Commerzbank Aktiengesellschaft FI Raises Stake in SBA Communications Co. (NASDAQ:SBAC)

Commerzbank Aktiengesellschaft FI raised its stake in SBA Communications Co. (NASDAQ:SBAC) by 3.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,409 shares of the technology company’s stock after buying an additional 76 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in SBA Communications were worth $612,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Allworth Financial LP lifted its stake in shares of SBA Communications by 37.8% in the 4th quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock valued at $42,000 after purchasing an additional 45 shares during the last quarter. Quaero Capital S.A. lifted its stake in shares of SBA Communications by 1.4% in the 4th quarter. Quaero Capital S.A. now owns 3,730 shares of the technology company’s stock valued at $946,000 after purchasing an additional 50 shares during the last quarter. Moody National Bank Trust Division lifted its stake in shares of SBA Communications by 5.7% in the 3rd quarter. Moody National Bank Trust Division now owns 1,157 shares of the technology company’s stock valued at $232,000 after purchasing an additional 62 shares during the last quarter. Pinnacle Bancorp Inc. lifted its stake in shares of SBA Communications by 73.6% in the 4th quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock valued at $40,000 after purchasing an additional 67 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in shares of SBA Communications by 12.0% in the 4th quarter. UMB Bank n.a. now owns 674 shares of the technology company’s stock valued at $171,000 after purchasing an additional 72 shares during the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Mary S. Chan sold 1,977 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $217.99, for a total value of $430,966.23. Following the transaction, the director now owns 4,622 shares in the company, valued at approximately $1,007,549.78. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on SBAC. Barclays decreased their price target on SBA Communications from $260.00 to $255.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 17th. BMO Capital Markets decreased their target price on SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 27th. Finally, Bank of America raised SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 target price on the stock in a research note on Thursday, March 7th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, SBA Communications presently has a consensus rating of “Buy” and a consensus price target of $268.00.

SBA Communications Price Performance

SBAC stock opened at $195.62 on Monday. The firm has a market capitalization of $21.15 billion, a P/E ratio of 42.53, a P/E/G ratio of 1.20 and a beta of 0.56. The business’s 50-day moving average is $211.29 and its two-hundred day moving average is $222.75. SBA Communications Co. has a 1 year low of $185.23 and a 1 year high of $263.08.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, February 26th. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.36). The company had revenue of $675.00 million during the quarter, compared to analyst estimates of $682.11 million. SBA Communications had a net margin of 18.51% and a negative return on equity of 9.70%. SBA Communications’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the prior year, the business earned $3.11 EPS. On average, analysts expect that SBA Communications Co. will post 12.61 EPS for the current year.

SBA Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a $0.98 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.00%. This is an increase from SBA Communications’s previous quarterly dividend of $0.85. SBA Communications’s dividend payout ratio is presently 85.03%.

About SBA Communications

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.