Victory Capital Management Inc. Acquires 1,174,469 Shares of SBA Communications Co. (NASDAQ:SBAC)

Victory Capital Management Inc. boosted its holdings in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 2,821.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,216,094 shares of the technology company's stock after acquiring an additional 1,174,469 shares during the period. Victory Capital Management Inc. owned 1.13% of SBA Communications worth $292,714,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in SBA Communications by 0.5% in the first quarter. Vanguard Group Inc. now owns 17,368,209 shares of the technology company's stock worth $3,763,691,000 after purchasing an additional 88,339 shares during the period. Diamond Hill Capital Management Inc. lifted its stake in SBA Communications by 13.4% in the second quarter. Diamond Hill Capital Management Inc. now owns 1,973,867 shares of the technology company's stock valued at $387,470,000 after buying an additional 233,179 shares in the last quarter. American Century Companies Inc. boosted its stake in SBA Communications by 15.5% in the 2nd quarter. American Century Companies Inc. now owns 1,190,288 shares of the technology company's stock worth $233,654,000 after purchasing an additional 159,433 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in SBA Communications by 3.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 986,487 shares of the technology company's stock worth $213,773,000 after purchasing an additional 33,507 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its holdings in shares of SBA Communications by 34.7% in the second quarter. D. E. Shaw & Co. Inc. now owns 792,147 shares of the technology company's stock valued at $155,498,000 after purchasing an additional 203,938 shares in the last quarter. Institutional investors own 97.35% of the company's stock.

Insider Activity

In related news, EVP Donald Day sold 1,500 shares of the company'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 $1,213,814.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Donald Day sold 1,500 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at $1,213,814.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director George R. Krouse, Jr. sold 325 shares of the company's 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 transaction, 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 disclosure for this sale can be found here. Corporate insiders own 1.30% of the company's stock.

SBA Communications Stock Down 0.3 %

Shares of SBA Communications stock traded down $0.59 on Tuesday, hitting $219.60. The stock had a trading volume of 1,153,820 shares, compared to its average volume of 928,887. The stock has a market cap of $23.61 billion, a price-to-earnings ratio of 34.73, a price-to-earnings-growth ratio of 0.76 and a beta of 0.68. The business's 50 day moving average is $237.52 and its two-hundred day moving average is $215.82. 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). The firm had revenue of $667.60 million for the quarter, compared to the consensus estimate of $669.29 million. SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The firm's quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.34 EPS. As a group, equities analysts predict that SBA Communications Co. will post 12.56 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th will be given 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 1.79%. SBA Communications's payout ratio is 61.83%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Royal Bank of Canada boosted their price objective on shares of SBA Communications from $235.00 to $245.00 and gave the stock an "outperform" rating in a research report on Monday, August 5th. Raymond James upped their target price on SBA Communications from $285.00 to $300.00 and gave the stock a "strong-buy" rating in a report on Tuesday, October 29th. BMO Capital Markets raised their price target on SBA Communications from $255.00 to $260.00 and gave the company an "outperform" rating in a research note on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft upped their price objective on SBA Communications from $230.00 to $240.00 and gave the stock a "buy" rating in a research note on Wednesday, August 14th. Finally, Barclays boosted their target price on shares of SBA Communications from $236.00 to $256.00 and gave the stock an "overweight" rating in a report on Thursday, October 10th. Three investment 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. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $257.23.

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.