UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Buys 700,791 Shares of SBA Communications Co. (NASDAQ:SBAC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 377.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 886,384 shares of the technology company’s stock after acquiring an additional 700,791 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in SBA Communications were worth $213,353,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. lifted its stake in shares of SBA Communications by 16.5% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,781 shares of the technology company’s stock valued at $356,000 after buying an additional 252 shares in the last quarter. 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 worth $1,144,000 after acquiring an additional 2,709 shares during the period. Cetera Investment Advisers grew its position in shares of SBA Communications by 228.1% during the first quarter. Cetera Investment Advisers now owns 10,394 shares of the technology company’s stock worth $2,252,000 after purchasing an additional 7,226 shares in the last quarter. Cetera Advisors LLC raised its stake in SBA Communications by 41.8% during the 1st quarter. Cetera Advisors LLC now owns 1,670 shares of the technology company’s stock valued at $362,000 after purchasing an additional 492 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its holdings in SBA Communications by 2.0% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 23,266 shares of the technology company’s stock worth $5,015,000 after purchasing an additional 453 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. BMO Capital Markets increased their price target on SBA Communications from $255.00 to $260.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. raised their price target on SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Barclays upped their price objective on SBA Communications from $236.00 to $256.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Royal Bank of Canada raised their target price on shares of SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $257.23.

SBA Communications Trading Down 1.0 %

Shares of SBAC opened at $226.25 on Friday. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $258.76. The company’s fifty day simple moving average is $232.78 and its 200-day simple moving average is $218.33. The company has a market cap of $24.33 billion, a P/E ratio of 35.69, a P/E/G ratio of 0.77 and a beta of 0.68.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Monday, October 28th. The technology company reported $2.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.77). The firm had revenue of $667.60 million during the quarter, compared to the consensus estimate of $669.29 million. SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the previous year, the business earned $3.34 EPS. Analysts predict that SBA Communications Co. will post 12.56 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 14th will be given a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend is Thursday, November 14th. SBA Communications’s dividend payout ratio (DPR) is presently 61.83%.

Insiders Place Their Bets

In other news, EVP Donald Day sold 1,500 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $242.86, for a total value of $364,290.00. Following 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 23.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.

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.