True North Advisors LLC Has $2.07 Million Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

True North Advisors LLC lifted its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 1,112.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 10,159 shares of the technology company’s stock after acquiring an additional 9,321 shares during the period. True North Advisors LLC’s holdings in SBA Communications were worth $2,070,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in SBAC. Victory Capital Management Inc. raised its stake in SBA Communications by 2,821.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company’s stock worth $292,714,000 after buying an additional 1,174,469 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of SBA Communications by 377.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 886,384 shares of the technology company’s stock worth $213,353,000 after purchasing an additional 700,791 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of SBA Communications by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock worth $1,024,049,000 after purchasing an additional 605,872 shares in the last quarter. Long Pond Capital LP acquired a new stake in SBA Communications in the 2nd quarter valued at $83,687,000. Finally, AQR Capital Management LLC increased its stake in SBA Communications by 500.0% during the 2nd quarter. AQR Capital Management LLC now owns 369,037 shares of the technology company’s stock valued at $72,375,000 after purchasing an additional 307,530 shares in the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at SBA Communications

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

Analyst Ratings Changes

SBAC has been the subject of a number of analyst reports. KeyCorp lifted their price objective on shares of SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a report on Monday, October 14th. TD Cowen lifted their price target on SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. BMO Capital Markets reissued a “market perform” rating and issued a $230.00 price objective (down from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Raymond James lifted their target price on SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a research report on Tuesday, October 29th. Finally, Wells Fargo & Company increased their price target on SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $254.77.

SBA Communications Price Performance

Shares of NASDAQ SBAC opened at $198.40 on Thursday. The business’s fifty day moving average price is $210.67 and its 200-day moving average price is $221.77. SBA Communications Co. has a one year low of $183.64 and a one year high of $252.64. The stock has a market capitalization of $21.33 billion, a PE ratio of 31.29, a P/E/G ratio of 0.73 and a beta of 0.69.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings data 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). SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The company 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 firm posted $3.34 earnings per share. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, equities analysts expect that SBA Communications Co. will post 12.57 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th were given a dividend of $0.98 per share. The ex-dividend date was Thursday, November 14th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.98%. SBA Communications’s dividend payout ratio (DPR) 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.