Barclays PLC Has $158.39 Million Stock Position in SBA Communications Co. (NASDAQ:SBAC)

Barclays PLC grew its position in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 71.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 658,029 shares of the technology company's stock after purchasing an additional 273,237 shares during the quarter. Barclays PLC owned approximately 0.61% of SBA Communications worth $158,386,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of SBAC. Ashton Thomas Securities LLC bought a new position in shares of SBA Communications during the 3rd quarter worth about $26,000. Ridgewood Investments LLC acquired a new stake in shares of SBA Communications in the second quarter valued at $32,000. Capital Performance Advisors LLP bought a new position in shares of SBA Communications in the third quarter valued at about $35,000. Family Firm Inc. acquired a new position in SBA Communications during the 2nd quarter worth about $36,000. Finally, Global X Japan Co. Ltd. bought a new stake in SBA Communications during the 2nd quarter worth about $49,000. 97.35% of the stock is currently owned by institutional investors.

SBA Communications Stock Down 0.5 %

Shares of SBAC traded down $1.17 on Wednesday, hitting $216.21. The company's stock had a trading volume of 899,269 shares, compared to its average volume of 914,619. The firm has a market capitalization of $23.25 billion, a price-to-earnings ratio of 34.09, a P/E/G ratio of 0.74 and a beta of 0.67. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $258.76. The firm's fifty day moving average price is $230.17 and its 200-day moving average price is $219.71.

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

SBA Communications Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 14th will be paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date is Thursday, November 14th. SBA Communications's dividend payout ratio is currently 61.83%.

Analysts Set New Price Targets

Several analysts have recently commented on SBAC shares. Morgan Stanley increased their price target on shares of SBA Communications from $232.00 to $252.00 and gave the company an "overweight" rating in a research note on Wednesday, September 18th. The Goldman Sachs Group upped their target price on shares of SBA Communications from $212.00 to $240.00 and gave the company a "neutral" rating in a research report on Thursday, September 26th. StockNews.com upgraded shares of SBA Communications from a "hold" rating to a "buy" rating in a research report on Thursday, November 7th. Wells Fargo & Company increased their price objective on shares of SBA Communications from $220.00 to $240.00 and gave the company an "equal weight" rating in a report on Thursday, October 10th. Finally, KeyCorp lifted their target price on shares of SBA Communications from $230.00 to $280.00 and gave the stock an "overweight" rating in a report on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, SBA Communications has an average rating of "Moderate Buy" and an average price target of $257.23.

Insider Activity

In other news, EVP Donald Day sold 1,500 shares of the business's 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 completion of the sale, the executive vice president now owns 4,998 shares in the company, valued at $1,213,814.28. The trade was a 23.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Mark R. Ciarfella sold 3,545 shares of the company's stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $224.33, for a total value of $795,249.85. Following the completion of the transaction, the executive vice president now directly owns 33,588 shares in the company, valued at $7,534,796.04. The trade was a 9.55 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company's stock.

About SBA Communications

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.