SBA Communications Co. (NASDAQ:SBAC) Shares Purchased by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. raised its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 12.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,948 shares of the technology company’s stock after buying an additional 222 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in SBA Communications were worth $469,000 at the end of the most recent quarter.

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

SBA Communications Stock Performance

Shares of NASDAQ:SBAC opened at $225.59 on Monday. The company has a market cap of $24.24 billion, a P/E ratio of 35.58, a P/E/G ratio of 0.69 and a beta of 0.68. The stock’s 50-day moving average is $237.96 and its 200-day moving average is $214.71. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $258.76.

SBA Communications (NASDAQ:SBAC) last released 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). SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The firm had revenue of $667.60 million for the quarter, compared to analyst estimates of $669.29 million. During the same period last year, the business earned $3.34 earnings per share. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. As a group, equities analysts predict that SBA Communications Co. will post 12.56 EPS for the current year.

SBA Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 14th will be paid a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Thursday, November 14th. SBA Communications’s dividend payout ratio is 61.83%.

Insiders Place Their Bets

In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total transaction of $71,363.50. Following the completion of the transaction, the director now owns 8,084 shares in the company, valued at $1,775,084.72. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Donald Day sold 1,500 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $1,213,814.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director George R. Krouse, Jr. sold 325 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total transaction of $71,363.50. Following the completion of the transaction, the director now owns 8,084 shares of the company’s stock, valued at $1,775,084.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. increased their price target on SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Wells Fargo & Company raised their price objective on SBA Communications from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. StockNews.com lowered SBA Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Royal Bank of Canada increased their target price on SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Finally, TD Cowen increased their target price on SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $257.23.

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.