Park Place Capital Corp Buys 1,677 Shares of SBA Communications Co. (NASDAQ:SBAC)

Park Place Capital Corp increased its stake in SBA Communications Co. (NASDAQ:SBAC) by 247.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,356 shares of the technology company’s stock after buying an additional 1,677 shares during the quarter. Park Place Capital Corp’s holdings in SBA Communications were worth $480,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Victory Capital Management Inc. lifted its holdings in SBA Communications by 2,821.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company’s stock valued at $292,714,000 after purchasing an additional 1,174,469 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of SBA Communications by 377.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 886,384 shares of the technology company’s stock worth $213,353,000 after buying an additional 700,791 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of SBA Communications by 16.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock worth $1,024,049,000 after buying an additional 605,872 shares during the last quarter. Long Pond Capital LP acquired a new stake in shares of SBA Communications during the 2nd quarter worth about $83,687,000. Finally, AQR Capital Management LLC lifted its position in SBA Communications by 500.0% during the second quarter. AQR Capital Management LLC now owns 369,037 shares of the technology company’s stock worth $72,375,000 after acquiring an additional 307,530 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Mark R. Ciarfella sold 3,545 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the completion of the sale, the executive vice president now owns 33,588 shares of the company’s stock, valued at approximately $7,534,796.04. The trade was a 9.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Donald Day sold 2,321 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $203.43, for a total value of $472,161.03. Following the completion of the sale, the executive vice president now owns 4,998 shares of the company’s stock, valued at $1,016,743.14. The trade was a 31.71 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SBAC. 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. StockNews.com cut shares of SBA Communications from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. TD Cowen lifted their price target 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. 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 note on Thursday, September 26th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, SBA Communications has a consensus rating of “Moderate Buy” and an average price target of $254.77.

SBA Communications Stock Performance

NASDAQ:SBAC opened at $200.55 on Wednesday. The firm has a market capitalization of $21.56 billion, a price-to-earnings ratio of 31.65, a P/E/G ratio of 0.73 and a beta of 0.69. The stock has a fifty day moving average of $210.67 and a 200 day moving average of $221.77. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $252.64.

SBA Communications (NASDAQ:SBAC) last announced its earnings results 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 net margin of 25.76% and a negative return on equity of 13.13%. The company 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 firm earned $3.34 earnings per share. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. Equities analysts forecast that SBA Communications Co. will post 12.57 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 14th were paid a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 1.95%. The ex-dividend date of this dividend was Thursday, November 14th. SBA Communications’s dividend payout ratio (DPR) is currently 61.83%.

About SBA Communications

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.