Nisa Investment Advisors LLC lifted its stake in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 11.0% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 61,926 shares of the technology company's stock after buying an additional 6,129 shares during the quarter. Nisa Investment Advisors LLC owned about 0.06% of SBA Communications worth $14,906,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of SBA Communications during the 2nd quarter worth $134,738,000. Long Pond Capital LP bought a new stake in SBA Communications during the second quarter worth about $83,687,000. AQR Capital Management LLC grew its stake in SBA Communications by 500.0% during the second quarter. AQR Capital Management LLC now owns 369,037 shares of the technology company's stock worth $72,375,000 after buying an additional 307,530 shares in the last quarter. Diamond Hill Capital Management Inc. increased its holdings in SBA Communications by 13.4% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,973,867 shares of the technology company's stock valued at $387,470,000 after buying an additional 233,179 shares during the period. Finally, BNP Paribas Financial Markets raised its position in shares of SBA Communications by 144.7% in the 1st quarter. BNP Paribas Financial Markets now owns 359,736 shares of the technology company's stock valued at $77,955,000 after buying an additional 212,739 shares in the last quarter. Institutional investors own 97.35% of the company's stock.
Insider Activity
In related news, Chairman Jeffrey Stoops sold 49,765 shares of the business's stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the transaction, the chairman now directly owns 109,583 shares in the company, valued at approximately $24,328,521.83. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director George R. Krouse, Jr. sold 325 shares of the firm's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total transaction of $71,363.50. Following the completion of the sale, the director now directly owns 8,084 shares of the company's stock, valued at $1,775,084.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Jeffrey Stoops sold 49,765 shares of SBA Communications stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $222.01, for a total value of $11,048,327.65. Following the sale, the chairman now owns 109,583 shares in the company, valued at $24,328,521.83. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 51,590 shares of company stock worth $11,483,981 over the last quarter. Insiders own 1.30% of the company's stock.
SBA Communications Trading Up 0.1 %
NASDAQ SBAC traded up $0.13 during trading hours on Wednesday, hitting $231.88. The company's stock had a trading volume of 821,871 shares, compared to its average volume of 917,973. The company has a market capitalization of $24.92 billion, a PE ratio of 48.92, a price-to-earnings-growth ratio of 0.73 and a beta of 0.67. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $258.76. The company's 50-day simple moving average is $237.77 and its two-hundred day simple moving average is $214.16.
SBA Communications (NASDAQ:SBAC - Get Free Report) last posted its earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share for the quarter, missing analysts' consensus estimates of $3.17 by ($0.77). SBA Communications had a net margin of 19.22% and a negative return on equity of 9.85%. The company had revenue of $667.60 million during the quarter, compared to the consensus estimate of $669.29 million. During the same quarter in the prior year, the business earned $3.34 EPS. The firm's revenue for the quarter was down 2.2% compared to the same quarter last year. Research analysts anticipate that SBA Communications Co. will post 12.52 EPS for the current fiscal year.
SBA Communications Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th will be paid a $0.98 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.92 annualized dividend and a dividend yield of 1.69%. SBA Communications's payout ratio is 82.70%.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on the company. StockNews.com raised SBA Communications from a "hold" rating to a "buy" rating in a report on Friday, September 20th. Royal Bank of Canada lifted their target price on SBA Communications from $235.00 to $245.00 and gave the company an "outperform" rating in a research report on Monday, August 5th. Morgan Stanley increased their target price on shares of SBA Communications from $232.00 to $252.00 and gave the stock an "overweight" rating in a report on Wednesday, September 18th. Raymond James lifted their price target on shares of SBA Communications from $285.00 to $300.00 and gave the company a "strong-buy" rating in a report on Tuesday. Finally, JPMorgan Chase & Co. increased their price objective on shares of SBA Communications from $228.00 to $250.00 and gave the company a "neutral" rating in a research note on Monday, September 23rd. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $257.23.
Check Out Our Latest Analysis on SBA Communications
SBA Communications Company Profile
(
Free Report)
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.
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