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

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in SBA Communications Co. (NASDAQ:SBAC) by 0.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 11,364 shares of the technology company’s stock after purchasing an additional 105 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in SBA Communications were worth $2,883,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in SBAC. Allworth Financial LP boosted its position in 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 buying an additional 45 shares during the period. Quaero Capital S.A. boosted its position in SBA Communications by 1.4% in the 4th 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. Pinnacle Bancorp Inc. lifted 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 worth $40,000 after purchasing an additional 67 shares during the last quarter. UMB Bank n.a. lifted its position in shares of SBA Communications by 12.0% during the 4th quarter. UMB Bank n.a. now owns 674 shares of the technology company’s stock worth $171,000 after purchasing an additional 72 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in shares of SBA Communications by 3.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 2,692 shares of the technology company’s stock worth $539,000 after purchasing an additional 78 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Price Performance

Shares of NASDAQ:SBAC opened at $198.30 on Wednesday. The company’s fifty day moving average price is $210.70 and its 200 day moving average price is $222.84. SBA Communications Co. has a 12 month low of $185.23 and a 12 month high of $263.08. The firm has a market capitalization of $21.44 billion, a P/E ratio of 43.02, a P/E/G ratio of 1.21 and a beta of 0.56.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results on Monday, February 26th. The technology company reported $1.01 EPS for the quarter, missing the consensus estimate of $1.37 by ($0.36). SBA Communications had a negative return on equity of 9.70% and a net margin of 18.51%. The company had revenue of $675.00 million for the quarter, compared to analyst estimates of $682.11 million. During the same quarter in the prior year, the business earned $3.11 earnings per share. SBA Communications’s revenue was down 1.6% compared to the same quarter last year. On average, sell-side analysts anticipate that SBA Communications Co. will post 12.61 EPS for the current year.

SBA Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a $0.98 dividend. The ex-dividend date was Wednesday, March 13th. This is a positive change from SBA Communications’s previous quarterly dividend of $0.85. This represents a $3.92 dividend on an annualized basis and a yield of 1.98%. SBA Communications’s payout ratio is currently 85.03%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SBAC shares. Barclays decreased their price objective on shares of SBA Communications from $260.00 to $255.00 and set an “overweight” rating for the company in a research report on Wednesday, April 17th. Bank of America raised shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price objective for the company in a research report on Thursday, March 7th. Finally, BMO Capital Markets decreased their price objective on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a research report on Tuesday, February 27th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $268.00.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, Director Mary S. Chan sold 1,977 shares of SBA Communications stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total value of $430,966.23. Following the transaction, the director now directly owns 4,622 shares in the company, valued at $1,007,549.78. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.30% of the stock is currently owned by company insiders.

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.