Partners Group Holding AG Raises Position in SBA Communications Co. (NASDAQ:SBAC)

Partners Group Holding AG boosted its position in SBA Communications Co. (NASDAQ:SBAC) by 15.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 155,951 shares of the technology company’s stock after purchasing an additional 21,136 shares during the period. SBA Communications comprises approximately 2.5% of Partners Group Holding AG’s portfolio, making the stock its 17th biggest holding. Partners Group Holding AG owned 0.15% of SBA Communications worth $37,537,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SBAC. Ashton Thomas Securities LLC bought a new position in shares of SBA Communications in the third quarter worth $26,000. Ridgewood Investments LLC purchased a new position in SBA Communications during the 2nd quarter valued at about $32,000. Capital Performance Advisors LLP bought a new stake in shares of SBA Communications during the third quarter valued at about $35,000. Family Firm Inc. purchased a new stake in shares of SBA Communications in the second quarter worth about $36,000. Finally, Global X Japan Co. Ltd. purchased a new stake in SBA Communications in the 2nd quarter worth approximately $49,000. 97.35% of the stock is owned by institutional investors.

SBA Communications Trading Up 2.4 %

Shares of SBAC stock opened at $225.98 on Tuesday. The stock has a market capitalization of $24.30 billion, a P/E ratio of 35.64, a P/E/G ratio of 0.75 and a beta of 0.68. The firm’s 50 day moving average is $233.84 and its 200 day moving average is $217.65. 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, October 28th. The technology company reported $2.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). The firm had revenue of $667.60 million during the quarter, compared to analysts’ expectations of $669.29 million. SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The business’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the business earned $3.34 earnings per share. As a group, equities analysts predict that SBA Communications Co. will post 12.56 earnings per share for the current year.

SBA Communications Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on SBAC shares. The Goldman Sachs Group lifted their price objective on SBA Communications from $212.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. TD Cowen lifted their price target on SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Raymond James upped their price objective on shares of SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, October 29th. Wells Fargo & Company raised their target price on shares of SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. boosted their price target on shares of SBA Communications from $228.00 to $250.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, SBA Communications presently has a consensus rating of “Moderate Buy” and an average price target of $257.23.

Insider Activity

In other SBA Communications news, 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 sale, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,213,814.28. This trade represents a 23.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.

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.