Asset Management One Co. Ltd. Grows Position in SBA Communications Co. (NASDAQ:SBAC)

Asset Management One Co. Ltd. grew its position in SBA Communications Co. (NASDAQ:SBAC) by 4.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,244 shares of the technology company’s stock after buying an additional 1,806 shares during the quarter. Asset Management One Co. Ltd.’s holdings in SBA Communications were worth $9,927,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased 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. increased its position in SBA Communications by 13.4% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,973,867 shares of the technology company’s stock worth $387,470,000 after purchasing an additional 233,179 shares in the last quarter. American Century Companies Inc. increased its position in SBA Communications by 15.5% during the 2nd quarter. American Century Companies Inc. now owns 1,190,288 shares of the technology company’s stock worth $233,654,000 after purchasing an additional 159,433 shares in the last quarter. Price T Rowe Associates Inc. MD increased 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 purchasing an additional 33,507 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its stake in SBA Communications by 34.7% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 792,147 shares of the technology company’s stock worth $155,498,000 after buying an additional 203,938 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Performance

Shares of SBAC stock opened at $221.58 on Friday. The firm has a market capitalization of $23.81 billion, a PE ratio of 34.95, a price-to-earnings-growth ratio of 0.68 and a beta of 0.68. The stock has a fifty day moving average of $237.80 and a two-hundred day 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 announced its quarterly earnings data on Monday, October 28th. The technology company reported $2.40 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.77). The firm had revenue of $667.60 million during the quarter, compared to analyst estimates of $669.29 million. SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the company earned $3.34 EPS. Equities research analysts predict that SBA Communications Co. will post 12.56 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

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

Insider Transactions at SBA Communications

In other 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 transaction of $71,363.50. Following the sale, the director now directly owns 8,084 shares of the company’s stock, valued at $1,775,084.72. The trade was 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 available at this link. In related news, Director George R. Krouse, Jr. sold 325 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total transaction of $71,363.50. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Donald Day sold 1,500 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $242.86, for a total value of $364,290.00. Following the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at $1,213,814.28. The trade was 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 owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Barclays lifted their price objective on SBA Communications from $236.00 to $256.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Royal Bank of Canada lifted their price objective on SBA Communications from $235.00 to $245.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Wells Fargo & Company lifted their price objective on SBA Communications from $220.00 to $240.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. TD Cowen boosted their price target on SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. boosted their price target on SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Three equities research 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 stock. According to MarketBeat.com, SBA Communications presently has a consensus rating of “Moderate Buy” and a consensus price target of $257.23.

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.