SBA Communications Co. (NASDAQ:SBAC) Shares Acquired by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. lifted its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 23.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,777 shares of the technology company’s stock after buying an additional 536 shares during the period. Harbor Capital Advisors Inc.’s holdings in SBA Communications were worth $668,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake 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 valued at $3,763,691,000 after purchasing an additional 88,339 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its position in SBA Communications by 13.4% in 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 during the last quarter. American Century Companies Inc. increased its holdings in SBA Communications by 15.5% in the 2nd quarter. American Century Companies Inc. now owns 1,190,288 shares of the technology company’s stock worth $233,654,000 after buying an additional 159,433 shares during the period. Price T Rowe Associates Inc. MD raised its position in SBA Communications by 3.5% during 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 buying an additional 33,507 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its stake 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 valued at $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.

Insiders Place Their Bets

In other news, Director George R. Krouse, Jr. sold 325 shares of the 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 directly owns 8,084 shares in the company, valued at $1,775,084.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other SBA Communications news, EVP Donald Day sold 1,500 shares of the business’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 owns 4,998 shares of the company’s stock, valued at approximately $1,213,814.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 directly 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 disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of SBA Communications from $220.00 to $240.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft boosted their price objective on SBA Communications from $230.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Royal Bank of Canada raised their target price on SBA Communications from $235.00 to $245.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Morgan Stanley boosted their price target on SBA Communications from $232.00 to $252.00 and gave the company an “overweight” rating in a report on Wednesday, September 18th. Finally, The Goldman Sachs Group raised their price objective on shares of SBA Communications from $212.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $257.23.

SBA Communications Stock Down 4.2 %

Shares of NASDAQ SBAC opened at $218.75 on Thursday. The firm has a market cap of $23.51 billion, a price-to-earnings ratio of 34.50, a price-to-earnings-growth ratio of 0.68 and a beta of 0.68. The company’s 50-day simple moving average is $237.80 and its 200-day simple moving average is $215.20. SBA Communications Co. has a 52-week low of $183.64 and a 52-week 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 (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.77). SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The firm had revenue of $667.60 million during the quarter, compared to analyst estimates of $669.29 million. During the same quarter in the previous year, the firm posted $3.34 earnings per share. The company’s quarterly revenue was down 2.2% on a year-over-year basis. Equities research analysts anticipate that SBA Communications Co. will post 12.56 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 14th will be issued a $0.98 dividend. The ex-dividend date is Thursday, November 14th. This represents a $3.92 dividend on an annualized basis and a yield of 1.79%. SBA Communications’s payout ratio is currently 61.83%.

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.