SBA Communications Co. (NASDAQ:SBAC) Holdings Raised by California Public Employees Retirement System

California Public Employees Retirement System grew its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 0.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 505,819 shares of the technology company’s stock after purchasing an additional 163 shares during the period. California Public Employees Retirement System owned about 0.47% of SBA Communications worth $128,321,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Jennison Associates LLC purchased a new stake in SBA Communications in the 4th quarter worth about $983,000. Duality Advisers LP lifted its stake in SBA Communications by 389.6% in the 4th quarter. Duality Advisers LP now owns 17,414 shares of the technology company’s stock worth $4,418,000 after acquiring an additional 13,857 shares in the last quarter. Commerzbank Aktiengesellschaft FI lifted its stake in SBA Communications by 3.3% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 2,409 shares of the technology company’s stock worth $612,000 after acquiring an additional 76 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in SBA Communications by 49.0% in the 4th quarter. Handelsbanken Fonder AB now owns 45,033 shares of the technology company’s stock worth $11,424,000 after acquiring an additional 14,801 shares in the last quarter. Finally, CWM LLC lifted its stake in SBA Communications by 54.6% in the 4th quarter. CWM LLC now owns 1,622 shares of the technology company’s stock worth $411,000 after acquiring an additional 573 shares in the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at SBA Communications

In related news, Director Mary S. Chan sold 1,977 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $217.99, for a total transaction of $430,966.23. Following the completion of the sale, the director now owns 4,622 shares in the company, valued at approximately $1,007,549.78. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

SBAC has been the subject of several research analyst reports. BMO Capital Markets reduced their price objective on SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a research note on Tuesday, February 27th. Barclays dropped their target price on SBA Communications from $260.00 to $255.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 17th. 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 report on Thursday, March 7th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $268.00.

SBA Communications Stock Performance

Shares of NASDAQ SBAC opened at $198.30 on Wednesday. The firm has a market cap of $21.44 billion, a price-to-earnings ratio of 43.02, a P/E/G ratio of 1.21 and a beta of 0.56. The business’s 50-day simple moving average is $210.70 and its 200-day simple moving average is $222.84. SBA Communications Co. has a 52 week low of $185.23 and a 52 week high of $263.08.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, February 26th. The technology company reported $1.01 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.36). The company had revenue of $675.00 million for 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%. The business’s revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the company posted $3.11 EPS. As a group, equities research analysts forecast that SBA Communications Co. will post 12.61 earnings per share for the current year.

SBA Communications Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a dividend of $0.98 per share. This is an increase from SBA Communications’s previous quarterly dividend of $0.85. The ex-dividend date was Wednesday, March 13th. This represents a $3.92 annualized dividend and a yield of 1.98%. 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.