SBA Communications Co. (NASDAQ:SBAC) Stock Position Raised by Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management Co. grew its holdings in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 11.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,202 shares of the technology company's stock after purchasing an additional 5,212 shares during the quarter. Duff & Phelps Investment Management Co.'s holdings in SBA Communications were worth $12,084,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of SBAC. Cetera Investment Advisers increased its stake in SBA Communications by 228.1% in the 1st quarter. Cetera Investment Advisers now owns 10,394 shares of the technology company's stock worth $2,252,000 after purchasing an additional 7,226 shares during the period. Caisse DE Depot ET Placement DU Quebec lifted its position in SBA Communications by 14,529.1% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 251,328 shares of the technology company's stock valued at $60,495,000 after buying an additional 249,610 shares during the period. Bank of Montreal Can grew its stake in shares of SBA Communications by 135.5% in the 3rd quarter. Bank of Montreal Can now owns 420,514 shares of the technology company's stock worth $100,351,000 after buying an additional 241,916 shares during the last quarter. Public Sector Pension Investment Board boosted its stake in SBA Communications by 17.2% in the 2nd quarter. Public Sector Pension Investment Board now owns 14,912 shares of the technology company's stock worth $2,927,000 after purchasing an additional 2,186 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of SBA Communications by 32.5% during the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company's stock valued at $52,000 after acquiring an additional 53 shares in the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Stock Up 1.3 %

NASDAQ:SBAC traded up $2.88 on Monday, reaching $223.26. 866,855 shares of the company's stock were exchanged, compared to its average volume of 914,607. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $258.76. The firm has a market capitalization of $24.00 billion, a price-to-earnings ratio of 34.76, a price-to-earnings-growth ratio of 0.74 and a beta of 0.67. The business has a fifty day moving average of $231.02 and a 200-day moving average of $219.26.

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

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 14th will be issued a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Thursday, November 14th. SBA Communications's dividend payout ratio (DPR) is currently 61.83%.

Insider Buying and Selling

In other SBA Communications news, EVP Donald Day sold 1,500 shares of the company's stock in a transaction dated 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 directly owns 4,998 shares in the company, valued at $1,213,814.28. This represents a 23.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.30% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on SBAC shares. Wells Fargo & Company lifted their price target on shares of SBA Communications from $220.00 to $240.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 10th. Morgan Stanley increased their target price on SBA Communications from $232.00 to $252.00 and gave the company an "overweight" rating in a report on Wednesday, September 18th. Raymond James boosted their price target on SBA Communications from $285.00 to $300.00 and gave the company a "strong-buy" rating in a research note on Tuesday, October 29th. 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 report on Thursday, September 26th. Finally, TD Cowen upped their price objective on SBA Communications from $251.00 to $261.00 and gave the stock a "buy" rating in a research note on Tuesday, October 29th. Three 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. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $257.23.

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.