Stableford Capital II LLC Has $2.11 Million Stake in SBA Communications Co. (NASDAQ:SBAC)

Stableford Capital II LLC boosted its position in SBA Communications Co. (NASDAQ:SBAC) by 32.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,022 shares of the technology company’s stock after purchasing an additional 2,188 shares during the period. Stableford Capital II LLC’s holdings in SBA Communications were worth $2,107,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Principal Financial Group Inc. increased its stake in shares of SBA Communications by 54.9% in the first quarter. Principal Financial Group Inc. now owns 4,300,157 shares of the technology company’s stock valued at $931,844,000 after buying an additional 1,524,302 shares during the period. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in SBA Communications during the 2nd quarter worth approximately $134,738,000. Long Pond Capital LP acquired a new position in SBA Communications in the 2nd quarter valued at approximately $83,687,000. AQR Capital Management LLC grew its stake in shares of SBA Communications by 500.0% in the second quarter. AQR Capital Management LLC now owns 369,037 shares of the technology company’s stock worth $72,375,000 after purchasing an additional 307,530 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. increased its holdings 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 purchasing an additional 233,179 shares during the period. 97.35% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other SBA Communications news, EVP Donald Day sold 1,500 shares of SBA Communications 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 owns 4,998 shares in the company, valued at approximately $1,213,814.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Chairman Jeffrey Stoops sold 49,765 shares of the stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $222.01, for a total value of $11,048,327.65. Following the completion of the sale, the chairman now owns 109,583 shares in the company, valued at $24,328,521.83. This represents a 0.00 % decrease in their ownership of the stock. The sale 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 business’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 transaction, the executive vice president now owns 4,998 shares in the company, valued at approximately $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. Over the last 90 days, insiders have sold 51,590 shares of company stock worth $11,483,981. Insiders own 1.30% of the company’s stock.

SBA Communications Trading Up 4.0 %

NASDAQ:SBAC opened at $249.31 on Wednesday. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $258.76. The stock has a market capitalization of $26.79 billion, a price-to-earnings ratio of 48.88, a PEG ratio of 0.70 and a beta of 0.67. The firm has a fifty day simple moving average of $232.25 and a two-hundred day simple moving average of $211.79.

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

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Thursday, August 22nd were given a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 1.57%. The ex-dividend date was Thursday, August 22nd. SBA Communications’s payout ratio is currently 76.86%.

Analysts Set New Price Targets

SBAC has been the topic of several recent research reports. StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a report on Friday, September 20th. KeyCorp lifted their price objective on SBA Communications from $230.00 to $280.00 and gave the stock an “overweight” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft increased their target price on shares of SBA Communications from $230.00 to $240.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Barclays boosted their price target on shares of SBA Communications from $236.00 to $256.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, BMO Capital Markets reduced their price objective on shares of SBA Communications from $250.00 to $245.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $251.58.

About SBA Communications

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.