SBA Communications Co. (NASDAQ:SBAC) Shares Purchased by Swedbank AB

Swedbank AB raised its stake in SBA Communications Co. (NASDAQ:SBAC) by 0.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 79,661 shares of the technology company’s stock after purchasing an additional 410 shares during the quarter. Swedbank AB owned about 0.07% of SBA Communications worth $19,174,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in SBAC. Virtu Financial LLC acquired a new position in SBA Communications in the first quarter valued at $1,764,000. Tidal Investments LLC lifted its stake in shares of SBA Communications by 105.4% in the 1st quarter. Tidal Investments LLC now owns 5,279 shares of the technology company’s stock valued at $1,144,000 after purchasing an additional 2,709 shares in the last quarter. AMF Tjanstepension AB acquired a new position in shares of SBA Communications in the 2nd quarter valued at about $8,197,000. Cetera Investment Advisers grew its holdings in shares of SBA Communications by 228.1% during the 1st quarter. Cetera Investment Advisers now owns 10,394 shares of the technology company’s stock worth $2,252,000 after purchasing an additional 7,226 shares during the period. Finally, Manning & Napier Advisors LLC acquired a new stake in SBA Communications during the 2nd quarter worth approximately $12,918,000. 97.35% of the stock is owned by hedge funds and other institutional investors.

SBA Communications Price Performance

SBAC opened at $225.98 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 $24.30 billion, a PE ratio of 35.64, a P/E/G ratio of 0.75 and a beta of 0.68. The firm’s fifty day moving average price is $233.84 and its 200 day moving average price is $217.65.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). The company 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 business’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter last year, the company posted $3.34 EPS. On average, equities research analysts forecast that SBA Communications Co. will post 12.56 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th will be issued a $0.98 dividend. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.73%. SBA Communications’s dividend payout ratio (DPR) is 61.83%.

Insider Activity

In other news, EVP Donald Day sold 1,500 shares of SBA Communications stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $242.86, for a total value of $364,290.00. Following the completion of the transaction, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at approximately $1,213,814.28. The trade was a 23.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

SBAC has been the subject of several recent research reports. The Goldman Sachs Group increased their price objective on shares of SBA Communications from $212.00 to $240.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft boosted their price objective on SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Barclays increased their target price on SBA Communications from $236.00 to $256.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. Finally, TD Cowen increased their price objective on shares of SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Three 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 company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $257.23.

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.