Thrivent Financial for Lutherans Sells 39,505 Shares of SBA Communications Corporation $SBAC

Thrivent Financial for Lutherans reduced its stake in SBA Communications Corporation (NASDAQ:SBAC) by 9.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 372,135 shares of the technology company’s stock after selling 39,505 shares during the quarter. Thrivent Financial for Lutherans owned about 0.35% of SBA Communications worth $71,982,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of SBA Communications by 2.3% during the 3rd quarter. Vanguard Group Inc. now owns 18,163,536 shares of the technology company’s stock worth $3,511,920,000 after purchasing an additional 403,285 shares in the last quarter. Dodge & Cox grew its position in shares of SBA Communications by 12.3% during the 3rd quarter. Dodge & Cox now owns 9,667,297 shares of the technology company’s stock worth $1,869,172,000 after purchasing an additional 1,058,803 shares in the last quarter. State Street Corp grew its position in shares of SBA Communications by 3.0% during the 3rd quarter. State Street Corp now owns 4,752,877 shares of the technology company’s stock worth $918,969,000 after purchasing an additional 139,696 shares in the last quarter. Diamond Hill Capital Management Inc. grew its position in shares of SBA Communications by 24.6% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 1,855,329 shares of the technology company’s stock worth $358,728,000 after purchasing an additional 366,491 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of SBA Communications by 14.7% during the 3rd quarter. Invesco Ltd. now owns 1,805,376 shares of the technology company’s stock worth $349,069,000 after purchasing an additional 231,838 shares in the last quarter. 97.35% of the stock is owned by institutional investors.

SBA Communications Trading Down 0.8%

NASDAQ SBAC opened at $199.62 on Friday. The firm has a market capitalization of $21.17 billion, a price-to-earnings ratio of 21.01, a P/E/G ratio of 2.01 and a beta of 1.03. The firm’s 50 day simple moving average is $201.18 and its 200 day simple moving average is $195.26. SBA Communications Corporation has a 1 year low of $162.41 and a 1 year high of $243.16.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Thursday, February 26th. The technology company reported $3.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.25 by $0.22. The business had revenue of $719.58 million for the quarter, compared to analyst estimates of $725.80 million. SBA Communications had a net margin of 35.66% and a negative return on equity of 20.90%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the business posted $3.47 EPS. On average, equities research analysts forecast that SBA Communications Corporation will post 11.42 earnings per share for the current year.

SBA Communications Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Friday, May 22nd will be given a $1.25 dividend. The ex-dividend date is Friday, May 22nd. This represents a $5.00 dividend on an annualized basis and a yield of 2.5%. SBA Communications’s dividend payout ratio (DPR) is currently 52.63%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Truist Financial restated a “buy” rating and set a $248.00 target price (up from $247.00) on shares of SBA Communications in a research report on Tuesday, May 5th. Sanford C. Bernstein assumed coverage on shares of SBA Communications in a research report on Thursday, March 5th. They set a “market perform” rating and a $218.00 target price on the stock. Barclays increased their target price on shares of SBA Communications from $244.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Royal Bank Of Canada increased their target price on shares of SBA Communications from $215.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, March 2nd. Finally, Weiss Ratings upgraded shares of SBA Communications from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $237.74.

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.