Gulf International Bank UK Ltd Has $2.06 Million Position in SBA Communications Co. (NASDAQ:SBAC)

Gulf International Bank UK Ltd cut its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 4.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,553 shares of the technology company’s stock after selling 419 shares during the period. Gulf International Bank UK Ltd’s holdings in SBA Communications were worth $2,058,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of SBAC. Mirae Asset Global Investments Co. Ltd. raised its stake in SBA Communications by 5.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,603 shares of the technology company’s stock valued at $5,982,000 after buying an additional 1,309 shares during the period. Janney Montgomery Scott LLC lifted its holdings in SBA Communications by 72.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 2,389 shares of the technology company’s stock valued at $518,000 after purchasing an additional 1,004 shares during the last quarter. Central Pacific Bank Trust Division bought a new position in SBA Communications during the first quarter worth $125,000. BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of SBA Communications by 14.6% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 5,112 shares of the technology company’s stock valued at $1,108,000 after purchasing an additional 650 shares during the last quarter. Finally, Texas Permanent School Fund Corp raised its position in shares of SBA Communications by 1.2% in the first quarter. Texas Permanent School Fund Corp now owns 22,273 shares of the technology company’s stock valued at $4,827,000 after purchasing an additional 266 shares during the period. 97.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Morgan Stanley lifted their target price on shares of SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a report on Wednesday, September 18th. KeyCorp upped their target price on SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Wells Fargo & Company lifted their price target on SBA Communications from $220.00 to $240.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. upped their price objective on SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Finally, The Goldman Sachs Group lifted their target price on SBA Communications from $212.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $257.23.

Insiders Place Their Bets

In related news, Director George R. Krouse, Jr. sold 325 shares of SBA Communications stock in a transaction that occurred on Wednesday, August 21st. The shares were 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 approximately $1,775,084.72. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director George R. Krouse, Jr. sold 325 shares of the 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 transaction, the director now directly owns 8,084 shares in the company, valued at approximately $1,775,084.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $364,290.00. Following the sale, the executive vice president now owns 4,998 shares in the company, valued at $1,213,814.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

SBA Communications Trading Down 4.2 %

Shares of NASDAQ:SBAC opened at $218.75 on Thursday. The stock has a market capitalization of $23.51 billion, a PE ratio of 34.50, a PEG ratio of 0.68 and a beta of 0.68. The firm has a 50 day moving average of $237.80 and a 200-day moving average of $215.20. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $258.76.

SBA Communications (NASDAQ:SBAC) last released its earnings results 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). SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The business had revenue of $667.60 million for the quarter, compared to the consensus estimate of $669.29 million. During the same quarter in the previous year, the company earned $3.34 earnings per share. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. On average, research analysts predict that SBA Communications Co. will post 12.56 EPS for the current fiscal year.

SBA Communications Announces Dividend

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

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.