SBA Communications Corporation $SBAC Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC grew its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC) by 624.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,235 shares of the technology company’s stock after purchasing an additional 47,611 shares during the period. Intech Investment Management LLC owned approximately 0.05% of SBA Communications worth $10,684,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Baker Avenue Asset Management LP boosted its position in shares of SBA Communications by 86.0% during the 4th quarter. Baker Avenue Asset Management LP now owns 2,243 shares of the technology company’s stock valued at $434,000 after purchasing an additional 1,037 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of SBA Communications by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 3,085,112 shares of the technology company’s stock valued at $594,655,000 after purchasing an additional 16,153 shares in the last quarter. Employees Retirement System of Texas boosted its position in shares of SBA Communications by 235.6% during the 4th quarter. Employees Retirement System of Texas now owns 1,141 shares of the technology company’s stock valued at $221,000 after purchasing an additional 801 shares in the last quarter. AlphaQuest LLC boosted its position in shares of SBA Communications by 45.4% during the 4th quarter. AlphaQuest LLC now owns 14,984 shares of the technology company’s stock valued at $2,898,000 after purchasing an additional 4,681 shares in the last quarter. Finally, Allstate Corp boosted its position in shares of SBA Communications by 95.1% during the 4th quarter. Allstate Corp now owns 7,821 shares of the technology company’s stock valued at $1,513,000 after purchasing an additional 3,813 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.

Analyst Upgrades and Downgrades

SBAC has been the subject of several research reports. Sanford C. Bernstein initiated coverage on shares of SBA Communications in a research report on Thursday, March 5th. They set a “market perform” rating and a $218.00 price objective for the company. KeyCorp raised their price objective on shares of SBA Communications from $235.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. 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. Royal Bank Of Canada raised their price objective on shares of SBA Communications from $215.00 to $220.00 and gave the company an “outperform” rating in a research report on Monday, March 2nd. Finally, Barclays raised their price objective on shares of SBA Communications from $244.00 to $245.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $237.22.

SBA Communications Price Performance

Shares of SBAC opened at $203.16 on Friday. SBA Communications Corporation has a one year low of $162.41 and a one year high of $243.16. The company has a 50-day moving average of $204.11 and a two-hundred day moving average of $196.01. The stock has a market cap of $21.55 billion, a price-to-earnings ratio of 21.39, a PEG ratio of 2.04 and a beta of 1.03.

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

SBA Communications Announces Dividend

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

SBA Communications Company Profile

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.