SBA Communications Co. (NASDAQ:SBAC) Shares Purchased by Czech National Bank

Czech National Bank boosted its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 6.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,314 shares of the technology company’s stock after buying an additional 1,421 shares during the period. Czech National Bank’s holdings in SBA Communications were worth $4,751,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SBAC. Acadian Asset Management LLC acquired a new stake in SBA Communications during the second quarter worth about $656,000. DekaBank Deutsche Girozentrale grew its stake in shares of SBA Communications by 13.4% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 26,380 shares of the technology company’s stock valued at $5,165,000 after buying an additional 3,114 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in shares of SBA Communications by 49.6% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 1,864 shares of the technology company’s stock worth $366,000 after buying an additional 618 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its position in shares of SBA Communications by 15.9% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,774 shares of the technology company’s stock valued at $348,000 after buying an additional 244 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its stake in SBA Communications by 2.5% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 7,821 shares of the technology company’s stock worth $1,531,000 after acquiring an additional 189 shares during the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on SBAC. StockNews.com lowered SBA Communications from a “buy” rating to a “hold” rating in a research report on Monday. KeyCorp raised their target price on shares of SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Barclays decreased their price target on SBA Communications from $257.00 to $254.00 and set an “overweight” rating for the company in a report on Monday. TD Cowen boosted their price objective on shares of SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Finally, Morgan Stanley raised their price objective on SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a report on Wednesday, September 18th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $254.77.

SBA Communications Trading Up 1.1 %

NASDAQ:SBAC opened at $197.23 on Thursday. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $252.64. The firm has a market cap of $21.21 billion, a price-to-earnings ratio of 31.11, a price-to-earnings-growth ratio of 0.72 and a beta of 0.69. The company’s 50-day moving average is $212.49 and its two-hundred day moving average is $221.36.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Monday, October 28th. The technology company reported $2.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.77). The firm had revenue of $667.60 million for the quarter, compared to analysts’ expectations of $669.29 million. SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The business’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $3.34 EPS. On average, equities research analysts forecast that SBA Communications Co. will post 12.56 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th were given a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date was Thursday, November 14th. SBA Communications’s dividend payout ratio is currently 61.83%.

Insider Activity at SBA Communications

In related news, EVP Donald Day sold 2,321 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $203.43, for a total value of $472,161.03. Following the completion of the sale, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,016,743.14. The trade was a 31.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark R. Ciarfella sold 3,545 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $224.33, for a total transaction of $795,249.85. Following the transaction, the executive vice president now directly owns 33,588 shares in the company, valued at approximately $7,534,796.04. This represents a 9.55 % decrease in their position. The disclosure for this sale can be found here. 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.