SBA Communications Co. (NASDAQ:SBAC) Shares Bought by US Bancorp DE

US Bancorp DE grew its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 0.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,118 shares of the technology company’s stock after purchasing an additional 134 shares during the period. US Bancorp DE’s holdings in SBA Communications were worth $4,842,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC boosted its stake in SBA Communications by 6.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,722 shares of the technology company’s stock valued at $807,000 after buying an additional 237 shares in the last quarter. First Trust Direct Indexing L.P. boosted its stake in SBA Communications by 5.1% during the first quarter. First Trust Direct Indexing L.P. now owns 1,913 shares of the technology company’s stock valued at $415,000 after buying an additional 93 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in SBA Communications by 5.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,603 shares of the technology company’s stock valued at $5,982,000 after buying an additional 1,309 shares in the last quarter. Janney Montgomery Scott LLC boosted its stake in SBA Communications by 72.5% during the first quarter. Janney Montgomery Scott LLC now owns 2,389 shares of the technology company’s stock valued at $518,000 after buying an additional 1,004 shares in the last quarter. Finally, Central Pacific Bank Trust Division bought a new position in SBA Communications during the first quarter valued at about $125,000. 97.35% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of SBA Communications stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total value of $71,363.50. Following the transaction, the director now directly owns 8,084 shares of the company’s stock, valued at $1,775,084.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Donald Day sold 1,500 shares of SBA Communications 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 sale, the executive vice president now owns 4,998 shares of the company’s stock, valued at approximately $1,213,814.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George R. Krouse, Jr. sold 325 shares of SBA Communications stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total value of $71,363.50. Following the sale, the director now directly owns 8,084 shares in the company, valued at $1,775,084.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on SBAC shares. JPMorgan Chase & Co. increased their price target on SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. The Goldman Sachs Group increased 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. Morgan Stanley increased their price target on SBA Communications from $232.00 to $252.00 and gave the company an “overweight” rating in a research report on Wednesday, September 18th. Raymond James raised their price objective on 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, Royal Bank of Canada raised their price objective on SBA Communications from $235.00 to $245.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $257.23.

SBA Communications Price Performance

SBAC opened at $228.77 on Tuesday. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $258.76. The business has a 50-day moving average of $237.98 and a 200-day moving average of $214.95. The company has a market capitalization of $24.59 billion, a PE ratio of 36.08, a price-to-earnings-growth ratio of 0.69 and a beta of 0.68.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, October 28th. The technology company reported $2.40 earnings per share 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 the consensus estimate of $669.29 million. During the same period in the previous year, the business posted $3.34 earnings per share. The firm’s revenue was down 2.2% on a year-over-year basis. On average, equities research analysts expect that SBA Communications Co. will post 12.56 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 14th will be given a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 1.71%. The ex-dividend date is Thursday, November 14th. SBA Communications’s dividend payout ratio is currently 61.83%.

SBA Communications 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.