Saudi Central Bank Has $1.31 Million Stake in SBA Communications Corporation $SBAC

Saudi Central Bank grew its position in SBA Communications Corporation (NASDAQ:SBAC) by 88.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,405 shares of the technology company’s stock after acquiring an additional 3,472 shares during the period. Saudi Central Bank’s holdings in SBA Communications were worth $1,307,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. J. Safra Sarasin Holding AG increased its stake in shares of SBA Communications by 4.0% in the first quarter. J. Safra Sarasin Holding AG now owns 1,596 shares of the technology company’s stock valued at $275,000 after buying an additional 62 shares in the last quarter. CX Institutional lifted its holdings in SBA Communications by 44.2% in the second quarter. CX Institutional now owns 212 shares of the technology company’s stock valued at $37,000 after buying an additional 65 shares during the period. Norinchukin Bank The boosted its position in shares of SBA Communications by 1.1% in the 3rd quarter. Norinchukin Bank The now owns 6,037 shares of the technology company’s stock worth $1,167,000 after purchasing an additional 68 shares during the last quarter. GAMMA Investing LLC boosted its holdings in SBA Communications by 5.7% during the second quarter. GAMMA Investing LLC now owns 1,289 shares of the technology company’s stock worth $227,000 after buying an additional 70 shares during the last quarter. Finally, Larson Financial Group LLC boosted its stake in SBA Communications by 47.6% during the 4th quarter. Larson Financial Group LLC now owns 248 shares of the technology company’s stock worth $48,000 after acquiring an additional 80 shares during the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director George R. Krouse, Jr. sold 300 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $182.67, for a total transaction of $54,801.00. Following the sale, the director owned 8,512 shares in the company, valued at approximately $1,554,887.04. This represents a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 9.50% of the company’s stock.

SBA Communications Stock Performance

Shares of SBA Communications stock opened at $188.69 on Wednesday. The business’s 50 day simple moving average is $183.64 and its 200 day simple moving average is $193.97. SBA Communications Corporation has a 52-week low of $162.41 and a 52-week high of $224.46. The firm has a market cap of $20.02 billion, a PE ratio of 20.33, a P/E/G ratio of 1.89 and a beta of 0.99.

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

SBA Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Thursday, August 20th will be issued a $1.25 dividend. The ex-dividend date is Thursday, August 20th. This represents a $5.00 annualized dividend and a dividend yield of 2.6%. SBA Communications’s dividend payout ratio (DPR) is presently 53.88%.

Wall Street Analyst Weigh In

Several research firms have weighed in on SBAC. Citigroup reiterated a “market perform” rating on shares of SBA Communications in a report on Tuesday, August 4th. BMO Capital Markets reaffirmed a “market perform” rating on shares of SBA Communications in a research report on Monday, August 24th. Wells Fargo & Company raised SBA Communications from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $220.00 to $210.00 in a research report on Friday, July 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of SBA Communications in a report on Monday, July 20th. Finally, The Goldman Sachs Group began coverage on SBA Communications in a research report on Friday, June 26th. They issued a “neutral” rating and a $205.00 price objective for the company. Seven research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $225.53.

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.