SBA Communications Co. (NASDAQ:SBAC) Shares Acquired by Partners Group Holding AG

Partners Group Holding AG increased its stake in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 15.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 155,951 shares of the technology company's stock after buying an additional 21,136 shares during the period. SBA Communications comprises about 2.5% of Partners Group Holding AG's holdings, making the stock its 17th biggest position. Partners Group Holding AG owned about 0.15% of SBA Communications worth $37,537,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in SBAC. Ashton Thomas Securities LLC bought a new position in SBA Communications in the 3rd quarter worth $26,000. Ridgewood Investments LLC acquired a new position in shares of SBA Communications in the second quarter worth $32,000. Capital Performance Advisors LLP bought a new position in shares of SBA Communications in the 3rd quarter worth about $35,000. Family Firm Inc. purchased a new stake in shares of SBA Communications in the second quarter valued at $36,000. Finally, Global X Japan Co. Ltd. bought a new stake in shares of SBA Communications during the 2nd quarter worth $49,000. Institutional investors own 97.35% of the company's stock.

Insider Activity at SBA Communications

In other news, EVP Donald Day sold 1,500 shares of the firm'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 trade represents a 23.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.30% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. StockNews.com raised SBA Communications from a "hold" rating to a "buy" rating in a report on Thursday, November 7th. JPMorgan Chase & Co. boosted their target price on shares of SBA Communications from $228.00 to $250.00 and gave the stock a "neutral" rating in a research report on Monday, September 23rd. Wells Fargo & Company lifted their price target on shares of SBA Communications from $220.00 to $240.00 and gave the company an "equal weight" rating in a research report on Thursday, October 10th. Morgan Stanley boosted their price objective on SBA Communications from $232.00 to $252.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 18th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on SBA Communications from $230.00 to $240.00 and gave the stock a "buy" rating in a research note on Wednesday, August 14th. Three investment 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 company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $257.23.

SBA Communications Trading Up 0.3 %

NASDAQ:SBAC traded up $0.61 on Tuesday, hitting $226.59. 644,352 shares of the stock were exchanged, compared to its average volume of 922,671. The stock has a market cap of $24.36 billion, a PE ratio of 35.74, a PEG ratio of 0.75 and a beta of 0.68. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $258.76. The stock has a fifty day moving average of $233.84 and a 200-day moving average of $217.65.

SBA Communications (NASDAQ:SBAC - Get Free Report) last announced its quarterly 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 25.76% and a negative return on equity of 13.13%. The business had revenue of $667.60 million for the quarter, compared to analyst estimates of $669.29 million. During the same period last year, the firm earned $3.34 earnings per share. The company's quarterly revenue was down 2.2% on a year-over-year basis. As a group, analysts predict that SBA Communications Co. will post 12.56 earnings per share for the current year.

SBA Communications Dividend Announcement

The business 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 is Thursday, November 14th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.73%. SBA Communications's dividend payout ratio (DPR) is currently 61.83%.

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.