Healthcare of Ontario Pension Plan Trust Fund Has $10.97 Million Stock Position in SBA Communications Co. (NASDAQ:SBAC)

Healthcare of Ontario Pension Plan Trust Fund lessened its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 46.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,900 shares of the technology company’s stock after selling 48,674 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.05% of SBA Communications worth $10,973,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in SBAC. Sanctuary Advisors LLC bought a new stake in SBA Communications in the 2nd quarter valued at about $932,000. Clear Rock Advisors LLC boosted its stake in shares of SBA Communications by 13.8% in the second quarter. Clear Rock Advisors LLC now owns 9,043 shares of the technology company’s stock valued at $1,775,000 after buying an additional 1,099 shares during the period. Long Pond Capital LP acquired a new stake in SBA Communications during the second quarter worth approximately $83,687,000. The Manufacturers Life Insurance Company increased its stake in SBA Communications by 3.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 85,515 shares of the technology company’s stock worth $16,787,000 after acquiring an additional 2,999 shares during the period. Finally, MBB Public Markets I LLC acquired a new position in SBA Communications in the 2nd quarter valued at $1,702,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Price Performance

SBAC stock opened at $235.37 on Friday. The company’s 50-day moving average is $229.97 and its 200-day moving average is $210.77. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $258.76. The stock has a market capitalization of $25.29 billion, a PE ratio of 46.15, a price-to-earnings-growth ratio of 0.72 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 for the quarter, missing the consensus estimate 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 quarter last year, the business posted $3.24 earnings per share. SBA Communications’s revenue was down 2.7% on a year-over-year basis. On average, analysts anticipate that SBA Communications Co. will post 12.52 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Thursday, August 22nd were paid a $0.98 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $3.92 annualized dividend and a yield of 1.67%. SBA Communications’s dividend payout ratio (DPR) is 76.86%.

Insiders Place Their Bets

In related news, EVP Donald Day sold 1,500 shares of the 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 sale, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at approximately $1,213,814.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Donald Day sold 1,500 shares of the stock in a transaction dated 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 owns 4,998 shares in the company, valued at approximately $1,213,814.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $11,048,327.65. Following the completion of the sale, the chairman now directly owns 109,583 shares in the company, valued at approximately $24,328,521.83. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 51,590 shares of company stock valued at $11,483,981 in the last 90 days. 1.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

SBAC has been the subject of several recent analyst reports. TD Cowen cut their price objective on shares of SBA Communications from $253.00 to $251.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. BMO Capital Markets decreased their price objective on shares of SBA Communications from $250.00 to $245.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. The Goldman Sachs Group upped their target price on SBA Communications from $212.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Deutsche Bank Aktiengesellschaft raised their target price on SBA Communications from $230.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Finally, Morgan Stanley upped their price objective on SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $244.08.

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.