UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Stake in SBA Communications Co. (NASDAQ:SBAC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 377.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 886,384 shares of the technology company's stock after purchasing an additional 700,791 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.82% of SBA Communications worth $213,353,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Diamond Hill Capital Management Inc. boosted its holdings in shares of SBA Communications by 13.4% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,973,867 shares of the technology company's stock valued at $387,470,000 after purchasing an additional 233,179 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of SBA Communications by 5.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,269,786 shares of the technology company's stock valued at $305,637,000 after acquiring an additional 62,555 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of SBA Communications by 2,821.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company's stock valued at $292,714,000 after acquiring an additional 1,174,469 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of 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 valued at $233,654,000 after acquiring an additional 159,433 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of SBA Communications by 9.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 874,945 shares of the technology company's stock valued at $210,600,000 after acquiring an additional 72,255 shares during the last quarter. Institutional investors own 97.35% of the company's stock.

SBA Communications Trading Down 1.0 %

Shares of SBA Communications stock traded down $2.26 on Friday, hitting $226.25. 351,601 shares of the company traded hands, compared to its average volume of 905,552. The stock's 50 day moving average price is $232.78 and its 200-day moving average price is $218.33. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $258.76. The company has a market cap of $24.33 billion, a PE ratio of 35.69, a PEG ratio of 0.76 and a beta of 0.68.

SBA Communications (NASDAQ:SBAC - Get Free Report) last issued its quarterly earnings data on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing analysts' consensus estimates of $3.17 by ($0.77). The business had revenue of $667.60 million during 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 business's quarterly revenue was down 2.2% on a year-over-year basis. During the same period last year, the firm earned $3.34 EPS. As a group, research analysts anticipate that SBA Communications Co. will post 12.56 EPS for the current fiscal year.

SBA Communications Announces Dividend

The firm also recently disclosed 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. This represents a $3.92 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend is Thursday, November 14th. SBA Communications's dividend payout ratio (DPR) is 61.83%.

Insider Buying and Selling

In related news, EVP Donald Day sold 1,500 shares of the business'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 value of $364,290.00. Following the completion of the transaction, the executive vice president now owns 4,998 shares of the company's stock, valued at $1,213,814.28. The trade was a 23.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SBAC. TD Cowen increased their price target on shares of SBA Communications from $251.00 to $261.00 and gave the company a "buy" rating in a report on Tuesday, October 29th. Morgan Stanley increased their price target 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. Deutsche Bank Aktiengesellschaft increased their price objective on shares of SBA Communications from $230.00 to $240.00 and gave the stock a "buy" rating in a research report on Wednesday, August 14th. Raymond James increased their price objective on shares of SBA Communications from $285.00 to $300.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, October 29th. Finally, StockNews.com raised shares of SBA Communications from a "hold" rating to a "buy" rating in a research report on Thursday, November 7th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus 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.