Fmr LLC Increases Stake in SBA Communications Co. (NASDAQ:SBAC)

Fmr LLC boosted its stake in SBA Communications Co. (NASDAQ:SBAC) by 18.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 387,967 shares of the technology company’s stock after buying an additional 59,368 shares during the period. Fmr LLC owned 0.36% of SBA Communications worth $93,384,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Ashton Thomas Securities LLC bought a new stake in SBA Communications during the third quarter worth about $26,000. Capital Performance Advisors LLP bought a new stake in shares of SBA Communications in the 3rd quarter worth approximately $35,000. Ridgewood Investments LLC purchased a new stake in shares of SBA Communications in the 2nd quarter worth approximately $32,000. Family Firm Inc. bought a new position in SBA Communications during the 2nd quarter valued at approximately $36,000. Finally, Friedenthal Financial purchased a new position in SBA Communications during the third quarter valued at $50,000. 97.35% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other SBA Communications 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 transaction, the executive vice president now directly owns 4,998 shares in the company, valued at $1,213,814.28. This represents a 23.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

SBAC has been the subject of several recent analyst reports. Raymond James boosted their price target on SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 29th. BMO Capital Markets increased their price objective on shares of SBA Communications from $255.00 to $260.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. Morgan Stanley lifted their target price on shares of SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. TD Cowen increased their price target on SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Finally, Wells Fargo & Company lifted their price objective on SBA Communications from $220.00 to $240.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, SBA Communications currently has an average rating of “Moderate Buy” and a consensus price target of $257.23.

SBA Communications Trading Up 0.3 %

Shares of NASDAQ SBAC opened at $221.58 on Friday. The firm’s 50-day moving average price is $231.39 and its 200-day moving average price is $218.79. The stock has a market capitalization of $23.82 billion, a price-to-earnings ratio of 34.95, a P/E/G ratio of 0.75 and a beta of 0.67. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $258.76.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share 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 firm had revenue of $667.60 million during the quarter, compared to analysts’ expectations of $669.29 million. During the same period in the prior year, the company posted $3.34 EPS. The company’s revenue was down 2.2% compared to the same quarter last year. On average, equities analysts predict that SBA Communications Co. will post 12.56 EPS for the current fiscal year.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 14th will be given a $0.98 dividend. The ex-dividend date is Thursday, November 14th. This represents a $3.92 annualized dividend and a yield of 1.77%. SBA Communications’s dividend payout ratio (DPR) is 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.