BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 14,200 Shares of SBA Communications Co. (NASDAQ:SBAC)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. reduced its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 10.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 117,049 shares of the technology company’s stock after selling 14,200 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned about 0.11% of SBA Communications worth $25,364,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP grew its holdings in shares of 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 acquiring an additional 45 shares in the last quarter. Quaero Capital S.A. grew its holdings in shares of SBA Communications by 1.4% in the fourth quarter. Quaero Capital S.A. now owns 3,730 shares of the technology company’s stock valued at $946,000 after acquiring an additional 50 shares in the last quarter. Marks Group Wealth Management Inc grew its holdings in shares of SBA Communications by 4.4% in the fourth quarter. Marks Group Wealth Management Inc now owns 1,274 shares of the technology company’s stock valued at $323,000 after acquiring an additional 54 shares in the last quarter. Ballentine Partners LLC grew its holdings in shares of SBA Communications by 2.7% in the first quarter. Ballentine Partners LLC now owns 2,068 shares of the technology company’s stock valued at $448,000 after acquiring an additional 55 shares in the last quarter. Finally, Warwick Investment Management Inc. grew its holdings in shares of SBA Communications by 6.1% in the fourth quarter. Warwick Investment Management Inc. now owns 1,061 shares of the technology company’s stock valued at $269,000 after acquiring an additional 61 shares in the last quarter. 97.35% of the stock is owned by institutional investors.

SBA Communications Stock Down 0.5 %

Shares of SBAC stock traded down $0.98 during trading hours on Friday, hitting $210.27. 58,899 shares of the company’s stock traded hands, compared to its average volume of 941,647. The stock’s fifty day simple moving average is $196.40 and its two-hundred day simple moving average is $209.28. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $258.76. The stock has a market cap of $22.59 billion, a price-to-earnings ratio of 41.42, a PEG ratio of 0.68 and a beta of 0.65.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, April 29th. The technology company reported $1.42 EPS 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 during the quarter, compared to the consensus estimate of $671.08 million. During the same quarter in the previous year, the firm posted $3.13 EPS. The firm’s revenue was down 2.6% on a year-over-year basis. On average, equities analysts forecast that SBA Communications Co. will post 12.51 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Thursday, May 23rd were given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend was Wednesday, May 22nd. SBA Communications’s payout ratio is 76.86%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SBAC. TD Cowen reduced their price objective on SBA Communications from $266.00 to $253.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. StockNews.com upgraded SBA Communications from a “hold” rating to a “buy” rating in a research report on Wednesday. Wells Fargo & Company cut SBA Communications from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $230.00 to $220.00 in a research note on Monday. Citigroup reduced their target price on SBA Communications from $290.00 to $260.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Finally, The Goldman Sachs Group initiated coverage on SBA Communications in a research note on Monday, July 1st. They issued a “neutral” rating and a $212.00 target price on the stock. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, SBA Communications has a consensus rating of “Moderate Buy” and an average price target of $248.31.

SBA Communications 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.