First Hawaiian Bank cut its position in SBA Communications Co. (NASDAQ:SBAC) by 11.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,795 shares of the technology company’s stock after selling 470 shares during the quarter. First Hawaiian Bank’s holdings in SBA Communications were worth $1,071,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. NuWave Investment Management LLC lifted its stake in SBA Communications by 23,157.1% in the 4th quarter. NuWave Investment Management LLC now owns 1,628 shares of the technology company’s stock worth $459,000 after purchasing an additional 1,621 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in SBA Communications by 21.1% in the 4th quarter. Louisiana State Employees Retirement System now owns 6,900 shares of the technology company’s stock worth $1,947,000 after purchasing an additional 1,200 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in SBA Communications by 121.5% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 2,727 shares of the technology company’s stock worth $868,000 after purchasing an additional 1,496 shares in the last quarter. Van ECK Associates Corp lifted its stake in SBA Communications by 18.8% in the 3rd quarter. Van ECK Associates Corp now owns 8,470 shares of the technology company’s stock worth $2,698,000 after purchasing an additional 1,338 shares in the last quarter. Finally, Brinker Capital Investments LLC purchased a new stake in SBA Communications in the 3rd quarter worth approximately $2,475,000. Institutional investors and hedge funds own 93.48% of the company’s stock.
Several analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of SBA Communications from $355.00 to $335.00 and set a “buy” rating on the stock in a research note on Tuesday, December 22nd. Raymond James lowered their price objective on shares of SBA Communications from $366.00 to $327.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 3rd. Wells Fargo & Company lowered their price objective on shares of SBA Communications from $350.00 to $325.00 and set an “overweight” rating on the stock in a research report on Thursday, December 10th. Zacks Investment Research upgraded shares of SBA Communications from a “sell” rating to a “hold” rating and set a $293.00 price objective on the stock in a research report on Tuesday, January 5th. Finally, BidaskClub cut shares of SBA Communications from a “sell” rating to a “strong sell” rating in a research report on Friday, November 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $324.75.
SBAC stock opened at $265.42 on Thursday. SBA Communications Co. has a 52 week low of $205.20 and a 52 week high of $328.37. The firm’s fifty day moving average is $277.07 and its 200 day moving average is $297.54. The firm has a market cap of $29.49 billion, a P/E ratio of -1,658.77 and a beta of 0.31.
SBA Communications (NASDAQ:SBAC) last released its earnings results on Saturday, November 7th. The technology company reported $0.20 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.19 by ($1.99). The company had revenue of $522.94 million for the quarter, compared to the consensus estimate of $516.26 million. The business’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.15 earnings per share. As a group, equities analysts predict that SBA Communications Co. will post 8.75 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, December 17th. Shareholders of record on Thursday, November 19th were issued a $0.465 dividend. This represents a $1.86 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date was Wednesday, November 18th. SBA Communications’s dividend payout ratio (DPR) is presently 21.91%.
About SBA Communications
SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America and South Africa. By ÂBuilding Better Wireless,Â SBA generates revenue from two primary businesses Â- site leasing and site development services.
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