SBA Communications Co. (NASDAQ:SBAC) Holdings Boosted by First Hawaiian Bank

First Hawaiian Bank raised its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 91.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,377 shares of the technology company’s stock after purchasing an additional 5,897 shares during the quarter. First Hawaiian Bank’s holdings in SBA Communications were worth $2,522,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of SBAC. Nordea Investment Management AB lifted its stake in SBA Communications by 49.3% in the 4th quarter. Nordea Investment Management AB now owns 687,496 shares of the technology company’s stock worth $141,205,000 after acquiring an additional 226,878 shares in the last quarter. Central Pacific Bank Trust Division grew its position in SBA Communications by 214.3% during the fourth quarter. Central Pacific Bank Trust Division now owns 2,200 shares of the technology company’s stock valued at $448,000 after purchasing an additional 1,500 shares in the last quarter. GAMMA Investing LLC increased its stake in SBA Communications by 22.9% in the 4th quarter. GAMMA Investing LLC now owns 1,215 shares of the technology company’s stock valued at $248,000 after buying an additional 226 shares during the period. Versant Capital Management Inc lifted its position in SBA Communications by 17.3% in the 4th quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock worth $73,000 after buying an additional 53 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of SBA Communications by 16.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock valued at $1,024,049,000 after buying an additional 605,872 shares during the period. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Price Performance

SBAC stock opened at $199.71 on Thursday. The stock has a market capitalization of $21.47 billion, a price-to-earnings ratio of 31.50, a price-to-earnings-growth ratio of 0.72 and a beta of 0.69. The company has a 50-day moving average of $215.08 and a two-hundred day moving average of $221.17. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $252.64.

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 business had revenue of $667.60 million for the quarter, compared to the consensus estimate of $669.29 million. During the same quarter in the previous year, the company earned $3.34 EPS. SBA Communications’s revenue for the quarter was down 2.2% compared to the same quarter last year. Equities analysts expect that SBA Communications Co. will post 12.56 EPS for the current fiscal year.

SBA Communications Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 14th were paid a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 1.96%. The ex-dividend date was Thursday, November 14th. SBA Communications’s payout ratio is currently 61.83%.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, EVP Donald Day sold 2,321 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $203.43, for a total value of $472,161.03. Following the completion of the sale, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,016,743.14. This trade represents a 31.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark R. Ciarfella sold 3,545 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $224.33, for a total value of $795,249.85. Following the sale, the executive vice president now owns 33,588 shares in the company, valued at approximately $7,534,796.04. This represents a 9.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

SBAC has been the topic of a number of research reports. Raymond James upped their price target on shares of SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, October 29th. Morgan Stanley raised their price target on SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 18th. JPMorgan Chase & Co. boosted 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. TD Cowen raised their price objective on shares of SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Finally, Barclays boosted their target price on shares of SBA Communications from $236.00 to $256.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $254.92.

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.