Brooklyn Investment Group Invests $92,000 in SBA Communications Co. (NASDAQ:SBAC)

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

Other institutional investors and hedge funds also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. increased its stake in SBA Communications by 10.7% in the third 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 in the last quarter. Oregon Public Employees Retirement Fund increased its position in SBA Communications by 0.6% in 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. Farther Finance Advisors LLC raised its stake in SBA Communications by 32.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock worth $52,000 after buying an additional 53 shares during the period. Checchi Capital Advisers LLC boosted its holdings in SBA Communications by 4.1% in the second 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 in the last quarter. Finally, Sugarloaf Wealth Management LLC grew its stake in SBA Communications by 11.6% in the third quarter. Sugarloaf Wealth Management LLC now owns 558 shares of the technology company’s stock valued at $134,000 after acquiring an additional 58 shares during the period. Institutional investors own 97.35% of the company’s stock.

SBA Communications Price Performance

Shares of SBAC opened at $228.51 on Friday. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $258.76. The company 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. The firm’s 50 day simple moving average is $233.05 and its 200 day simple moving average is $218.00.

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

SBA Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th will be issued a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Thursday, November 14th. SBA Communications’s dividend payout ratio is 61.83%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada upped their target price on SBA Communications from $235.00 to $245.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Barclays raised their price objective 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. StockNews.com raised shares of SBA Communications from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. Raymond James raised their price target on shares of 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, BMO Capital Markets boosted their price objective on SBA Communications from $255.00 to $260.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $257.23.

Insider Buying and Selling

In related news, EVP Donald Day sold 1,500 shares of SBA Communications stock in a transaction 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 sale, the executive vice president now owns 4,998 shares in the company, valued at $1,213,814.28. The trade was a 23.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.30% of the stock is owned by insiders.

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.