SBA Communications Co. (NASDAQ:SBAC) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 2,821.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,216,094 shares of the technology company’s stock after purchasing an additional 1,174,469 shares during the quarter. Victory Capital Management Inc.’s holdings in SBA Communications were worth $292,714,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC grew its position in SBA Communications by 72.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 2,389 shares of the technology company’s stock worth $518,000 after purchasing an additional 1,004 shares during the last quarter. Empowered Funds LLC grew its holdings in SBA Communications by 28.2% in the 1st quarter. Empowered Funds LLC now owns 1,355 shares of the technology company’s stock worth $294,000 after buying an additional 298 shares in the last quarter. Forsta AP Fonden increased its position in SBA Communications by 6.4% in the 1st quarter. Forsta AP Fonden now owns 20,000 shares of the technology company’s stock valued at $4,334,000 after acquiring an additional 1,200 shares during the period. State Board of Administration of Florida Retirement System raised its stake in SBA Communications by 20.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 136,400 shares of the technology company’s stock valued at $29,558,000 after acquiring an additional 23,543 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in SBA Communications by 15.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 125,631 shares of the technology company’s stock worth $27,224,000 after acquiring an additional 16,831 shares during the period. 97.35% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SBAC has been the topic of a number of research analyst reports. Royal Bank of Canada raised their price target on SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Barclays raised their target price on shares of SBA Communications from $236.00 to $256.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. BMO Capital Markets boosted their price target on shares of SBA Communications from $255.00 to $260.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 29th. Wells Fargo & Company increased their price objective on shares of SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Finally, The Goldman Sachs Group raised their price objective on shares of SBA Communications from $212.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. 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’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $257.23.

SBA Communications Stock Down 1.0 %

SBA Communications stock traded down $2.26 during mid-day trading on Tuesday, hitting $217.93. The company’s stock had a trading volume of 260,720 shares, compared to its average volume of 924,811. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $258.76. The stock’s fifty day moving average price is $237.52 and its two-hundred day moving average price is $215.82. The stock has a market capitalization of $23.43 billion, a P/E ratio of 34.73, a P/E/G ratio of 0.76 and a beta of 0.68.

SBA Communications (NASDAQ:SBAC) last issued its 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). SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The company had revenue of $667.60 million during the quarter, compared to analyst estimates of $669.29 million. During the same quarter in the previous year, the firm earned $3.34 earnings per share. The business’s revenue was down 2.2% compared to the same quarter last year. Equities analysts expect that SBA Communications Co. will post 12.56 earnings per share for the current year.

SBA Communications Announces Dividend

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

Insider Buying and Selling at SBA Communications

In related news, EVP Donald Day sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $242.86, for a total value of $364,290.00. Following the completion of the transaction, the executive vice president now owns 4,998 shares of the company’s stock, valued at approximately $1,213,814.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of SBA Communications 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 of the company’s stock, valued at $1,775,084.72. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Donald Day sold 1,500 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at $1,213,814.28. This trade represents a 0.00 % 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.

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.