Royal London Asset Management Ltd. Acquires 4,923 Shares of SBA Communications Co. (NASDAQ:SBAC)

Royal London Asset Management Ltd. lifted its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 9.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 56,443 shares of the technology company’s stock after purchasing an additional 4,923 shares during the quarter. Royal London Asset Management Ltd. owned 0.05% of SBA Communications worth $11,080,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SBAC. Oregon Public Employees Retirement Fund increased its stake in SBA Communications by 0.6% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 9,265 shares of the technology company’s stock worth $1,819,000 after acquiring an additional 53 shares during the period. Ballentine Partners LLC raised its stake in SBA Communications by 2.7% in the first quarter. Ballentine Partners LLC now owns 2,068 shares of the technology company’s stock valued at $448,000 after purchasing an additional 55 shares in the last quarter. Checchi Capital Advisers LLC lifted its position in SBA Communications by 4.1% during the second quarter. Checchi Capital Advisers LLC now owns 1,457 shares of the technology company’s stock worth $286,000 after purchasing an additional 57 shares during the period. Industrial Alliance Investment Management Inc. grew its stake in SBA Communications by 3.9% during the first quarter. Industrial Alliance Investment Management Inc. now owns 1,560 shares of the technology company’s stock worth $338,000 after buying an additional 58 shares in the last quarter. Finally, Warwick Investment Management Inc. grew its stake in SBA Communications by 6.1% during the fourth quarter. Warwick Investment Management Inc. now owns 1,061 shares of the technology company’s stock worth $269,000 after buying an additional 61 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wells Fargo & Company downgraded shares of SBA Communications from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $230.00 to $220.00 in a report on Monday, July 15th. Barclays decreased their price target on SBA Communications from $240.00 to $236.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 30th. KeyCorp upped their price objective on SBA Communications from $227.00 to $230.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Royal Bank of Canada lifted their target price on SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Finally, The Goldman Sachs Group initiated coverage on shares of SBA Communications in a report on Monday, July 1st. They issued a “neutral” rating and a $212.00 target price for the company. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $237.92.

SBA Communications Trading Down 0.8 %

Shares of SBAC opened at $239.85 on Friday. The company has a market capitalization of $25.78 billion, a PE ratio of 47.03, a PEG ratio of 0.73 and a beta of 0.67. The stock’s 50-day moving average price is $219.07 and its two-hundred day moving average price is $207.85. 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 earnings results on Monday, July 29th. The technology company reported $1.51 EPS for the quarter, missing the consensus estimate of $2.07 by ($0.56). SBA Communications had a net margin of 19.22% and a negative return on equity of 9.85%. The company had revenue of $660.50 million during the quarter, compared to the consensus estimate of $665.21 million. During the same quarter in the previous year, the company earned $3.24 earnings per share. The business’s revenue was down 2.7% on a year-over-year basis. Equities research analysts predict that SBA Communications Co. will post 12.53 EPS for the current fiscal year.

SBA Communications Dividend Announcement

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

Insider Buying and Selling at SBA Communications

In other news, Director George R. Krouse, Jr. sold 325 shares of the business’s stock in a transaction dated 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 approximately $1,775,084.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Jeffrey Stoops sold 49,765 shares of SBA Communications stock in a transaction on 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 sale, the chairman now owns 109,583 shares in the company, valued at approximately $24,328,521.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director George R. Krouse, Jr. sold 325 shares of the stock in a transaction 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 transaction, the director now directly owns 8,084 shares in the company, valued at $1,775,084.72. 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.