1,655 Shares in SBA Communications Co. (NASDAQ:SBAC) Acquired by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC purchased a new position in shares of SBA Communications Co. (NASDAQ:SBAC) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,655 shares of the technology company’s stock, valued at approximately $403,000.

Other institutional investors have also modified their holdings of the company. SG Americas Securities LLC increased its holdings in shares of SBA Communications by 191.3% in the first quarter. SG Americas Securities LLC now owns 25,828 shares of the technology company’s stock valued at $5,597,000 after purchasing an additional 16,962 shares during the period. Virtu Financial LLC purchased a new stake in shares of SBA Communications in the first quarter valued at approximately $1,764,000. Easterly Investment Partners LLC purchased a new stake in shares of SBA Communications in the first quarter valued at approximately $1,412,000. Centersquare Investment Management LLC boosted its stake in shares of SBA Communications by 1.9% in the first quarter. Centersquare Investment Management LLC now owns 168,379 shares of the technology company’s stock valued at $36,488,000 after buying an additional 3,087 shares in the last quarter. Finally, Tidal Investments LLC boosted its stake in shares of SBA Communications by 105.4% in the first quarter. Tidal Investments LLC now owns 5,279 shares of the technology company’s stock valued at $1,144,000 after buying an additional 2,709 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Insiders Place Their Bets

In other SBA Communications news, 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 transaction, the executive vice president now owns 4,998 shares of the company’s stock, valued at $1,213,814.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director George R. Krouse, Jr. sold 325 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total value of $71,363.50. Following the sale, the director now directly owns 8,084 shares in the company, valued at $1,775,084.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 value of $364,290.00. Following the completion of the sale, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,213,814.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

SBA Communications Stock Performance

Shares of SBAC opened at $228.77 on Tuesday. The company has a market capitalization of $24.59 billion, a P/E ratio of 36.08, a P/E/G ratio of 0.69 and a beta of 0.68. SBA Communications Co. has a one year low of $183.64 and a one year high of $258.76. The stock has a 50-day moving average price of $237.98 and a 200 day moving average price of $214.95.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). The business had revenue of $667.60 million during the quarter, compared to analysts’ expectations 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 revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the prior year, the company posted $3.34 EPS. As a group, equities research analysts forecast that SBA Communications Co. will post 12.56 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The company also recently announced 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. This represents a $3.92 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend is Thursday, November 14th. SBA Communications’s dividend payout ratio is presently 61.83%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. The Goldman Sachs Group lifted their price target on SBA Communications from $212.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Morgan Stanley boosted their target price on SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. StockNews.com downgraded SBA Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. upped their price objective on SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Finally, KeyCorp upped their price objective on SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $257.23.

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.