DekaBank Deutsche Girozentrale Has $5.17 Million Position in SBA Communications Co. (NASDAQ:SBAC)

DekaBank Deutsche Girozentrale boosted its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 13.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,380 shares of the technology company’s stock after purchasing an additional 3,114 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in SBA Communications were worth $5,165,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund boosted its position in SBA Communications by 0.6% during the second quarter. Oregon Public Employees Retirement Fund now owns 9,265 shares of the technology company’s stock worth $1,819,000 after purchasing an additional 53 shares during the period. Ballentine Partners LLC boosted its position in SBA Communications by 2.7% during the first quarter. Ballentine Partners LLC now owns 2,068 shares of the technology company’s stock worth $448,000 after purchasing an additional 55 shares during the period. Checchi Capital Advisers LLC boosted its position in SBA Communications by 4.1% during the second quarter. Checchi Capital Advisers LLC now owns 1,457 shares of the technology company’s stock worth $286,000 after purchasing an additional 57 shares during the period. Industrial Alliance Investment Management Inc. boosted its position in SBA Communications by 3.9% during the first quarter. Industrial Alliance Investment Management Inc. now owns 1,560 shares of the technology company’s stock worth $338,000 after purchasing an additional 58 shares during the period. Finally, Warwick Investment Management Inc. boosted its position in SBA Communications by 6.1% during the fourth quarter. Warwick Investment Management Inc. now owns 1,061 shares of the technology company’s stock worth $269,000 after purchasing an additional 61 shares during the period. Institutional investors own 97.35% of the company’s stock.

SBA Communications Price Performance

SBAC opened at $245.00 on Wednesday. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $258.76. The firm’s fifty day moving average price is $222.13 and its two-hundred day moving average price is $208.68. The company has a market capitalization of $26.32 billion, a P/E ratio of 48.04, a P/E/G ratio of 0.74 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, July 29th. The technology company reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.56). The company had revenue of $660.50 million for the quarter, compared to the consensus estimate of $665.21 million. SBA Communications had a net margin of 19.22% and a negative return on equity of 9.85%. The firm’s revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the business posted $3.24 earnings per share. On average, equities research analysts expect that SBA Communications Co. will post 12.53 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Thursday, August 22nd will be issued a dividend of $0.98 per share. The ex-dividend date is Thursday, August 22nd. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.60%. SBA Communications’s payout ratio is presently 76.86%.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, Chairman Jeffrey Stoops sold 49,765 shares of SBA Communications stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the completion of the transaction, the chairman now directly owns 109,583 shares of the company’s stock, valued at $24,328,521.83. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Chairman Jeffrey Stoops sold 49,765 shares of SBA Communications stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $222.01, for a total value of $11,048,327.65. Following the completion of the transaction, the chairman now directly owns 109,583 shares of the company’s stock, valued at $24,328,521.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director George R. Krouse, Jr. sold 325 shares of SBA Communications 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 transaction, the director now directly owns 8,084 shares of the company’s stock, valued at $1,775,084.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 51,590 shares of company stock valued at $11,483,981. 1.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SBAC has been the topic of several research analyst reports. The Goldman Sachs Group initiated coverage on shares of SBA Communications in a research note on Monday, July 1st. They issued a “neutral” rating and a $212.00 price objective on the stock. Wells Fargo & Company downgraded shares of SBA Communications from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $230.00 to $220.00 in a research note on Monday, July 15th. Barclays lowered their price objective on shares of SBA Communications from $240.00 to $236.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 30th. Royal Bank of Canada raised their price objective on shares of SBA Communications from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Finally, TD Cowen lowered their price objective on shares of SBA Communications from $253.00 to $251.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, SBA Communications has a consensus rating of “Moderate Buy” and an average target price of $237.92.

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.