Barclays PLC Has $158.39 Million Position in SBA Communications Co. (NASDAQ:SBAC)

Barclays PLC grew its stake in SBA Communications Co. (NASDAQ:SBAC) by 71.0% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 658,029 shares of the technology company’s stock after buying an additional 273,237 shares during the period. Barclays PLC’s holdings in SBA Communications were worth $158,386,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its holdings in SBA Communications by 2,821.5% in the third quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company’s stock valued at $292,714,000 after acquiring an additional 1,174,469 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of SBA Communications by 377.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 886,384 shares of the technology company’s stock valued at $213,353,000 after purchasing an additional 700,791 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of SBA Communications in the 2nd quarter valued at $134,738,000. Long Pond Capital LP acquired a new stake in shares of SBA Communications during the second quarter worth $83,687,000. Finally, AQR Capital Management LLC raised its stake in SBA Communications by 500.0% during the second quarter. AQR Capital Management LLC now owns 369,037 shares of the technology company’s stock worth $72,375,000 after buying an additional 307,530 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors.

Insider Activity at SBA Communications

In related news, EVP Donald Day sold 1,500 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $242.86, for a total transaction 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. The trade was a 23.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on SBAC shares. JPMorgan Chase & Co. upped their price target on shares of SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. Morgan Stanley lifted their target price on SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a report on Wednesday, September 18th. Barclays increased their price target on SBA Communications from $236.00 to $256.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Wells Fargo & Company boosted their target price on shares of SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Three analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $257.23.

SBA Communications Trading Down 2.6 %

SBA Communications stock opened at $217.38 on Wednesday. The firm’s fifty day moving average price is $230.68 and its two-hundred day moving average price is $219.51. The firm has a market capitalization of $23.37 billion, a price-to-earnings ratio of 34.29, a price-to-earnings-growth ratio of 0.74 and a beta of 0.67. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $258.76.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). The company had revenue of $667.60 million for the quarter, compared to analyst estimates of $669.29 million. SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. SBA Communications’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $3.34 EPS. On average, research analysts forecast that SBA Communications Co. will post 12.56 EPS for the current year.

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 14th will be issued a dividend of $0.98 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.92 annualized dividend and a yield of 1.80%. SBA Communications’s dividend payout ratio (DPR) is currently 61.83%.

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.