SBA Communications Co. (NASDAQ:SBAC) Stock Holdings Increased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans increased its position in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 9.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 874,945 shares of the technology company's stock after buying an additional 72,255 shares during the period. Thrivent Financial for Lutherans owned about 0.81% of SBA Communications worth $210,600,000 at the end of the most recent reporting period.

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

SBA Communications Trading Up 1.2 %

SBA Communications stock traded up $2.62 during midday trading on Friday, reaching $221.09. 889,861 shares of the stock traded hands, compared to its average volume of 994,599. The firm has a fifty day moving average price of $236.35 and a two-hundred day moving average price of $216.56. The firm has a market cap of $23.77 billion, a price-to-earnings ratio of 34.87, 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.

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

SBA Communications Announces Dividend

The business also recently declared 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. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Thursday, November 14th. SBA Communications's dividend payout ratio is currently 61.83%.

Insider Transactions at SBA Communications

In other news, Director George R. Krouse, Jr. sold 325 shares of the company's stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total value of $71,363.50. Following the completion of the sale, the director now directly owns 8,084 shares of the company's stock, valued at approximately $1,775,084.72. This represents a 3.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Donald Day sold 1,500 shares of the business's stock in a transaction that occurred 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 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 disclosure for this sale can be found here. Company insiders own 1.30% of the company's stock.

Wall Street Analyst Weigh In

SBAC has been the subject of several research analyst reports. 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 research report on Thursday, October 10th. Morgan Stanley boosted their target price on shares of SBA Communications from $232.00 to $252.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 18th. BMO Capital Markets lifted their price target on shares of SBA Communications from $255.00 to $260.00 and gave the company an "outperform" rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. lifted their price target on shares of SBA Communications from $228.00 to $250.00 and gave the company a "neutral" rating in a report on Monday, September 23rd. Finally, Royal Bank of Canada lifted their price target on shares of SBA Communications from $235.00 to $245.00 and gave the company an "outperform" rating in a report on Monday, August 5th. 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 data from MarketBeat.com, the stock 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.