Envestnet Portfolio Solutions Inc. Has $2.47 Million Stake in SBA Communications Corporation $SBAC

Envestnet Portfolio Solutions Inc. increased its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC) by 386.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 12,760 shares of the technology company’s stock after acquiring an additional 10,139 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in SBA Communications were worth $2,468,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. North Dakota State Investment Board acquired a new position in SBA Communications during the fourth quarter worth $712,000. iA Global Asset Management Inc. boosted its holdings in SBA Communications by 6.7% during the fourth quarter. iA Global Asset Management Inc. now owns 11,762 shares of the technology company’s stock worth $2,275,000 after purchasing an additional 742 shares during the last quarter. Canada Post Corp Registered Pension Plan boosted its holdings in SBA Communications by 70.4% during the fourth quarter. Canada Post Corp Registered Pension Plan now owns 1,380 shares of the technology company’s stock worth $267,000 after purchasing an additional 570 shares during the last quarter. DNB Asset Management AS raised its position in SBA Communications by 2.6% during the fourth quarter. DNB Asset Management AS now owns 20,291 shares of the technology company’s stock worth $3,925,000 after acquiring an additional 517 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI raised its position in SBA Communications by 19.1% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 7,832 shares of the technology company’s stock worth $1,515,000 after acquiring an additional 1,254 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on SBAC. Scotiabank upped their price target on shares of SBA Communications from $223.00 to $230.00 and gave the stock a “sector perform” rating in a research report on Friday, May 1st. Wells Fargo & Company upped their price target on shares of SBA Communications from $195.00 to $220.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 7th. Barclays upped their price target on shares of SBA Communications from $244.00 to $245.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 5th. Morgan Stanley upped their price target on shares of SBA Communications from $215.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 9th. Finally, Royal Bank Of Canada upped their price target on shares of SBA Communications from $215.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, SBA Communications currently has an average rating of “Moderate Buy” and a consensus target price of $237.22.

SBA Communications Price Performance

Shares of SBAC opened at $205.57 on Friday. The firm has a market capitalization of $21.80 billion, a PE ratio of 21.64, a PEG ratio of 2.08 and a beta of 1.03. The company’s 50-day moving average is $202.42 and its 200-day moving average is $195.74. SBA Communications Corporation has a fifty-two week low of $162.41 and a fifty-two week high of $243.16.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Thursday, February 26th. The technology company reported $3.47 earnings per share for the quarter, beating the consensus estimate of $3.25 by $0.22. The company had revenue of $719.58 million for the quarter, compared to analyst estimates of $725.80 million. SBA Communications had a net margin of 35.66% and a negative return on equity of 20.90%. The company’s revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm earned $3.47 earnings per share. Analysts predict that SBA Communications Corporation will post 11.42 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Friday, May 22nd will be given a $1.25 dividend. The ex-dividend date of this dividend is Friday, May 22nd. This represents a $5.00 annualized dividend and a dividend yield of 2.4%. SBA Communications’s dividend payout ratio is presently 52.63%.

SBA Communications Company Profile

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.