Mirae Asset Global Investments Co. Ltd. Boosts Holdings in SBA Communications Corporation $SBAC

Mirae Asset Global Investments Co. Ltd. boosted its position in SBA Communications Corporation (NASDAQ:SBAC – Free Report) by 23.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 19,524 shares of the technology company’s stock after purchasing an additional 3,747 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in SBA Communications were worth $3,777,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Elevation Wealth Partners LLC lifted its stake in SBA Communications by 523.8% in the 4th quarter. Elevation Wealth Partners LLC now owns 131 shares of the technology company’s stock worth $25,000 after purchasing an additional 110 shares in the last quarter. Quent Capital LLC purchased a new stake in SBA Communications in the 3rd quarter worth approximately $27,000. Geneos Wealth Management Inc. lifted its stake in SBA Communications by 105.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after purchasing an additional 84 shares in the last quarter. Fulcrum Asset Management LLP bought a new position in shares of SBA Communications in the 3rd quarter worth $32,000. Finally, Stance Capital LLC bought a new position in shares of SBA Communications in the 3rd quarter worth $45,000. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Stock Performance

SBAC stock opened at $213.10 on Wednesday. SBA Communications Corporation has a 52 week low of $162.41 and a 52 week high of $245.16. The firm’s fifty day moving average is $196.02 and its 200 day moving average is $192.86. The firm has a market cap of $22.54 billion, a P/E ratio of 22.36, a P/E/G ratio of 2.19 and a beta of 0.88.

SBA Communications (NASDAQ:SBAC – Get Free Report) last released its earnings results on Thursday, February 26th. The technology company reported $3.47 EPS for the quarter, beating the consensus estimate of $3.25 by $0.22. SBA Communications had a net margin of 36.40% and a negative return on equity of 20.81%. The company had revenue of $719.58 million for the quarter, compared to analyst estimates of $725.80 million. During the same quarter last year, the firm earned $3.47 EPS. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, analysts forecast that SBA Communications Corporation will post 11.49 EPS for the current year.

SBA Communications Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, March 13th. This represents a $5.00 annualized dividend and a dividend yield of 2.3%. This is an increase from SBA Communications’s previous quarterly dividend of $1.11. SBA Communications’s payout ratio is 52.47%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Barclays increased their price target on shares of SBA Communications from $212.00 to $244.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. Scotiabank decreased their price target on shares of SBA Communications from $233.00 to $223.00 and set a “sector perform” rating on the stock in a report on Monday, March 2nd. Weiss Ratings reissued a “hold (c-)” rating on shares of SBA Communications in a report on Wednesday, April 8th. Wells Fargo & Company increased their price target on shares of SBA Communications from $195.00 to $220.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 7th. Finally, UBS Group decreased their price target on shares of SBA Communications from $275.00 to $260.00 and set a “buy” rating on the stock in a report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $233.63.

Check Out Our Latest Report on SBAC

SBA Communications Profile

(Free Report)

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.

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