SBA Communications Co. (NASDAQ:SBAC) Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp grew its position in SBA Communications Co. (NASDAQ:SBAC) by 12.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 25,644 shares of the technology company’s stock after purchasing an additional 2,905 shares during the period. Van ECK Associates Corp’s holdings in SBA Communications were worth $6,249,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. raised its position in SBA Communications by 10.7% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 527 shares of the technology company’s stock worth $127,000 after buying an additional 51 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of SBA Communications by 0.6% during the second quarter. Oregon Public Employees Retirement Fund now owns 9,265 shares of the technology company’s stock worth $1,819,000 after purchasing an additional 53 shares during the last quarter. Farther Finance Advisors LLC lifted its position in SBA Communications by 32.5% during the third quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock valued at $52,000 after purchasing an additional 53 shares during the period. Checchi Capital Advisers LLC boosted its holdings in SBA Communications by 4.1% in the second quarter. Checchi Capital Advisers LLC now owns 1,457 shares of the technology company’s stock valued at $286,000 after purchasing an additional 57 shares during the last quarter. Finally, Industrial Alliance Investment Management Inc. grew its position in SBA Communications by 3.9% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 1,560 shares of the technology company’s stock worth $338,000 after purchasing an additional 58 shares during the period. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at SBA Communications

In other 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 transaction of $364,290.00. Following the transaction, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at approximately $1,213,814.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director George R. Krouse, Jr. sold 325 shares of the firm’s 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 completion of the sale, the director now owns 8,084 shares of the company’s stock, valued at $1,775,084.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Donald Day sold 1,500 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,213,814.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on SBAC. Morgan Stanley boosted their price objective on SBA Communications from $232.00 to $252.00 and gave the company an “overweight” rating in a report on Wednesday, September 18th. Barclays raised their price objective on shares of SBA Communications from $236.00 to $256.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. StockNews.com upgraded SBA Communications from a “hold” rating to a “buy” rating in a research report on Thursday. Royal Bank of Canada boosted their price target on shares of SBA Communications from $235.00 to $245.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Finally, BMO Capital Markets increased their target price on SBA Communications from $255.00 to $260.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, SBA Communications has an average rating of “Moderate Buy” and a consensus price target of $257.23.

SBA Communications Stock Performance

Shares of NASDAQ:SBAC opened at $221.58 on Friday. The stock has a market capitalization of $23.81 billion, a P/E ratio of 34.95, a PEG ratio of 0.68 and a beta of 0.68. The stock has a 50-day simple moving average of $237.80 and a 200-day simple moving average of $215.20. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $258.76.

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

SBA Communications Announces Dividend

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

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.