Industrial Alliance Investment Management Inc. Grows Holdings in SBA Communications Co. (NASDAQ:SBAC)

by · The Cerbat Gem

Industrial Alliance Investment Management Inc. raised its position in SBA Communications Co. (NASDAQ:SBAC – Free Report) by 3.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,560 shares of the technology company’s stock after buying an additional 58 shares during the period. Industrial Alliance Investment Management Inc.’s holdings in SBA Communications were worth $338,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SBAC. Glassman Wealth Services increased its stake in shares of SBA Communications by 79.1% during the fourth quarter. Glassman Wealth Services now owns 154 shares of the technology company’s stock worth $39,000 after purchasing an additional 68 shares in the last quarter. Pinnacle Bancorp Inc. increased its stake in shares of SBA Communications by 73.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock worth $40,000 after purchasing an additional 67 shares in the last quarter. Allworth Financial LP increased its stake in shares of SBA Communications by 37.8% during the fourth quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock worth $42,000 after purchasing an additional 45 shares in the last quarter. Quarry LP increased its stake 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. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in shares of SBA Communications during the fourth quarter worth about $43,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Up 0.1 %

NASDAQ:SBAC traded up $0.12 on Tuesday, hitting $217.94. The stock had a trading volume of 1,939,774 shares, compared to its average volume of 955,454. The stock has a market cap of $23.42 billion, a price-to-earnings ratio of 42.73, a PEG ratio of 0.69 and a beta of 0.65. The company has a fifty day moving average price of $198.32 and a two-hundred day moving average price of $206.76. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $258.76.

SBA Communications (NASDAQ:SBAC – Get Free Report) last posted its earnings results on Monday, July 29th. The technology company reported $1.51 earnings per share for the quarter, missing the consensus estimate of $2.07 by ($0.56). SBA Communications had a net margin of 20.61% and a negative return on equity of 10.75%. The firm had revenue of $660.50 million during the quarter, compared to analyst estimates of $665.21 million. During the same quarter in the previous year, the firm earned $3.24 earnings per share. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, analysts anticipate that SBA Communications Co. will post 12.51 earnings per share for the current year.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Thursday, August 22nd will be issued a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 1.80%. SBA Communications’s dividend payout ratio is currently 76.86%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on SBAC shares. BMO Capital Markets lowered their price target on shares of SBA Communications from $250.00 to $245.00 and set an “outperform” rating on the stock in a research report on Tuesday. StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a research report on Friday. Wells Fargo & Company lowered shares of SBA Communications from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $230.00 to $220.00 in a research report on Monday, July 15th. TD Cowen lowered their price target on shares of SBA Communications from $253.00 to $251.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Citigroup lowered their price target on shares of SBA Communications from $290.00 to $260.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. Two research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $246.54.

Check Out Our Latest Report on SBA Communications

About SBA Communications

(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.

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