GAMMA Investing LLC Boosts Holdings in SBA Communications Co. (NASDAQ:SBAC)

GAMMA Investing LLC raised its position in SBA Communications Co. (NASDAQ:SBAC) by 24.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 989 shares of the technology company’s stock after acquiring an additional 197 shares during the quarter. GAMMA Investing LLC’s holdings in SBA Communications were worth $238,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. Heitman Real Estate Securities LLC grew its stake in SBA Communications by 355.4% during the 4th quarter. Heitman Real Estate Securities LLC now owns 102,953 shares of the technology company’s stock worth $26,118,000 after buying an additional 80,345 shares during the last quarter. GRS Advisors LLC grew its stake in shares of SBA Communications by 796.9% during the fourth quarter. GRS Advisors LLC now owns 124,954 shares of the technology company’s stock worth $31,700,000 after acquiring an additional 111,022 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of SBA Communications during the fourth quarter worth about $3,779,000. Quarry LP increased its holdings in shares of SBA Communications by 400.0% during the fourth quarter. Quarry LP now owns 165 shares of the technology company’s stock valued at $42,000 after acquiring an additional 132 shares in the last quarter. Finally, Novak & Powell Financial Services Inc. purchased a new position in shares of SBA Communications in the 4th quarter valued at approximately $1,278,000. 97.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity at SBA Communications

In other SBA Communications news, Chairman Jeffrey Stoops sold 49,765 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the completion of the sale, the chairman now directly owns 109,583 shares in the company, valued at approximately $24,328,521.83. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Chairman Jeffrey Stoops sold 49,765 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the completion of the sale, the chairman now owns 109,583 shares of the company’s stock, valued at $24,328,521.83. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a 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 dated 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 transaction, the executive vice president now directly 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. In the last three months, insiders have sold 51,590 shares of company stock valued at $11,483,981. 1.30% of the stock is owned by corporate insiders.

SBA Communications Trading Down 1.0 %

Shares of SBAC opened at $233.23 on Friday. The firm has a market cap of $25.07 billion, a P/E ratio of 45.73, a PEG ratio of 0.71 and a beta of 0.67. The stock’s 50 day moving average is $231.10 and its two-hundred day moving average is $211.20. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $258.76.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, July 29th. The technology company reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.56). The company had revenue of $660.50 million during the quarter, compared to analyst estimates of $665.21 million. SBA Communications had a net margin of 19.22% and a negative return on equity of 9.85%. SBA Communications’s revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the business posted $3.24 EPS. Equities research analysts forecast that SBA Communications Co. will post 12.52 EPS for the current year.

SBA Communications Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Thursday, August 22nd were given a dividend of $0.98 per share. The ex-dividend date was Thursday, August 22nd. This represents a $3.92 annualized dividend and a dividend yield of 1.68%. SBA Communications’s dividend payout ratio (DPR) is presently 76.86%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Royal Bank of Canada upped their target price on SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. JPMorgan Chase & Co. lifted their price target on SBA Communications from $228.00 to $250.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. BMO Capital Markets dropped their price target on SBA Communications from $250.00 to $245.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. Finally, KeyCorp raised their price objective on SBA Communications from $227.00 to $230.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $247.42.

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.