Arrowstreet Capital Limited Partnership Buys 26,433 Shares of SBA Communications Corporation $SBAC

Arrowstreet Capital Limited Partnership boosted its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 15.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 202,561 shares of the technology company’s stock after purchasing an additional 26,433 shares during the period. Arrowstreet Capital Limited Partnership owned 0.19% of SBA Communications worth $47,569,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Cetera Investment Advisers grew its stake in shares of SBA Communications by 21.3% in the first quarter. Cetera Investment Advisers now owns 7,790 shares of the technology company’s stock valued at $1,714,000 after buying an additional 1,370 shares in the last quarter. LPL Financial LLC grew its position in shares of SBA Communications by 11.3% in the 1st quarter. LPL Financial LLC now owns 19,707 shares of the technology company’s stock valued at $4,336,000 after acquiring an additional 1,994 shares during the period. Vanguard Group Inc. grew its position in shares of SBA Communications by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 17,666,669 shares of the technology company’s stock valued at $3,886,844,000 after acquiring an additional 268,018 shares during the period. ASR Vermogensbeheer N.V. acquired a new position in shares of SBA Communications during the 1st quarter worth about $387,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of SBA Communications by 3.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,350,663 shares of the technology company’s stock valued at $297,159,000 after purchasing an additional 42,152 shares during the period. Institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Down 0.2%

Shares of NASDAQ:SBAC opened at $189.58 on Friday. The business has a fifty day simple moving average of $193.82 and a 200 day simple moving average of $211.78. The firm has a market cap of $20.20 billion, a P/E ratio of 24.72, a P/E/G ratio of 1.65 and a beta of 0.87. SBA Communications Corporation has a 12-month low of $185.13 and a 12-month high of $245.16.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Monday, November 3rd. The technology company reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.21 by $0.09. SBA Communications had a negative return on equity of 16.60% and a net margin of 29.69%.The company had revenue of $732.33 million for the quarter, compared to the consensus estimate of $715.65 million. During the same period in the previous year, the business earned $3.32 EPS. The firm’s revenue was up 9.7% compared to the same quarter last year. As a group, equities research analysts expect that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Thursday, November 13th will be given a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Thursday, November 13th. SBA Communications’s dividend payout ratio is presently 57.89%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SBAC shares. Morgan Stanley reduced their price target on SBA Communications from $260.00 to $220.00 and set an “equal weight” rating for the company in a report on Thursday, October 16th. UBS Group cut their price objective on SBA Communications from $285.00 to $275.00 and set a “buy” rating for the company in a research report on Tuesday, October 14th. Williams Trading set a $237.00 target price on SBA Communications in a report on Tuesday, November 4th. Royal Bank Of Canada dropped their price target on SBA Communications from $235.00 to $232.00 and set an “outperform” rating on the stock in a research note on Monday, November 10th. Finally, The Goldman Sachs Group reduced their price objective on shares of SBA Communications from $250.00 to $220.00 and set a “neutral” rating for the company in a research report on Wednesday, October 1st. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $237.63.

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.