Asset Management One Co. Ltd. Buys 1,806 Shares of SBA Communications Co. (NASDAQ:SBAC)

Asset Management One Co. Ltd. boosted its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 4.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 41,244 shares of the technology company’s stock after purchasing an additional 1,806 shares during the quarter. Asset Management One Co. Ltd.’s holdings in SBA Communications were worth $9,927,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in SBAC. Ridgewood Investments LLC bought a new position in shares of SBA Communications during the 2nd quarter worth approximately $32,000. Family Firm Inc. acquired a new stake in shares of SBA Communications in the 2nd quarter valued at $36,000. Friedenthal Financial acquired a new stake in shares of SBA Communications in the 3rd quarter valued at $50,000. Farther Finance Advisors LLC grew its stake in shares of SBA Communications by 32.5% during the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock worth $52,000 after purchasing an additional 53 shares during the period. Finally, Eastern Bank acquired a new position in SBA Communications in the third quarter valued at about $58,000. Institutional investors own 97.35% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SBAC. Deutsche Bank Aktiengesellschaft boosted their price target on SBA Communications from $230.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. BMO Capital Markets upped their target price on SBA Communications from $255.00 to $260.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. StockNews.com upgraded SBA Communications from a “hold” rating to a “buy” rating in a research note on Thursday. TD Cowen upped their target price on SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Finally, The Goldman Sachs Group increased their price target on SBA Communications from $212.00 to $240.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $257.23.

SBA Communications Stock Performance

Shares of SBAC opened at $221.58 on Friday. The stock has a market capitalization of $23.81 billion, a price-to-earnings ratio of 34.95, a PEG ratio of 0.68 and a beta of 0.68. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $258.76. The stock has a fifty day moving average of $237.80 and a 200-day moving average of $215.20.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.77). The company had revenue of $667.60 million for the quarter, compared to the consensus estimate of $669.29 million. SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the prior year, the business earned $3.34 earnings per share. As a group, equities analysts forecast that SBA Communications Co. will post 12.56 EPS for the current year.

SBA Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 14th will be given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Thursday, November 14th. SBA Communications’s dividend payout ratio is currently 61.83%.

Insiders Place Their Bets

In other SBA Communications news, EVP Donald Day sold 1,500 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $242.86, for a total transaction of $364,290.00. Following the completion of the sale, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,213,814.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Donald Day sold 1,500 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $242.86, for a total value of $364,290.00. Following the completion of the sale, the executive vice president now directly owns 4,998 shares in the company, valued at $1,213,814.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director George R. Krouse, Jr. sold 325 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 8,084 shares of the company’s stock, valued at approximately $1,775,084.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

SBA Communications 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.