Bank of Montreal Can Boosts Holdings in SBA Communications Co. (NASDAQ:SBAC)

Bank of Montreal Can lifted its holdings in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 135.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 420,514 shares of the technology company's stock after acquiring an additional 241,916 shares during the period. Bank of Montreal Can owned 0.39% of SBA Communications worth $100,351,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new stake in shares of SBA Communications in the 3rd quarter valued at approximately $26,000. Capital Performance Advisors LLP bought a new stake in SBA Communications in the third quarter worth $35,000. Ridgewood Investments LLC purchased a new position in SBA Communications during the second quarter worth $32,000. Family Firm Inc. bought a new position in SBA Communications during the second quarter valued at $36,000. Finally, Friedenthal Financial purchased a new stake in shares of SBA Communications in the third quarter valued at $50,000. Hedge funds and other institutional investors own 97.35% of the company's stock.

SBA Communications Trading Up 0.9 %

SBAC traded up $2.14 during midday trading on Wednesday, hitting $228.73. 7,964 shares of the company were exchanged, compared to its average volume of 918,690. The company's 50 day simple moving average is $233.47 and its 200 day simple moving average is $217.86. The firm has a market capitalization of $24.59 billion, a price-to-earnings ratio of 35.74, a price-to-earnings-growth ratio of 0.76 and a beta of 0.68. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $258.76.

SBA Communications (NASDAQ:SBAC - Get Free Report) last posted its earnings results on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.77). SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The company had revenue of $667.60 million for the quarter, compared to analyst estimates of $669.29 million. During the same period last year, the business earned $3.34 earnings per share. The firm's revenue was down 2.2% on a year-over-year basis. On average, equities analysts anticipate that SBA Communications Co. will post 12.56 EPS for the current year.

SBA Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 14th will be paid a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Thursday, November 14th. SBA Communications's dividend payout ratio is currently 61.83%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. StockNews.com upgraded shares of SBA Communications from a "hold" rating to a "buy" rating in a report on Thursday, November 7th. Barclays upped their target price on SBA Communications from $236.00 to $256.00 and gave the company an "overweight" rating in a research note on Thursday, October 10th. TD Cowen boosted their price objective on SBA Communications from $251.00 to $261.00 and gave the company a "buy" rating in a report on Tuesday, October 29th. KeyCorp increased their target price on SBA Communications from $230.00 to $280.00 and gave the stock an "overweight" rating in a research note on Monday, October 14th. Finally, Royal Bank of Canada boosted their target price on shares of SBA Communications from $235.00 to $245.00 and gave the company an "outperform" rating in a research note on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, SBA Communications currently has an average rating of "Moderate Buy" and a consensus price target of $257.23.

Insider Buying and Selling

In other SBA Communications news, EVP Donald Day sold 1,500 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $242.86, for a total transaction of $364,290.00. Following the transaction, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,213,814.28. This represents a 23.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by 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.