Corient Capital Partners LLC Has $894,000 Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Corient Capital Partners LLC raised its stake in SBA Communications Co. (NASDAQ:SBACGet Rating) by 5.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,795 shares of the technology company’s stock after acquiring an additional 136 shares during the period. Corient Capital Partners LLC’s holdings in SBA Communications were worth $894,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SBAC. American Century Companies Inc. raised its holdings in SBA Communications by 93.3% in the 1st quarter. American Century Companies Inc. now owns 1,396,737 shares of the technology company’s stock valued at $480,617,000 after acquiring an additional 674,248 shares in the last quarter. Invesco Ltd. raised its holdings in shares of SBA Communications by 45.1% during the 1st quarter. Invesco Ltd. now owns 2,099,226 shares of the technology company’s stock worth $722,344,000 after buying an additional 652,954 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of SBA Communications by 55.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,024,359 shares of the technology company’s stock worth $327,847,000 after buying an additional 366,879 shares in the last quarter. Artemis Investment Management LLP raised its holdings in shares of SBA Communications by 476.5% during the 2nd quarter. Artemis Investment Management LLP now owns 387,368 shares of the technology company’s stock worth $124,218,000 after buying an additional 320,171 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of SBA Communications by 6.3% during the 1st quarter. State Street Corp now owns 5,150,667 shares of the technology company’s stock worth $1,772,345,000 after buying an additional 307,233 shares in the last quarter. 94.45% of the stock is owned by institutional investors and hedge funds.

SBA Communications Price Performance

Shares of SBA Communications stock opened at $297.61 on Thursday. SBA Communications Co. has a one year low of $236.20 and a one year high of $391.15. The stock’s 50-day moving average is $277.94 and its 200 day moving average is $310.29. The firm has a market cap of $32.13 billion, a price-to-earnings ratio of 80.22 and a beta of 0.46.

SBA Communications (NASDAQ:SBACGet Rating) last announced its earnings results on Monday, October 31st. The technology company reported $0.91 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.04). SBA Communications had a net margin of 16.01% and a negative return on equity of 7.57%. The business had revenue of $675.60 million for the quarter, compared to the consensus estimate of $651.42 million. During the same quarter in the previous year, the company earned $2.71 EPS. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. On average, sell-side analysts expect that SBA Communications Co. will post 11.34 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, November 17th will be given a dividend of $0.71 per share. The ex-dividend date is Wednesday, November 16th. This represents a $2.84 annualized dividend and a dividend yield of 0.95%. SBA Communications’s payout ratio is 76.55%.

Analyst Ratings Changes

SBAC has been the subject of a number of research analyst reports. Credit Suisse Group lowered their price target on SBA Communications from $408.00 to $346.00 and set an “outperform” rating for the company in a report on Tuesday, November 1st. UBS Group lowered their price target on SBA Communications to $365.00 in a report on Friday, November 4th. Barclays upped their target price on SBA Communications from $286.00 to $341.00 and gave the stock an “overweight” rating in a report on Monday, November 14th. Cowen lowered their target price on SBA Communications from $389.00 to $341.00 and set an “outperform” rating for the company in a report on Tuesday, November 1st. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on SBA Communications from $385.00 to $323.00 and set a “buy” rating for the company in a report on Friday, October 7th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $345.47.

SBA Communications Profile

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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 Building Better Wireless, SBA generates revenue from two primary businesses – site leasing and site development services.

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Institutional Ownership by Quarter for SBA Communications (NASDAQ:SBAC)

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