SBA Communications Co. (NASDAQ:SBAC) Shares Bought by Mill Creek Capital Advisors LLC

Mill Creek Capital Advisors LLC grew its stake in SBA Communications Co. (NASDAQ:SBAC) by 5.1% during the 2nd quarter, Holdings Channel reports. The firm owned 2,213 shares of the technology company’s stock after purchasing an additional 107 shares during the quarter. Mill Creek Capital Advisors LLC’s holdings in SBA Communications were worth $434,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Oregon Public Employees Retirement Fund boosted its holdings in SBA Communications by 0.6% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 9,265 shares of the technology company’s stock worth $1,819,000 after buying an additional 53 shares during the last quarter. Ballentine Partners LLC boosted its stake in shares of SBA Communications by 2.7% in the first quarter. Ballentine Partners LLC now owns 2,068 shares of the technology company’s stock worth $448,000 after acquiring an additional 55 shares during the last quarter. Checchi Capital Advisers LLC increased its position in shares of 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 in the last quarter. Industrial Alliance Investment Management Inc. raised its stake in SBA Communications by 3.9% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 1,560 shares of the technology company’s stock valued at $338,000 after purchasing an additional 58 shares during the last quarter. Finally, Warwick Investment Management Inc. lifted its holdings in SBA Communications by 6.1% in the 4th quarter. Warwick Investment Management Inc. now owns 1,061 shares of the technology company’s stock valued at $269,000 after purchasing an additional 61 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Up 0.6 %

Shares of NASDAQ SBAC opened at $241.98 on Wednesday. The business’s 50 day moving average is $225.31 and its two-hundred day moving average is $209.47. 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 $26.01 billion, a price-to-earnings ratio of 47.45, a PEG ratio of 0.73 and a beta of 0.67.

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

SBA Communications Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Thursday, August 22nd were issued a $0.98 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $3.92 dividend on an annualized basis and a yield of 1.62%. SBA Communications’s dividend payout ratio (DPR) is presently 76.86%.

Wall Street Analyst Weigh In

SBAC has been the subject of a number of recent research reports. StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a research report on Friday, September 20th. Barclays decreased their target price on shares of SBA Communications from $240.00 to $236.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 30th. Morgan Stanley raised their target price on SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 18th. KeyCorp upped their price objective on shares of SBA Communications from $227.00 to $230.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Finally, Royal Bank of Canada lifted their target price on shares of SBA Communications from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $241.75.

Insider Buying and Selling

In other SBA Communications news, EVP Donald Day sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $242.86, for a total transaction of $364,290.00. Following the completion of the transaction, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,213,814.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other SBA Communications news, EVP Donald Day sold 1,500 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $242.86, for a total value of $364,290.00. Following the sale, the executive vice president now directly owns 4,998 shares in the company, valued at $1,213,814.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director George R. Krouse, Jr. sold 325 shares of the company’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 $1,775,084.72. The disclosure for this sale can be found here. Insiders sold 51,590 shares of company stock valued at $11,483,981 in the last three months. 1.30% of the stock is owned by corporate 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.