Intech Investment Management LLC Has $10.68 Million Position in SBA Communications Corporation $SBAC

Intech Investment Management LLC increased its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 624.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 55,235 shares of the technology company’s stock after buying an additional 47,611 shares during the quarter. Intech Investment Management LLC’s holdings in SBA Communications were worth $10,684,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Elevation Wealth Partners LLC boosted its holdings in shares of SBA Communications by 523.8% during the fourth quarter. Elevation Wealth Partners LLC now owns 131 shares of the technology company’s stock worth $25,000 after purchasing an additional 110 shares during the period. Fulcrum Asset Management LLP acquired a new stake in shares of SBA Communications during the third quarter worth approximately $32,000. Geneos Wealth Management Inc. boosted its holdings in shares of SBA Communications by 105.0% during the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after purchasing an additional 84 shares during the period. High Point Wealth Management LLC acquired a new stake in shares of SBA Communications during the fourth quarter worth approximately $39,000. Finally, Stance Capital LLC acquired a new stake in shares of SBA Communications during the third quarter worth approximately $45,000. 97.35% of the stock is currently owned by institutional investors and hedge funds.

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 report on Thursday, March 5th. They set a “market perform” rating and a $218.00 price target for the company. Morgan Stanley raised their price target on shares of SBA Communications from $215.00 to $225.00 and gave the stock an “equal weight” rating in a report on Thursday, April 9th. Wells Fargo & Company lifted their target price on shares of SBA Communications from $195.00 to $220.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 7th. Royal Bank Of Canada lifted their target price on shares of SBA Communications from $215.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, March 2nd. Finally, Truist Financial reiterated a “buy” rating and issued a $248.00 target price (up from $247.00) on shares of SBA Communications in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, SBA Communications currently has a consensus rating of “Moderate Buy” and a consensus price target of $237.22.

SBA Communications Stock Down 0.7%

NASDAQ SBAC opened at $203.16 on Friday. The stock has a market capitalization of $21.55 billion, a PE ratio of 21.39, a price-to-earnings-growth ratio of 2.04 and a beta of 1.03. The company has a 50 day moving average price of $204.11 and a two-hundred day moving average price of $196.01. SBA Communications Corporation has a 12-month low of $162.41 and a 12-month high of $243.16.

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

SBA Communications Announces Dividend

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

About SBA Communications

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.