Royal London Asset Management Ltd. Has $12.73 Million Stake in SBA Communications Co. (NASDAQ:SBAC)

Royal London Asset Management Ltd. decreased its holdings in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 6.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 52,900 shares of the technology company's stock after selling 3,543 shares during the quarter. Royal London Asset Management Ltd.'s holdings in SBA Communications were worth $12,733,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new stake in shares of SBA Communications during the 3rd quarter valued at approximately $26,000. Capital Performance Advisors LLP purchased a new stake in SBA Communications during the third quarter worth $35,000. Ridgewood Investments LLC acquired a new stake in SBA Communications in the second quarter valued at $32,000. Family Firm Inc. purchased a new position in shares of SBA Communications in the second quarter valued at $36,000. Finally, Friedenthal Financial acquired a new position in shares of SBA Communications during the 3rd quarter worth $50,000. Institutional investors and hedge funds own 97.35% of the company's stock.

Insider Buying and Selling

In other SBA Communications news, EVP Donald Day sold 1,500 shares of the business's stock in a transaction on Friday, September 13th. The shares were sold at an average price of $242.86, for a total transaction of $364,290.00. Following the sale, the executive vice president now directly owns 4,998 shares of the company's stock, valued at $1,213,814.28. The trade was a 23.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is currently owned by company insiders.

SBA Communications Stock Performance

Shares of NASDAQ:SBAC traded down $1.20 during midday trading on Friday, hitting $220.38. 1,072,271 shares of the company's stock traded hands, compared to its average volume of 809,914. The firm's fifty day moving average price is $231.02 and its two-hundred day moving average price is $219.26. The company has a market cap of $23.70 billion, a PE ratio of 34.76, a P/E/G ratio of 0.75 and a beta of 0.67. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $258.76.

SBA Communications (NASDAQ:SBAC - Get Free Report) last posted its quarterly earnings data on Monday, October 28th. The technology company reported $2.40 earnings per share 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 the consensus estimate of $669.29 million. During the same quarter last year, the business 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 anticipate that SBA Communications Co. will post 12.56 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors 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 yield of 1.78%. SBA Communications's dividend payout ratio is currently 61.83%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. 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. The Goldman Sachs Group upped their price objective on SBA Communications from $212.00 to $240.00 and gave the company a "neutral" rating in a research report on Thursday, September 26th. Barclays lifted their price objective on SBA Communications from $236.00 to $256.00 and gave the stock an "overweight" rating in a research report on Thursday, October 10th. Morgan Stanley upped their target price on shares of SBA Communications from $232.00 to $252.00 and gave the company an "overweight" rating in a report on Wednesday, September 18th. Finally, KeyCorp lifted their price target on shares of SBA Communications from $230.00 to $280.00 and gave the stock an "overweight" rating in a report on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $257.23.

About SBA Communications

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.