New Century Financial Group LLC Acquires Shares of 1,010 SBA Communications Co. (NASDAQ:SBAC)

New Century Financial Group LLC bought a new position in SBA Communications Co. (NASDAQ:SBAC) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,010 shares of the technology company’s stock, valued at approximately $243,000.

Several other institutional investors have also made changes to their positions in SBAC. Vanguard Group Inc. grew its position in SBA Communications by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 17,368,209 shares of the technology company’s stock worth $3,763,691,000 after purchasing an additional 88,339 shares in the last quarter. Diamond Hill Capital Management Inc. grew its holdings in shares of SBA Communications by 13.4% during the second quarter. Diamond Hill Capital Management Inc. now owns 1,973,867 shares of the technology company’s stock valued at $387,470,000 after buying an additional 233,179 shares in the last quarter. American Century Companies Inc. raised its position in SBA Communications by 15.5% during the second quarter. American Century Companies Inc. now owns 1,190,288 shares of the technology company’s stock valued at $233,654,000 after buying an additional 159,433 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in SBA Communications by 3.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 986,487 shares of the technology company’s stock worth $213,773,000 after acquiring an additional 33,507 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its position in SBA Communications by 34.7% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 792,147 shares of the technology company’s stock worth $155,498,000 after acquiring an additional 203,938 shares during the period. 97.35% of the stock is owned by hedge funds and other institutional investors.

SBA Communications Stock Down 1.6 %

Shares of SBA Communications stock opened at $243.47 on Tuesday. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $258.76. The stock has a market capitalization of $26.17 billion, a P/E ratio of 51.37, a PEG ratio of 0.75 and a beta of 0.67. The stock has a 50 day moving average price of $234.77 and a two-hundred day moving average price of $212.71.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, July 29th. The technology company reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $660.50 million during the quarter, compared to analyst estimates of $665.21 million. During the same quarter in the previous year, the business posted $3.24 earnings per share. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. Sell-side analysts anticipate that SBA Communications Co. will post 12.52 earnings per share for the current year.

SBA Communications Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders 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 annualized dividend and a yield of 1.61%. SBA Communications’s dividend payout ratio (DPR) is 82.70%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. 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 report on Tuesday, July 30th. Wells Fargo & Company upped their price objective on shares of SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. TD Cowen decreased their target price on shares of SBA Communications from $253.00 to $251.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. KeyCorp upped their price target on shares of SBA Communications from $230.00 to $280.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, The Goldman Sachs Group lifted their price objective on SBA Communications from $212.00 to $240.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $251.58.

Insider Activity at SBA Communications

In related news, Director George R. Krouse, Jr. sold 325 shares of the business’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 sale, the director now owns 8,084 shares of the company’s stock, valued at $1,775,084.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Donald Day sold 1,500 shares of SBA Communications 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 transaction, the executive vice president now owns 4,998 shares of the company’s stock, valued at $1,213,814.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director George R. Krouse, Jr. sold 325 shares of the business’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 transaction, the director now directly owns 8,084 shares of the company’s stock, valued at approximately $1,775,084.72. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,590 shares of company stock worth $11,483,981. 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.