International Assets Investment Management LLC Has $8.46 Million Stock Position in SBA Communications Co. (NASDAQ:SBAC)

International Assets Investment Management LLC lifted its stake in SBA Communications Co. (NASDAQ:SBAC) by 219,537.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 35,142 shares of the technology company’s stock after purchasing an additional 35,126 shares during the quarter. International Assets Investment Management LLC’s holdings in SBA Communications were worth $8,459,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of SBAC. Ridgewood Investments LLC bought a new position in shares of SBA Communications in the 2nd quarter valued at approximately $32,000. Family Firm Inc. bought a new position in shares of SBA Communications in the 2nd quarter valued at approximately $36,000. Global X Japan Co. Ltd. bought a new position in shares of SBA Communications in the 2nd quarter valued at approximately $49,000. Friedenthal Financial bought a new position in shares of SBA Communications in the 3rd quarter valued at approximately $50,000. Finally, Versant Capital Management Inc raised its stake in shares of SBA Communications by 4,500.0% in the 2nd quarter. Versant Capital Management Inc now owns 276 shares of the technology company’s stock valued at $54,000 after acquiring an additional 270 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total value of $71,363.50. Following the sale, the director now owns 8,084 shares of the company’s stock, valued at approximately $1,775,084.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director George R. Krouse, Jr. sold 325 shares of the stock in a transaction on Wednesday, August 21st. The stock was 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 in the company, valued at approximately $1,775,084.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Donald Day sold 1,500 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $242.86, for a total value of $364,290.00. Following the completion of the transaction, the executive vice president now owns 4,998 shares of the company’s stock, valued at $1,213,814.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on SBAC. JPMorgan Chase & Co. raised their price objective on SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. 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. Wells Fargo & Company raised their target price on SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. TD Cowen raised their target price on SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Barclays raised their target price on SBA Communications from $236.00 to $256.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $257.23.

SBA Communications Price Performance

Shares of NASDAQ:SBAC opened at $229.47 on Friday. The company has a market capitalization of $24.66 billion, a P/E ratio of 36.19, a P/E/G ratio of 0.73 and a beta of 0.67. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $258.76. The business’s 50 day simple moving average is $237.99 and its 200 day simple moving average is $214.27.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). The business had revenue of $667.60 million during the quarter, compared to analyst estimates of $669.29 million. SBA Communications had a net margin of 19.22% and a negative return on equity of 9.85%. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $3.34 EPS. On average, sell-side analysts anticipate that SBA Communications Co. will post 12.52 EPS for the current fiscal year.

SBA Communications Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 14th will be issued a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Thursday, November 14th. SBA Communications’s dividend payout ratio is presently 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.