SBA Communications Co. (NASDAQ:SBAC) Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of SBA Communications Co. (NASDAQ:SBACGet Rating) by 7.1% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 8,757 shares of the technology company’s stock after acquiring an additional 583 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in SBA Communications were worth $2,803,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Schroder Investment Management Group lifted its holdings in SBA Communications by 11.0% during the fourth quarter. Schroder Investment Management Group now owns 98,835 shares of the technology company’s stock valued at $38,448,000 after purchasing an additional 9,763 shares in the last quarter. Williams Jones Wealth Management LLC. purchased a new position in SBA Communications during the fourth quarter valued at $220,000. Gotham Asset Management LLC lifted its holdings in SBA Communications by 31.4% during the fourth quarter. Gotham Asset Management LLC now owns 3,861 shares of the technology company’s stock valued at $1,502,000 after purchasing an additional 923 shares in the last quarter. Rockefeller Capital Management L.P. lifted its holdings in SBA Communications by 8.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 5,776 shares of the technology company’s stock valued at $2,246,000 after purchasing an additional 463 shares in the last quarter. Finally, Wolverine Trading LLC lifted its holdings in SBA Communications by 78.6% during the fourth quarter. Wolverine Trading LLC now owns 7,483 shares of the technology company’s stock valued at $2,908,000 after purchasing an additional 3,293 shares in the last quarter. Institutional investors and hedge funds own 94.45% of the company’s stock.

SBA Communications Stock Performance

Shares of SBAC stock opened at $295.29 on Friday. The stock has a market capitalization of $31.84 billion, a P/E ratio of 91.42 and a beta of 0.44. The company has a 50 day moving average price of $329.00 and a 200 day moving average price of $332.16. SBA Communications Co. has a fifty-two week low of $286.41 and a fifty-two week high of $391.15.

SBA Communications (NASDAQ:SBACGet Rating) last issued its quarterly earnings results on Monday, August 1st. The technology company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.26). SBA Communications had a negative return on equity of 6.73% and a net margin of 14.45%. The firm had revenue of $652.01 million during the quarter, compared to analysts’ expectations of $626.30 million. During the same quarter in the prior year, the firm earned $2.64 EPS. The firm’s revenue was up 13.3% compared to the same quarter last year. On average, research analysts forecast that SBA Communications Co. will post 11.23 EPS for the current fiscal year.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 20th. Stockholders of record on Thursday, August 25th were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $2.84 annualized dividend and a dividend yield of 0.96%. SBA Communications’s dividend payout ratio is presently 87.93%.

Analysts Set New Price Targets

SBAC has been the topic of several recent analyst reports. Credit Suisse Group increased their price objective on shares of SBA Communications from $405.00 to $408.00 and gave the company an “outperform” rating in a report on Tuesday, August 2nd. Morgan Stanley raised their price target on shares of SBA Communications from $361.00 to $366.00 and gave the stock an “overweight” rating in a research note on Friday, September 16th. Barclays decreased their price target on shares of SBA Communications from $385.00 to $380.00 and set an “overweight” rating on the stock in a research note on Friday, August 26th. The Goldman Sachs Group decreased their price target on shares of SBA Communications from $424.00 to $381.00 and set a “buy” rating on the stock in a research note on Tuesday, July 12th. Finally, Jefferies Financial Group decreased their price target on shares of SBA Communications from $383.00 to $347.00 and set a “hold” rating on the stock in a research note on Thursday, June 30th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, SBA Communications presently has a consensus rating of “Moderate Buy” and a consensus target price of $384.67.

Insider Transactions at SBA Communications

In other news, Director Duncan Cocroft sold 1,152 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $344.50, for a total transaction of $396,864.00. Following the completion of the sale, the director now owns 64,592 shares in the company, valued at approximately $22,251,944. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Duncan Cocroft sold 1,152 shares of the company’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $344.50, for a total value of $396,864.00. Following the completion of the sale, the director now owns 64,592 shares in the company, valued at approximately $22,251,944. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark R. Ciarfella sold 5,760 shares of the company’s stock in a transaction on Friday, August 5th. The shares were sold at an average price of $343.94, for a total transaction of $1,981,094.40. Following the completion of the sale, the executive vice president now owns 23,884 shares of the company’s stock, valued at approximately $8,214,662.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,152 shares of company stock worth $18,852,602. 1.80% of the stock is currently owned by insiders.

SBA Communications Profile

(Get Rating)

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America and South Africa. By Building Better Wireless, SBA generates revenue from two primary businesses – site leasing and site development services.

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Institutional Ownership by Quarter for SBA Communications (NASDAQ:SBAC)

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