Integrated Advisors Network LLC Buys Shares of 2,575 SBA Communications Co. (NASDAQ:SBAC)

Integrated Advisors Network LLC acquired a new position in SBA Communications Co. (NASDAQ:SBAC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,575 shares of the technology company’s stock, valued at approximately $620,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in SBA Communications by 10.7% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 527 shares of the technology company’s stock valued at $127,000 after purchasing an additional 51 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in shares of SBA Communications by 0.6% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 9,265 shares of the technology company’s stock valued at $1,819,000 after buying an additional 53 shares in the last quarter. Checchi Capital Advisers LLC lifted its holdings in shares of SBA Communications by 4.1% in the 2nd quarter. Checchi Capital Advisers LLC now owns 1,457 shares of the technology company’s stock worth $286,000 after acquiring an additional 57 shares during the last quarter. Industrial Alliance Investment Management Inc. lifted its position in SBA Communications by 3.9% in the first quarter. Industrial Alliance Investment Management Inc. now owns 1,560 shares of the technology company’s stock valued at $338,000 after purchasing an additional 58 shares during the last quarter. Finally, Sugarloaf Wealth Management LLC grew its holdings in SBA Communications by 11.6% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 558 shares of the technology company’s stock worth $134,000 after acquiring an additional 58 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors.

Insider Transactions at SBA Communications

In other news, EVP Donald Day sold 1,500 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $242.86, for a total value of $364,290.00. Following the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,213,814.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other SBA Communications news, EVP Donald Day sold 1,500 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $242.86, for a total value of $364,290.00. Following the completion of the sale, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,213,814.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director George R. Krouse, Jr. sold 325 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total transaction of $71,363.50. Following the transaction, the director now owns 8,084 shares in the company, valued at approximately $1,775,084.72. 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 have recently weighed in on SBAC. TD Cowen lifted their target price on shares of SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research note on Tuesday. Raymond James upped their target price 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. Royal Bank of Canada boosted their price objective on shares of SBA Communications from $235.00 to $245.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. JPMorgan Chase & Co. lifted their target price on SBA Communications from $228.00 to $250.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Finally, Wells Fargo & Company lifted their price objective on SBA Communications from $220.00 to $240.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $257.23.

SBA Communications Stock Down 1.0 %

Shares of SBAC stock opened at $229.47 on Friday. The company’s fifty day simple moving average is $237.99 and its two-hundred day simple moving average is $214.27. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $258.76. The stock has a market cap of $24.66 billion, a P/E ratio of 36.19, a PEG ratio of 0.73 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 EPS 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 the consensus estimate of $669.29 million. SBA Communications had a net margin of 19.22% and a negative return on equity of 9.85%. The firm’s revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the business posted $3.34 EPS. On average, analysts anticipate that SBA Communications Co. will post 12.52 EPS for the current fiscal year.

SBA Communications Dividend Announcement

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