Pathway Financial Advisors LLC Invests $213,000 in SBA Communications Co. (NASDAQ:SBAC)

Pathway Financial Advisors LLC acquired a new position in shares of SBA Communications Co. (NASDAQ:SBAC) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 885 shares of the technology company’s stock, valued at approximately $213,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Oregon Public Employees Retirement Fund boosted its position in shares of SBA Communications by 0.6% during the second quarter. Oregon Public Employees Retirement Fund now owns 9,265 shares of the technology company’s stock worth $1,819,000 after buying an additional 53 shares during the period. Ballentine Partners LLC lifted its position in shares of SBA Communications by 2.7% during the 1st quarter. Ballentine Partners LLC now owns 2,068 shares of the technology company’s stock valued at $448,000 after acquiring an additional 55 shares during the last quarter. Checchi Capital Advisers LLC lifted its position in shares of SBA Communications by 4.1% during the 2nd quarter. Checchi Capital Advisers LLC now owns 1,457 shares of the technology company’s stock valued at $286,000 after acquiring an additional 57 shares during the last quarter. Industrial Alliance Investment Management Inc. lifted its position in shares of SBA Communications by 3.9% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 1,560 shares of the technology company’s stock valued at $338,000 after acquiring an additional 58 shares during the last quarter. Finally, Sugarloaf Wealth Management LLC lifted its position in shares of SBA Communications by 11.6% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 558 shares of the technology company’s stock valued at $134,000 after acquiring an additional 58 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Price Performance

SBAC stock opened at $238.62 on Wednesday. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $258.76. The company has a 50-day moving average of $230.36 and a two-hundred day moving average of $210.87. The stock has a market capitalization of $25.64 billion, a price-to-earnings ratio of 46.79, a price-to-earnings-growth ratio of 0.73 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, July 29th. The technology company reported $1.51 earnings per share for the quarter, missing the consensus estimate of $2.07 by ($0.56). SBA Communications had a net margin of 19.22% and a negative return on equity of 9.85%. The company had revenue of $660.50 million during the quarter, compared to the consensus estimate of $665.21 million. During the same quarter in the previous year, the business posted $3.24 EPS. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. Equities analysts expect that SBA Communications Co. will post 12.52 EPS for the current fiscal year.

SBA Communications Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Thursday, August 22nd were paid a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend was Thursday, August 22nd. SBA Communications’s payout ratio is presently 76.86%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on SBAC shares. KeyCorp increased their price objective on SBA Communications from $227.00 to $230.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. boosted their target price on shares of SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Barclays dropped their price target on shares of SBA Communications from $240.00 to $236.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upped their price target on shares of SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Finally, StockNews.com raised shares of SBA Communications from a “hold” rating to a “buy” rating in a research note on Friday, September 20th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $244.08.

Insider Activity at SBA Communications

In related news, EVP Donald Day sold 1,500 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,213,814.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director George R. Krouse, Jr. sold 325 shares of the stock in a transaction dated 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 transaction, the director now owns 8,084 shares of the company’s stock, valued at $1,775,084.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Donald Day sold 1,500 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at $1,213,814.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,590 shares of company stock worth $11,483,981. Company insiders own 1.30% of the company’s stock.

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.