SBA Communications Co. (NASDAQ:SBAC) Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lifted its holdings in SBA Communications Co. (NASDAQ:SBAC) by 5.0% in the 1st quarter, Holdings Channel.com reports. The fund owned 27,603 shares of the technology company’s stock after buying an additional 1,309 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in SBA Communications were worth $5,982,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Principal Financial Group Inc. boosted its stake in shares of SBA Communications by 54.9% in the first quarter. Principal Financial Group Inc. now owns 4,300,157 shares of the technology company’s stock valued at $931,844,000 after purchasing an additional 1,524,302 shares during the period. Brown Advisory Inc. boosted its stake in shares of SBA Communications by 7.9% in the fourth quarter. Brown Advisory Inc. now owns 2,091,103 shares of the technology company’s stock valued at $530,492,000 after purchasing an additional 153,299 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of SBA Communications by 9.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,958,156 shares of the technology company’s stock valued at $496,765,000 after purchasing an additional 166,554 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of SBA Communications by 3.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,171,945 shares of the technology company’s stock valued at $297,311,000 after purchasing an additional 38,047 shares during the period. Finally, Norges Bank purchased a new position in shares of SBA Communications in the fourth quarter valued at $286,079,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analyst Upgrades and Downgrades

SBAC has been the subject of several analyst reports. Citigroup decreased their target price on shares of SBA Communications from $290.00 to $260.00 and set a “buy” rating for the company in a research note on Tuesday, April 30th. Wells Fargo & Company reduced their price objective on shares of SBA Communications from $260.00 to $230.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 30th. Barclays reduced their price objective on shares of SBA Communications from $241.00 to $240.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Royal Bank of Canada reduced their price objective on shares of SBA Communications from $250.00 to $235.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. Finally, StockNews.com downgraded shares of SBA Communications from a “buy” rating to a “hold” rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $249.08.

SBA Communications Stock Down 0.2 %

SBAC stock opened at $195.19 on Thursday. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $258.76. The firm’s 50-day simple moving average is $194.39 and its 200 day simple moving average is $210.71. The stock has a market cap of $20.97 billion, a PE ratio of 38.27, a price-to-earnings-growth ratio of 0.62 and a beta of 0.65.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data on Monday, April 29th. The technology company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.21. SBA Communications had a net margin of 20.61% and a negative return on equity of 10.75%. The business had revenue of $657.86 million for the quarter, compared to analysts’ expectations of $671.08 million. During the same quarter last year, the company earned $3.13 EPS. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. Equities analysts forecast that SBA Communications Co. will post 12.51 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Thursday, May 23rd were paid a dividend of $0.98 per share. The ex-dividend date was Wednesday, May 22nd. This represents a $3.92 annualized dividend and a yield of 2.01%. SBA Communications’s payout ratio is 76.86%.

About SBA Communications

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.