SBA Communications Co. (NASDAQ:SBAC) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp boosted its holdings in SBA Communications Co. (NASDAQ:SBAC) by 8.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,739 shares of the technology company’s stock after acquiring an additional 1,812 shares during the period. Van ECK Associates Corp’s holdings in SBA Communications were worth $4,464,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in SBA Communications by 0.5% in the first quarter. Vanguard Group Inc. now owns 17,368,209 shares of the technology company’s stock valued at $3,763,691,000 after purchasing an additional 88,339 shares during the period. Principal Financial Group Inc. raised its holdings in SBA Communications by 54.9% in the 1st quarter. Principal Financial Group Inc. now owns 4,300,157 shares of the technology company’s stock valued at $931,844,000 after buying an additional 1,524,302 shares during the period. Brown Advisory Inc. lifted its position in SBA Communications by 7.9% in the fourth quarter. Brown Advisory Inc. now owns 2,091,103 shares of the technology company’s stock valued at $530,492,000 after buying an additional 153,299 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in SBA Communications by 9.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,958,156 shares of the technology company’s stock worth $496,765,000 after buying an additional 166,554 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of SBA Communications by 3.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,171,945 shares of the technology company’s stock valued at $297,311,000 after acquiring an additional 38,047 shares during the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Trading Up 1.8 %

Shares of SBAC opened at $230.81 on Wednesday. The firm has a market capitalization of $24.81 billion, a price-to-earnings ratio of 45.26, a PEG ratio of 0.70 and a beta of 0.67. The firm’s fifty day simple moving average is $212.69 and its 200-day simple moving average is $206.38. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $258.76.

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

SBA Communications Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Thursday, August 22nd will be given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Thursday, August 22nd. SBA Communications’s dividend payout ratio (DPR) is presently 76.86%.

Insider Buying and Selling

In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total transaction of $71,363.50. Following the sale, the director now owns 8,084 shares of the company’s stock, valued at $1,775,084.72. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Chairman Jeffrey Stoops sold 49,765 shares of the business’s 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 sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George R. Krouse, Jr. sold 325 shares of the company’s 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 sale, 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. 1.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

SBAC has been the topic of several recent analyst reports. TD Cowen decreased their price objective 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. KeyCorp lifted their price objective on SBA Communications from $227.00 to $230.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Barclays decreased their target price on SBA Communications from $240.00 to $236.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 30th. The Goldman Sachs Group started coverage on SBA Communications in a research report on Monday, July 1st. They issued a “neutral” rating and a $212.00 target price for the company. Finally, BMO Capital Markets reduced their price target on shares of SBA Communications from $250.00 to $245.00 and set an “outperform” rating on the stock in a research report 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’s stock. According to MarketBeat, SBA Communications presently has an average rating of “Moderate Buy” and an average price target of $237.92.

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.