Swedbank AB Buys 410 Shares of SBA Communications Co. (NASDAQ:SBAC)

Swedbank AB grew its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 0.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 79,661 shares of the technology company’s stock after acquiring an additional 410 shares during the quarter. Swedbank AB owned about 0.07% of SBA Communications worth $19,174,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of SBAC. Ridgewood Investments LLC purchased a new stake in shares of SBA Communications during the second quarter valued at $32,000. Family Firm Inc. purchased a new stake in shares of SBA Communications during the second quarter valued at $36,000. Global X Japan Co. Ltd. purchased a new stake in shares of SBA Communications during the second quarter valued at $49,000. Versant Capital Management Inc boosted its position in shares of SBA Communications by 4,500.0% during the second quarter. Versant Capital Management Inc now owns 276 shares of the technology company’s stock valued at $54,000 after buying an additional 270 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of SBA Communications during the second quarter valued at $60,000. 97.35% of the stock is owned by hedge funds and other institutional investors.

SBA Communications Stock Down 0.2 %

SBAC stock opened at $248.75 on Thursday. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $258.76. The stock has a market cap of $26.73 billion, a P/E ratio of 48.77, a PEG ratio of 0.70 and a beta of 0.67. The business’s 50-day moving average price is $232.92 and its 200-day moving average price is $212.04.

SBA Communications (NASDAQ:SBAC) last issued its earnings results 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 business had revenue of $660.50 million for the quarter, compared to the consensus estimate of $665.21 million. SBA Communications had a net margin of 19.22% and a negative return on equity of 9.85%. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period last year, the business posted $3.24 EPS. On average, equities research analysts expect that SBA Communications Co. will post 12.52 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Thursday, August 22nd were paid a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend was Thursday, August 22nd. SBA Communications’s dividend payout ratio (DPR) is presently 76.86%.

Insider Activity at SBA Communications

In related news, Chairman Jeffrey Stoops sold 49,765 shares of SBA Communications stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the sale, the chairman now owns 109,583 shares of the company’s stock, valued at approximately $24,328,521.83. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Chairman Jeffrey Stoops sold 49,765 shares of SBA Communications stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the sale, the chairman now owns 109,583 shares of the company’s stock, valued at approximately $24,328,521.83. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director George R. Krouse, Jr. sold 325 shares of SBA Communications stock in a transaction that occurred 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 directly owns 8,084 shares in the company, valued at approximately $1,775,084.72. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,590 shares of company stock valued at $11,483,981. 1.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on SBAC shares. Deutsche Bank Aktiengesellschaft increased their price objective on SBA Communications from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Wells Fargo & Company raised their target price on SBA Communications from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. BMO Capital Markets dropped their target price on SBA Communications from $250.00 to $245.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 30th. Barclays raised their target price on SBA Communications from $236.00 to $256.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a research report on Friday, September 20th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $251.58.

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.