Royal London Asset Management Ltd. Has $11.37 Million Stock Position in SBA Communications Co. (NASDAQ:SBAC)

Royal London Asset Management Ltd. boosted its position in shares of SBA Communications Co. (NASDAQ:SBACFree Report) by 2.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 44,834 shares of the technology company’s stock after purchasing an additional 1,228 shares during the period. Royal London Asset Management Ltd.’s holdings in SBA Communications were worth $11,374,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SBAC. CVA Family Office LLC acquired a new stake in shares of SBA Communications in the fourth quarter valued at $37,000. Glassman Wealth Services grew its holdings in SBA Communications by 79.1% during the 4th quarter. Glassman Wealth Services now owns 154 shares of the technology company’s stock worth $39,000 after acquiring an additional 68 shares during the last quarter. Pinnacle Bancorp Inc. increased its position in SBA Communications by 73.6% in the 4th quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock valued at $40,000 after acquiring an additional 67 shares in the last quarter. Allworth Financial LP raised its stake in shares of SBA Communications by 37.8% in the fourth quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock worth $42,000 after acquiring an additional 45 shares during the last quarter. Finally, Quarry LP lifted its position in shares of SBA Communications by 400.0% during the fourth quarter. Quarry LP now owns 165 shares of the technology company’s stock worth $42,000 after purchasing an additional 132 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Stock Performance

NASDAQ SBAC traded down $1.05 during trading hours on Friday, reaching $195.96. 596,314 shares of the company’s stock were exchanged, compared to its average volume of 799,145. SBA Communications Co. has a one year low of $183.64 and a one year high of $258.76. The company’s 50-day moving average is $196.74 and its two-hundred day moving average is $217.62. The company has a market capitalization of $21.05 billion, a price-to-earnings ratio of 38.42, a price-to-earnings-growth ratio of 0.62 and a beta of 0.65.

SBA Communications (NASDAQ:SBACGet Free Report) last posted its quarterly earnings data on Monday, April 29th. The technology company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.21 by $0.21. The business had revenue of $657.86 million for the quarter, compared to analysts’ expectations of $671.08 million. SBA Communications had a net margin of 20.61% and a negative return on equity of 10.75%. The firm’s revenue was down 2.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.13 EPS. Research analysts predict that SBA Communications Co. will post 12.52 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Thursday, May 23rd will be given a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Wednesday, May 22nd. SBA Communications’s dividend payout ratio is presently 76.86%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Citigroup decreased their price objective on SBA Communications from $290.00 to $260.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. StockNews.com upgraded SBA Communications from a “hold” rating to a “buy” rating in a research report on Tuesday, June 11th. Bank of America upgraded shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 target price on the stock in a research report on Thursday, March 7th. Wells Fargo & Company lowered their price target on shares of SBA Communications from $260.00 to $230.00 and set an “overweight” rating for the company in a research report on Tuesday, April 30th. Finally, Barclays cut their price objective on shares of SBA Communications from $241.00 to $240.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Eleven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $252.17.

Read Our Latest Analysis on SBA Communications

SBA Communications Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for SBA Communications (NASDAQ:SBAC)

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