Tredje AP fonden Has $3.35 Million Stake in SBA Communications Co. (NASDAQ:SBAC)

Tredje AP fonden decreased its position in SBA Communications Co. (NASDAQ:SBAC) by 1.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,059 shares of the technology company’s stock after selling 265 shares during the period. Tredje AP fonden’s holdings in SBA Communications were worth $3,349,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. SG Americas Securities LLC raised its holdings in shares of SBA Communications by 191.3% during the first quarter. SG Americas Securities LLC now owns 25,828 shares of the technology company’s stock valued at $5,597,000 after purchasing an additional 16,962 shares during the period. Franklin Resources Inc. raised its holdings in shares of SBA Communications by 2.8% during the fourth quarter. Franklin Resources Inc. now owns 707,743 shares of the technology company’s stock valued at $179,547,000 after purchasing an additional 19,462 shares during the period. Nomura Holdings Inc. acquired a new position in shares of SBA Communications during the fourth quarter valued at about $7,422,000. Wellington Management Group LLP raised its holdings in shares of SBA Communications by 596.2% during the fourth quarter. Wellington Management Group LLP now owns 225,128 shares of the technology company’s stock valued at $57,113,000 after purchasing an additional 192,791 shares during the period. Finally, Clear Rock Advisors LLC acquired a new position in shares of SBA Communications during the fourth quarter valued at about $1,900,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Insider Activity

In other news, EVP Donald Day sold 1,500 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $242.86, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Chairman Jeffrey Stoops sold 49,765 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were 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 approximately $24,328,521.83. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Donald Day sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $242.86, for a total transaction 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 $1,213,814.28. The disclosure for this sale can be found here. Insiders sold 51,590 shares of company stock valued at $11,483,981 in the last three months. Company insiders own 1.30% of the company’s stock.

SBA Communications Stock Performance

Shares of SBAC stock opened at $238.29 on Friday. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $258.76. The company has a 50-day simple moving average of $223.59 and a two-hundred day simple moving average of $209.10. The company has a market capitalization of $25.61 billion, a price-to-earnings ratio of 46.72, a PEG ratio of 0.75 and a beta of 0.67.

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

SBA Communications Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Thursday, August 22nd were given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date was Thursday, August 22nd. SBA Communications’s dividend payout ratio is currently 76.86%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SBAC shares. BMO Capital Markets dropped their price objective on shares of SBA Communications from $250.00 to $245.00 and set an “outperform” rating on the stock in a report on Tuesday, July 30th. StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a report on Friday. TD Cowen lowered their target price on shares of SBA Communications from $253.00 to $251.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Barclays lowered their target price on shares of SBA Communications from $240.00 to $236.00 and set an “overweight” rating on the stock in a report on Tuesday, July 30th. Finally, Morgan Stanley upped 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. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $240.00.

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.