SBA Communications Co. (NASDAQ:SBAC) Shares Acquired by Partners Group Holding AG

Partners Group Holding AG lifted its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 16.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 103,796 shares of the technology company’s stock after buying an additional 14,781 shares during the quarter. SBA Communications makes up approximately 3.2% of Partners Group Holding AG’s investment portfolio, making the stock its 13th largest position. Partners Group Holding AG’s holdings in SBA Communications were worth $26,332,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. CVA Family Office LLC acquired a new stake in SBA Communications in the fourth quarter valued at about $37,000. Glassman Wealth Services lifted its position in SBA Communications by 79.1% in the fourth quarter. Glassman Wealth Services now owns 154 shares of the technology company’s stock valued at $39,000 after purchasing an additional 68 shares during the period. Pinnacle Bancorp Inc. lifted its position in SBA Communications by 73.6% in the fourth quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock valued at $40,000 after purchasing an additional 67 shares during the period. Allworth Financial LP lifted its position in SBA Communications by 37.8% in the fourth quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock valued at $42,000 after purchasing an additional 45 shares during the period. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in shares of SBA Communications during the 4th quarter valued at approximately $43,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Wall Street Analyst Weigh In

SBAC has been the subject of a number of research reports. StockNews.com downgraded shares of SBA Communications from a “buy” rating to a “hold” rating in a research report on Friday, May 31st. TD Cowen reduced their price target on shares of SBA Communications from $266.00 to $253.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. Royal Bank of Canada reduced their price target on shares of SBA Communications from $250.00 to $235.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. KeyCorp reduced their price target on shares of SBA Communications from $276.00 to $227.00 and set an “overweight” rating for the company in a research report on Tuesday, April 30th. Finally, Citigroup reduced their price target on shares of SBA Communications from $290.00 to $260.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, SBA Communications currently has an average rating of “Buy” and an average target price of $252.17.

SBA Communications Price Performance

SBAC stock traded down $1.98 during midday trading on Friday, hitting $193.39. The stock had a trading volume of 785,997 shares, compared to its average volume of 783,943. The firm has a market cap of $20.78 billion, a PE ratio of 37.92, a price-to-earnings-growth ratio of 0.61 and a beta of 0.65. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $258.76. The company’s 50-day moving average price is $198.61 and its 200 day moving average price is $219.07.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, April 29th. The technology company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.21 by $0.21. The firm had revenue of $657.86 million during 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%. SBA Communications’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period in the previous year, the company earned $3.13 EPS. As a group, sell-side analysts anticipate that SBA Communications Co. will post 12.53 EPS for the current year.

SBA Communications Announces Dividend

The business 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. The ex-dividend date is Wednesday, May 22nd. This represents a $3.92 annualized dividend and a dividend yield of 2.03%. SBA Communications’s dividend payout ratio is presently 76.86%.

SBA Communications Company Profile

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.