Oak Thistle LLC Boosts Stock Position in SBA Communications Co. (NASDAQ:SBAC)

Oak Thistle LLC raised its position in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 76.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,623 shares of the technology company's stock after purchasing an additional 2,863 shares during the period. Oak Thistle LLC's holdings in SBA Communications were worth $1,350,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of SBA Communications by 14,529.1% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 251,328 shares of the technology company's stock worth $60,495,000 after acquiring an additional 249,610 shares during the period. Bank of Montreal Can lifted its holdings in SBA Communications by 135.5% during 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 in the last quarter. First Hawaiian Bank grew its position in shares of SBA Communications by 91.0% during the 4th quarter. First Hawaiian Bank now owns 12,377 shares of the technology company's stock worth $2,522,000 after buying an additional 5,897 shares during the period. Public Sector Pension Investment Board boosted its holdings in SBA Communications by 17.2% during the second quarter. Public Sector Pension Investment Board now owns 14,912 shares of the technology company's stock worth $2,927,000 after buying an additional 2,186 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of SBA Communications by 32.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company's stock valued at $52,000 after buying an additional 53 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company's stock.

SBA Communications Trading Up 1.1 %

Shares of NASDAQ:SBAC traded up $2.21 on Wednesday, reaching $197.23. The company had a trading volume of 1,021,009 shares, compared to its average volume of 841,323. The firm has a market capitalization of $21.21 billion, a PE ratio of 31.11, a PEG ratio of 0.72 and a beta of 0.69. The firm's 50 day simple moving average is $212.49 and its 200-day simple moving average is $221.36. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $252.64.

SBA Communications (NASDAQ:SBAC - Get Free Report) last issued its quarterly earnings data 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 net margin of 25.76% and a negative return on equity of 13.13%. The business had revenue of $667.60 million for the quarter, compared to analysts' expectations of $669.29 million. During the same quarter in the prior year, the company posted $3.34 EPS. The business's revenue for the quarter was down 2.2% on a year-over-year basis. As a group, equities research analysts predict that SBA Communications Co. will post 12.56 earnings per share for the current year.

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 14th were paid a dividend of $0.98 per share. The ex-dividend date was Thursday, November 14th. This represents a $3.92 dividend on an annualized basis and a yield of 1.99%. SBA Communications's payout ratio is 61.83%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SBAC. TD Cowen lifted their price target on shares of SBA Communications from $251.00 to $261.00 and gave the company a "buy" rating in a research note on Tuesday, October 29th. KeyCorp increased their price objective on shares of SBA Communications from $230.00 to $280.00 and gave the stock an "overweight" rating in a research note on Monday, October 14th. Raymond James increased their price objective on shares of SBA Communications from $285.00 to $300.00 and gave the company a "strong-buy" rating in a research note on Tuesday, October 29th. Morgan Stanley upped their price target on SBA Communications from $232.00 to $252.00 and gave the company an "overweight" rating in a research report on Wednesday, September 18th. Finally, Barclays lowered their price objective on shares of SBA Communications from $257.00 to $254.00 and set an "overweight" rating for the company in a research note on Monday. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $254.77.

Insiders Place Their Bets

In other SBA Communications news, EVP Mark R. Ciarfella sold 3,545 shares of the firm's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the transaction, the executive vice president now owns 33,588 shares in the company, valued at approximately $7,534,796.04. This trade represents a 9.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Donald Day sold 2,321 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $203.43, for a total transaction of $472,161.03. Following the completion of the sale, the executive vice president now owns 4,998 shares of the company's stock, valued at $1,016,743.14. This trade represents a 31.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company's stock.

SBA Communications 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.