Daiwa Securities Group Inc. Purchases 2,758 Shares of SBA Communications Co. (NASDAQ:SBAC)

Daiwa Securities Group Inc. grew its position in SBA Communications Co. (NASDAQ:SBAC) by 14.3% in the second quarter, HoldingsChannel.com reports. The fund owned 21,995 shares of the technology company’s stock after buying an additional 2,758 shares during the period. Daiwa Securities Group Inc.’s holdings in SBA Communications were worth $4,318,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Ridgewood Investments LLC bought a new position in SBA Communications during the second quarter worth about $32,000. Family Firm Inc. bought a new position in shares of SBA Communications during the 2nd quarter worth approximately $36,000. Quarry LP increased its holdings in shares of SBA Communications by 400.0% during the 4th quarter. Quarry LP now owns 165 shares of the technology company’s stock worth $42,000 after acquiring an additional 132 shares during the last quarter. Global X Japan Co. Ltd. bought a new stake in SBA Communications in the 2nd quarter valued at $49,000. Finally, Versant Capital Management Inc lifted its holdings in SBA Communications by 4,500.0% during the 2nd quarter. Versant Capital Management Inc now owns 276 shares of the technology company’s stock valued at $54,000 after purchasing an additional 270 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Stock Performance

SBAC opened at $239.85 on Friday. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $258.76. The firm has a market cap of $25.78 billion, a P/E ratio of 47.03, a price-to-earnings-growth ratio of 0.73 and a beta of 0.67. The business’s fifty day moving average is $219.07 and its 200-day moving average is $207.85.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Monday, July 29th. The technology company reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.56). The firm 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.24 earnings per share. On average, research analysts predict that SBA Communications Co. will post 12.53 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Thursday, August 22nd will be given a dividend of $0.98 per share. The ex-dividend date is Thursday, August 22nd. This represents a $3.92 annualized dividend and a yield of 1.63%. SBA Communications’s dividend payout ratio is currently 76.86%.

Wall Street Analysts Forecast Growth

SBAC has been the topic of several research reports. Deutsche Bank Aktiengesellschaft upped their price objective 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. StockNews.com cut shares of SBA Communications from a “buy” rating to a “hold” rating in a report on Thursday. Royal Bank of Canada boosted their price objective on SBA Communications from $235.00 to $245.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. BMO Capital Markets reduced their price target on SBA Communications from $250.00 to $245.00 and set an “outperform” rating for the company in a research note on Tuesday, July 30th. Finally, Barclays lowered their price objective on SBA Communications from $240.00 to $236.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 30th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, SBA Communications presently has an average rating of “Moderate Buy” and an average target price of $237.92.

Insiders Place Their Bets

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

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.