Global X Japan Co. Ltd. Invests $49,000 in SBA Communications Co. (NASDAQ:SBAC)

Global X Japan Co. Ltd. purchased a new position in shares of SBA Communications Co. (NASDAQ:SBAC) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 252 shares of the technology company’s stock, valued at approximately $49,000.

A number of other large investors have also modified their holdings of the business. Choreo LLC purchased a new stake in shares of SBA Communications during the second quarter worth about $635,000. Prudential PLC grew its stake in shares of SBA Communications by 38.5% during the second quarter. Prudential PLC now owns 106,891 shares of the technology company’s stock worth $20,983,000 after acquiring an additional 29,738 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of SBA Communications during the second quarter worth about $60,000. Quest Partners LLC grew its stake in shares of SBA Communications by 53.0% during the second quarter. Quest Partners LLC now owns 7,395 shares of the technology company’s stock worth $1,452,000 after acquiring an additional 2,561 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in shares of SBA Communications during the second quarter worth about $656,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Insider Transactions at SBA Communications

In other news, Director George R. Krouse, Jr. sold 325 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total transaction of $71,363.50. Following the completion of the transaction, the director now directly owns 8,084 shares of the company’s stock, valued at approximately $1,775,084.72. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Chairman Jeffrey Stoops sold 49,765 shares of the stock in a transaction on Thursday, August 1st. The stock was 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 approximately $24,328,521.83. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director George R. Krouse, Jr. sold 325 shares of the stock in a transaction on 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 directly owns 8,084 shares of the company’s stock, valued at $1,775,084.72. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

SBA Communications Trading Up 1.1 %

SBA Communications stock opened at $242.53 on Wednesday. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $258.76. The stock’s 50 day simple moving average is $217.13 and its two-hundred day simple moving average is $207.38. The firm has a market cap of $26.06 billion, a PE ratio of 47.55, a P/E/G ratio of 0.73 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC) last announced 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). The business had revenue of $660.50 million for the quarter, compared to analyst estimates of $665.21 million. SBA Communications had a negative return on equity of 9.85% and a net margin of 19.22%. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $3.24 earnings per share. On average, equities research analysts forecast that SBA Communications Co. will post 12.53 EPS for the current year.

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Thursday, August 22nd will be paid a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 1.62%. The ex-dividend date is Thursday, August 22nd. SBA Communications’s payout ratio is 76.86%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SBAC. Royal Bank of Canada boosted their price target on SBA Communications from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Wells Fargo & Company lowered SBA Communications from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $230.00 to $220.00 in a research report on Monday, July 15th. BMO Capital Markets dropped their target price 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. StockNews.com lowered SBA Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on SBA Communications from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, SBA Communications has an average rating of “Moderate Buy” and a consensus target price of $237.92.

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.