SBA Communications Co. (NASDAQ:SBAC) Shares Bought by Metis Global Partners LLC

Metis Global Partners LLC lifted its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 1.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 5,527 shares of the technology company’s stock after buying an additional 66 shares during the period. Metis Global Partners LLC’s holdings in SBA Communications were worth $1,330,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in SBAC. Vanguard Group Inc. grew its stake in shares of SBA Communications by 0.5% in the first quarter. Vanguard Group Inc. now owns 17,368,209 shares of the technology company’s stock valued at $3,763,691,000 after buying an additional 88,339 shares in the last quarter. Diamond Hill Capital Management Inc. grew its position in SBA Communications by 13.4% in the second quarter. Diamond Hill Capital Management Inc. now owns 1,973,867 shares of the technology company’s stock valued at $387,470,000 after acquiring an additional 233,179 shares in the last quarter. Victory Capital Management Inc. grew its position 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 in the last quarter. American Century Companies Inc. raised its stake in shares of SBA Communications by 15.5% during the second quarter. American Century Companies Inc. now owns 1,190,288 shares of the technology company’s stock valued at $233,654,000 after purchasing an additional 159,433 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of SBA Communications by 3.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 986,487 shares of the technology company’s stock worth $213,773,000 after purchasing an additional 33,507 shares in the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at SBA Communications

In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total transaction of $71,363.50. Following the completion of the transaction, the director now directly owns 8,084 shares of the company’s stock, valued at $1,775,084.72. The trade was a 3.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction of $364,290.00. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Wall Street Analysts Forecast Growth

SBAC has been the topic of several analyst reports. Royal Bank of Canada lifted their price target on shares of SBA Communications from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. lifted their target price on SBA Communications from $228.00 to $250.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Deutsche Bank Aktiengesellschaft increased their price target on SBA Communications from $230.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. The Goldman Sachs Group lifted their price objective on SBA Communications from $212.00 to $240.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Finally, Morgan Stanley increased their target price on SBA Communications from $232.00 to $252.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, SBA Communications has an average rating of “Moderate Buy” and a consensus price target of $257.23.

SBA Communications Price Performance

SBA Communications stock opened at $221.09 on Friday. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $258.76. The company has a fifty day moving average price of $236.35 and a two-hundred day moving average price of $216.16. The company has a market cap of $23.77 billion, a PE ratio of 34.87, a P/E/G ratio of 0.74 and a beta of 0.68.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.77). The business had revenue of $667.60 million during 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%. The company’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period last year, the firm posted $3.34 earnings per share. Equities research analysts anticipate that SBA Communications Co. will post 12.56 earnings per share for the current year.

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th will be given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Thursday, November 14th. SBA Communications’s payout ratio is 61.83%.

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.