Oregon Public Employees Retirement Fund Boosts Position in SBA Communications Co. (NASDAQ:SBAC)

Oregon Public Employees Retirement Fund raised its stake in SBA Communications Co. (NASDAQ:SBAC) by 0.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,265 shares of the technology company’s stock after purchasing an additional 53 shares during the period. Oregon Public Employees Retirement Fund’s holdings in SBA Communications were worth $1,819,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Ridgewood Investments LLC acquired a new position in shares of SBA Communications in the 2nd quarter valued at $32,000. Quarry LP boosted its stake in SBA Communications by 400.0% in the fourth quarter. Quarry LP now owns 165 shares of the technology company’s stock valued at $42,000 after acquiring an additional 132 shares in the last quarter. Family Firm Inc. purchased a new position in shares of SBA Communications during the second quarter worth about $36,000. Versant Capital Management Inc increased its position in shares of SBA Communications by 4,500.0% during the second quarter. Versant Capital Management Inc now owns 276 shares of the technology company’s stock worth $54,000 after purchasing an additional 270 shares in the last quarter. Finally, Crewe Advisors LLC purchased a new stake in shares of SBA Communications in the 1st quarter valued at about $70,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Trading Up 2.2 %

NASDAQ SBAC opened at $238.51 on Friday. The stock has a market capitalization of $25.63 billion, a price-to-earnings ratio of 46.77, a PEG ratio of 0.70 and a beta of 0.67. The business’s 50 day moving average is $215.05 and its two-hundred day moving average is $206.98. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $258.76.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Monday, July 29th. The technology company reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.56). SBA Communications had a negative return on equity of 9.85% and a net margin of 19.22%. The business had revenue of $660.50 million for the quarter, compared to analyst estimates of $665.21 million. During the same period in the prior year, the company earned $3.24 EPS. The company’s revenue was down 2.7% on a year-over-year basis. Equities analysts forecast that SBA Communications Co. will post 12.53 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

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

Wall Street Analysts Forecast Growth

SBAC has been the topic of a number of research reports. BMO Capital Markets cut their price target on SBA Communications from $250.00 to $245.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of SBA Communications from $230.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. The Goldman Sachs Group initiated coverage on shares of SBA Communications in a research note on Monday, July 1st. They set a “neutral” rating and a $212.00 price target for the company. Wells Fargo & Company lowered shares of SBA Communications from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $230.00 to $220.00 in a research note on Monday, July 15th. Finally, KeyCorp increased their target price on shares of SBA Communications from $227.00 to $230.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, SBA Communications currently has an average rating of “Moderate Buy” and a consensus price target of $237.92.

Insider Buying and Selling

In other SBA Communications news, Chairman Jeffrey Stoops sold 49,765 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $222.01, for a total value of $11,048,327.65. Following the completion of the transaction, the chairman now directly owns 109,583 shares of the company’s stock, valued at $24,328,521.83. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director George R. Krouse, Jr. sold 325 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now owns 8,084 shares in the company, valued at $1,775,084.72. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Jeffrey Stoops sold 49,765 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the completion of the sale, the chairman now owns 109,583 shares in the company, valued at $24,328,521.83. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

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.