Hsbc Holdings PLC Acquires 16,265 Shares of SBA Communications Corporation $SBAC

Hsbc Holdings PLC increased its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC) by 10.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 179,229 shares of the technology company’s stock after buying an additional 16,265 shares during the period. Hsbc Holdings PLC’s holdings in SBA Communications were worth $34,696,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in SBAC. Dodge & Cox raised its stake in shares of SBA Communications by 24.1% during the fourth quarter. Dodge & Cox now owns 11,996,134 shares of the technology company’s stock valued at $2,320,412,000 after acquiring an additional 2,328,837 shares during the last quarter. State Street Corp grew its stake in shares of SBA Communications by 3.3% in the fourth quarter. State Street Corp now owns 4,911,615 shares of the technology company’s stock worth $950,054,000 after purchasing an additional 158,738 shares during the last quarter. Geode Capital Management LLC increased its holdings in SBA Communications by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 3,085,112 shares of the technology company’s stock valued at $594,655,000 after purchasing an additional 16,153 shares during the period. Diamond Hill Capital Management Inc. increased its holdings in SBA Communications by 9.7% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 2,034,920 shares of the technology company’s stock valued at $393,615,000 after purchasing an additional 179,591 shares during the period. Finally, Invesco Ltd. raised its position in SBA Communications by 0.5% during the 4th quarter. Invesco Ltd. now owns 1,815,032 shares of the technology company’s stock worth $351,082,000 after purchasing an additional 9,656 shares during the last quarter. 97.35% of the stock is owned by institutional investors.

SBA Communications Stock Up 1.1%

Shares of SBAC stock opened at $189.59 on Wednesday. The company has a market cap of $20.11 billion, a price-to-earnings ratio of 19.96, a price-to-earnings-growth ratio of 1.87 and a beta of 0.99. SBA Communications Corporation has a 52 week low of $162.41 and a 52 week high of $243.16. The firm has a 50 day moving average of $207.58 and a 200-day moving average of $196.39.

SBA Communications Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Friday, May 22nd were paid a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, May 22nd. This represents a $5.00 annualized dividend and a yield of 2.6%. SBA Communications’s dividend payout ratio is currently 52.63%.

Analysts Set New Price Targets

Several brokerages have commented on SBAC. Truist Financial reaffirmed a “buy” rating and set a $248.00 target price (up from $247.00) on shares of SBA Communications in a report on Tuesday, May 5th. Royal Bank Of Canada increased their price target on SBA Communications from $215.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, March 2nd. Sanford C. Bernstein initiated coverage on SBA Communications in a research report on Thursday, March 5th. They set a “market perform” rating and a $218.00 price objective for the company. Scotiabank lifted their price objective on SBA Communications from $223.00 to $230.00 and gave the stock a “sector perform” rating in a research note on Friday, May 1st. Finally, Wells Fargo & Company upped their target price on SBA Communications from $195.00 to $220.00 and gave the company an “equal weight” rating in a report on Tuesday, April 7th. One 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $237.22.

SBA Communications 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.