Public Sector Pension Investment Board Increases Holdings in SBA Communications Co. (NASDAQ:SBAC)

Public Sector Pension Investment Board boosted its position in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 25.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,732 shares of the technology company's stock after acquiring an additional 3,820 shares during the quarter. Public Sector Pension Investment Board's holdings in SBA Communications were worth $4,509,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Tidal Investments LLC grew its holdings in shares of SBA Communications by 105.4% during the 1st quarter. Tidal Investments LLC now owns 5,279 shares of the technology company's stock valued at $1,144,000 after purchasing an additional 2,709 shares during the last quarter. AMF Tjanstepension AB bought a new position in shares of SBA Communications during the second quarter valued at about $8,197,000. Cetera Investment Advisers lifted its stake in shares of SBA Communications by 228.1% in the 1st quarter. Cetera Investment Advisers now owns 10,394 shares of the technology company's stock valued at $2,252,000 after acquiring an additional 7,226 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in SBA Communications during the 2nd quarter valued at about $12,918,000. Finally, Farther Finance Advisors LLC grew its position in SBA Communications by 32.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company's stock worth $52,000 after acquiring an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company's stock.

SBA Communications Stock Down 1.5 %

Shares of SBAC stock traded down $3.31 during trading hours on Monday, hitting $222.94. 644,263 shares of the company's stock traded hands, compared to its average volume of 916,740. The stock's fifty day simple moving average is $232.78 and its two-hundred day simple moving average is $218.45. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $258.76. The stock has a market cap of $23.97 billion, a price-to-earnings ratio of 35.16, a PEG ratio of 0.76 and a beta of 0.68.

SBA Communications (NASDAQ:SBAC - Get Free Report) last announced its quarterly earnings data 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). 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 for the quarter, compared to analysts' expectations of $669.29 million. During the same quarter in the previous year, the firm posted $3.34 EPS. The firm's quarterly revenue was down 2.2% compared to the same quarter last year. On average, equities analysts forecast that SBA Communications Co. will post 12.56 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

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

Analyst Ratings Changes

A number of analysts have recently weighed in on SBAC shares. Morgan Stanley increased their price objective on SBA Communications from $232.00 to $252.00 and gave the company an "overweight" rating in a research note on Wednesday, September 18th. TD Cowen upped their price objective 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. JPMorgan Chase & Co. raised their target price on SBA Communications from $228.00 to $250.00 and gave the stock a "neutral" rating in a research note on Monday, September 23rd. The Goldman Sachs Group upped their price target on SBA Communications from $212.00 to $240.00 and gave the company a "neutral" rating in a research report on Thursday, September 26th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on SBA Communications from $230.00 to $240.00 and gave the stock a "buy" rating in a research report on Wednesday, August 14th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, SBA Communications has an average rating of "Moderate Buy" and an average price target of $257.23.

Insiders Place Their Bets

In other news, EVP Donald Day sold 1,500 shares of the business's stock in a transaction on Friday, September 13th. The stock was sold at an average price of $242.86, for a total value of $364,290.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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.