SBA Communications Co. (NASDAQ:SBAC) Shares Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board grew its stake in SBA Communications Co. (NASDAQ:SBAC) by 25.6% during the 3rd quarter, Holdings Channel reports. The firm owned 18,732 shares of the technology company’s stock after purchasing an additional 3,820 shares during the quarter. Public Sector Pension Investment Board’s holdings in SBA Communications were worth $4,509,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of SBAC. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in SBA Communications by 10.7% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 527 shares of the technology company’s stock worth $127,000 after buying an additional 51 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of SBA Communications by 0.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 9,265 shares of the technology company’s stock worth $1,819,000 after acquiring an additional 53 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of SBA Communications by 32.5% in the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock worth $52,000 after acquiring an additional 53 shares during the last quarter. Checchi Capital Advisers LLC increased its position in shares of SBA Communications by 4.1% during the second quarter. Checchi Capital Advisers LLC now owns 1,457 shares of the technology company’s stock worth $286,000 after purchasing an additional 57 shares in the last quarter. Finally, Sugarloaf Wealth Management LLC raised its stake in SBA Communications by 11.6% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 558 shares of the technology company’s stock valued at $134,000 after purchasing an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Insider Activity at SBA Communications

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 sale, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at $1,213,814.28. This represents a 23.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.30% of the company’s stock.

SBA Communications Trading Down 1.0 %

Shares of NASDAQ:SBAC opened at $226.25 on Monday. The company has a market capitalization of $24.33 billion, a price-to-earnings ratio of 35.69, a PEG ratio of 0.76 and a beta of 0.68. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $258.76. The business has a 50-day moving average price of $232.78 and a 200 day moving average price of $218.45.

SBA Communications (NASDAQ:SBAC) last released its quarterly 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). SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The company had revenue of $667.60 million during the quarter, compared to analysts’ expectations of $669.29 million. During the same period last year, the firm posted $3.34 earnings per share. SBA Communications’s revenue was down 2.2% on a year-over-year basis. As a group, equities research analysts predict that SBA Communications Co. will post 12.56 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Thursday, November 14th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.73%. SBA Communications’s payout ratio is presently 61.83%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Morgan Stanley upped their price objective on shares of SBA Communications from $232.00 to $252.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. StockNews.com raised shares of SBA Communications from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. The Goldman Sachs Group upped their price target on SBA Communications from $212.00 to $240.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. Finally, BMO Capital Markets lifted their price objective on SBA Communications from $255.00 to $260.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus 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.