium Management LLC grew its holdings in shares of SBA Communications by 171.8% during the fourth quarter. Millennium Management LLC now owns 811,543 shares of the technology company’s stock worth $156,977,000 after purchasing an additional 513,002 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of SBA Communications by 170.6% during the first quarter. SG Americas Securities LLC now owns 469,911 shares of the technology company’s stock worth $80,876,000 after purchasing an additional 296,231 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Stock Performance

Shares of NASDAQ:SBAC opened at $186.19 on Friday. SBA Communications Corporation has a one year low of $162.41 and a one year high of $225.33. The stock has a market capitalization of $19.75 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 1.83 and a beta of 0.99. The company has a 50-day simple moving average of $185.92 and a 200-day simple moving average of $194.32.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, August 3rd. The technology company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.02. SBA Communications had a negative return on equity of 20.67% and a net margin of 34.51%.The firm had revenue of $715.27 million for the quarter, compared to analysts’ expectations of $706.01 million. During the same quarter in the previous year, the firm posted $3.17 EPS. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, research analysts forecast that SBA Communications Corporation will post 11.41 EPS for the current fiscal year.

SBA Communications Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Thursday, August 20th will be given a dividend of $1.25 per share. The ex-dividend date is Thursday, August 20th. This represents a $5.00 dividend on an annualized basis and a yield of 2.7%. SBA Communications’s payout ratio is presently 53.88%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on SBAC shares. Morgan Stanley reduced their target price on SBA Communications from $225.00 to $215.00 and set an “equal weight” rating for the company in a report on Tuesday, August 4th. Scotiabank raised their price target on SBA Communications from $223.00 to $230.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. Barclays lifted their price target on SBA Communications from $244.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Wolfe Research upgraded SBA Communications from a “hold” rating to an “outperform” rating in a research note on Tuesday, August 4th. Finally, Royal Bank Of Canada decreased their price objective on SBA Communications from $245.00 to $210.00 and set an “outperform” rating for the company in a report on Friday, July 10th. Eight research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $228.12.

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.