382 Shares in SBA Communications Co. (NASDAQ:SBAC) Purchased by Brooklyn Investment Group

Brooklyn Investment Group acquired a new position in shares of SBA Communications Co. (NASDAQ:SBAC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 382 shares of the technology company’s stock, valued at approximately $92,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SBAC. Partners Group Holding AG boosted its holdings in SBA Communications by 15.7% in the third quarter. Partners Group Holding AG now owns 155,951 shares of the technology company’s stock worth $37,537,000 after acquiring an additional 21,136 shares in the last quarter. FMR LLC boosted its stake in SBA Communications by 18.1% in the 3rd quarter. FMR LLC now owns 387,967 shares of the technology company’s stock worth $93,384,000 after purchasing an additional 59,368 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in SBA Communications by 1.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 87,054 shares of the technology company’s stock worth $20,954,000 after purchasing an additional 1,539 shares in the last quarter. Bank of Montreal Can grew its position in SBA Communications by 135.5% during the 3rd quarter. Bank of Montreal Can now owns 420,514 shares of the technology company’s stock valued at $100,351,000 after purchasing an additional 241,916 shares during the last quarter. Finally, Brown Brothers Harriman & Co. increased its stake in SBA Communications by 5.2% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,621 shares of the technology company’s stock valued at $390,000 after purchasing an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Performance

Shares of SBAC stock opened at $228.51 on Friday. The stock has a 50 day moving average price of $233.05 and a 200 day moving average price of $218.00. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $258.76. The firm has a market capitalization of $24.57 billion, a P/E ratio of 36.04, a P/E/G ratio of 0.76 and a beta of 0.68.

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 the consensus estimate of $3.17 by ($0.77). The business had revenue of $667.60 million for the quarter, compared to the consensus estimate of $669.29 million. SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $3.34 earnings per share. As a group, sell-side analysts forecast that SBA Communications Co. will post 12.56 EPS for the current year.

SBA Communications Announces Dividend

The business also recently announced 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. The ex-dividend date is Thursday, November 14th. This represents a $3.92 dividend on an annualized basis and a yield of 1.72%. SBA Communications’s dividend payout ratio is currently 61.83%.

Wall Street Analysts Forecast Growth

SBAC has been the topic of a number of recent analyst reports. BMO Capital Markets increased their price target on shares of SBA Communications from $255.00 to $260.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. TD Cowen lifted their target price on SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Wells Fargo & Company upped their price target on SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Barclays lifted their price objective on SBA Communications from $236.00 to $256.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Raymond James upped their target price on shares of SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 29th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $257.23.

Insider Transactions at SBA Communications

In other news, EVP Donald Day sold 1,500 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $242.86, for a total transaction of $364,290.00. Following the transaction, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,213,814.28. This trade represents a 23.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.30% of the company’s stock.

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.