Kentucky Retirement Systems Has $1.78 Million Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Kentucky Retirement Systems lowered its stake in SBA Communications Co. (NASDAQ:SBAC) by 5.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,193 shares of the technology company’s stock after selling 439 shares during the quarter. Kentucky Retirement Systems’ holdings in SBA Communications were worth $1,775,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Allworth Financial LP grew its position 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 acquiring an additional 45 shares during the period. Quaero Capital S.A. raised its stake in SBA Communications by 1.4% in the fourth quarter. Quaero Capital S.A. now owns 3,730 shares of the technology company’s stock valued at $946,000 after buying an additional 50 shares during the period. Marks Group Wealth Management Inc lifted its position in shares of SBA Communications by 4.4% in the fourth quarter. Marks Group Wealth Management Inc now owns 1,274 shares of the technology company’s stock valued at $323,000 after buying an additional 54 shares during the last quarter. Ballentine Partners LLC boosted its stake in shares of SBA Communications by 2.7% during the 1st quarter. Ballentine Partners LLC now owns 2,068 shares of the technology company’s stock worth $448,000 after acquiring an additional 55 shares during the period. Finally, Warwick Investment Management Inc. increased its holdings in shares of SBA Communications by 6.1% during the 4th quarter. Warwick Investment Management Inc. now owns 1,061 shares of the technology company’s stock worth $269,000 after acquiring an additional 61 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Trading Up 1.7 %

SBA Communications stock traded up $3.64 during trading hours on Friday, reaching $214.71. 911,889 shares of the stock were exchanged, compared to its average volume of 824,789. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $258.76. The company has a market cap of $23.07 billion, a P/E ratio of 42.10, a price-to-earnings-growth ratio of 0.69 and a beta of 0.65. The stock has a 50 day moving average of $197.54 and a two-hundred day moving average of $207.31.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, April 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.21. SBA Communications had a net margin of 20.61% and a negative return on equity of 10.75%. The business had revenue of $657.86 million for the quarter, compared to analyst estimates of $671.08 million. During the same quarter last year, the business posted $3.13 EPS. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, analysts expect that SBA Communications Co. will post 12.51 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 19th. Stockholders of record on Thursday, May 23rd were issued a dividend of $0.98 per share. The ex-dividend date was Wednesday, May 22nd. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.83%. SBA Communications’s dividend payout ratio (DPR) is currently 76.86%.

Wall Street Analysts Forecast Growth

SBAC has been the subject of a number of research analyst reports. The Goldman Sachs Group began coverage on shares of SBA Communications in a research report on Monday, July 1st. They set a “neutral” rating and a $212.00 price objective for the company. StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a research note on Friday. Wells Fargo & Company downgraded shares of SBA Communications from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $230.00 to $220.00 in a research report on Monday, July 15th. Barclays decreased their target price on SBA Communications from $241.00 to $240.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Finally, KeyCorp lowered their target price on SBA Communications from $276.00 to $227.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 30th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, SBA Communications currently has an average rating of “Moderate Buy” and an average target price of $248.31.

SBA Communications Company Profile

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.