Robeco Institutional Asset Management B.V. Cuts Position in SBA Communications Co. (NASDAQ:SBAC)

Robeco Institutional Asset Management B.V. lowered its holdings in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 65.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,024 shares of the technology company's stock after selling 62,400 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in SBA Communications were worth $7,949,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of SBAC. Ridgewood Investments LLC bought a new stake in SBA Communications during the 2nd quarter worth approximately $32,000. Family Firm Inc. acquired a new stake in shares of SBA Communications in the 2nd quarter valued at $36,000. Friedenthal Financial bought a new stake in shares of SBA Communications during the third quarter worth $50,000. Farther Finance Advisors LLC lifted its stake 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 during the period. Finally, Eastern Bank bought a new position in SBA Communications in the third quarter valued at about $58,000. Institutional investors own 97.35% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on SBAC shares. Morgan Stanley boosted their price objective on SBA Communications from $232.00 to $252.00 and gave the stock an "overweight" rating in a report on Wednesday, September 18th. JPMorgan Chase & Co. raised 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. Barclays upped their target price on shares of SBA Communications from $236.00 to $256.00 and gave the company an "overweight" rating in a research report on Thursday, October 10th. Royal Bank of Canada lifted their price objective on SBA Communications from $235.00 to $245.00 and gave the stock an "outperform" rating in a research note on Monday, August 5th. Finally, 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 report on Thursday, October 10th. Three equities research 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 MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $257.23.

SBA Communications Stock Performance

Shares of SBAC traded up $2.36 during mid-day trading on Friday, reaching $223.94. 1,002,582 shares of the company were exchanged, compared to its average volume of 925,648. The stock has a market capitalization of $24.08 billion, a PE ratio of 35.35, a PEG ratio of 0.74 and a beta of 0.68. The business has a 50 day simple moving average of $237.80 and a two-hundred day simple moving average of $215.20. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $258.76.

SBA Communications (NASDAQ:SBAC - Get Free Report) last announced its earnings results on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.77). The firm had revenue of $667.60 million during the quarter, compared to analysts' expectations of $669.29 million. SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The business's revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.34 EPS. On average, analysts predict that SBA Communications Co. will post 12.56 EPS for the current year.

SBA Communications Dividend Announcement

The business 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 dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Thursday, November 14th. SBA Communications's payout ratio is presently 61.83%.

Insider Activity

In other SBA Communications news, EVP Donald Day sold 1,500 shares of the firm's stock in a transaction on Friday, September 13th. The shares were 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 directly owns 4,998 shares of the company's stock, valued at $1,213,814.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director George R. Krouse, Jr. sold 325 shares of the stock in a transaction that occurred 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 owns 8,084 shares of the company's stock, valued at approximately $1,775,084.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Donald Day sold 1,500 shares of the firm's stock in a transaction on 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 approximately $1,213,814.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company 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.