SBA Communications Co. (NASDAQ:SBAC) Shares Sold by First Hawaiian Bank

First Hawaiian Bank trimmed its position in SBA Communications Co. (NASDAQ:SBAC) by 11.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,821 shares of the technology company’s stock after selling 359 shares during the period. First Hawaiian Bank’s holdings in SBA Communications were worth $611,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CVA Family Office LLC acquired a new stake in shares of SBA Communications in the fourth quarter valued at $37,000. Glassman Wealth Services lifted its holdings in SBA Communications by 79.1% in the 4th quarter. Glassman Wealth Services now owns 154 shares of the technology company’s stock valued at $39,000 after acquiring an additional 68 shares during the last quarter. Pinnacle Bancorp Inc. boosted its position in shares of SBA Communications by 73.6% during the 4th quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock valued at $40,000 after purchasing an additional 67 shares in the last quarter. Allworth Financial LP grew its stake 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 worth $42,000 after purchasing an additional 45 shares during the last quarter. Finally, Quarry LP raised its holdings in shares of SBA Communications by 400.0% in the 4th quarter. Quarry LP now owns 165 shares of the technology company’s stock worth $42,000 after purchasing an additional 132 shares in the last quarter. 97.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SBAC. StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a research report on Thursday. KeyCorp cut their target price on SBA Communications from $276.00 to $227.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 30th. Royal Bank of Canada decreased their price target on SBA Communications from $250.00 to $235.00 and set an “outperform” rating for the company in a research report on Thursday, May 9th. TD Cowen cut their price objective on SBA Communications from $266.00 to $253.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Finally, Wells Fargo & Company decreased their target price on shares of SBA Communications from $260.00 to $230.00 and set an “overweight” rating for the company in a report on Tuesday, April 30th. Eleven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, SBA Communications currently has an average rating of “Buy” and an average price target of $252.17.

SBA Communications Stock Up 2.0 %

SBA Communications stock opened at $194.63 on Friday. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $258.76. The company’s fifty day simple moving average is $195.06 and its 200-day simple moving average is $215.88. The stock has a market cap of $20.91 billion, a P/E ratio of 38.16, a P/E/G ratio of 0.61 and a beta of 0.65.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, April 29th. The technology company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.21. The company had revenue of $657.86 million for the quarter, compared to analyst estimates of $671.08 million. SBA Communications had a negative return on equity of 10.75% and a net margin of 20.61%. The business’s revenue was down 2.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.13 EPS. On average, equities research analysts expect that SBA Communications Co. will post 12.52 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 19th. Shareholders of record on Thursday, May 23rd were paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend was Wednesday, May 22nd. SBA Communications’s dividend payout ratio (DPR) is presently 76.86%.

SBA Communications 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.