SBA Communications Corporation $SBAC Shares Bought by Headlands Technologies LLC

Headlands Technologies LLC raised its holdings in SBA Communications Corporation (NASDAQ:SBAC) by 303.5% during the 2nd quarter, Holdings Channel reports. The firm owned 8,728 shares of the technology company’s stock after purchasing an additional 6,565 shares during the quarter. Headlands Technologies LLC’s holdings in SBA Communications were worth $1,540,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in SBA Communications by 5.7% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 267,659 shares of the technology company’s stock valued at $46,067,000 after buying an additional 14,317 shares during the last quarter. Morningstar Investment Management LLC purchased a new stake in shares of SBA Communications in the fourth quarter valued at $1,807,000. Plato Investment Management Ltd purchased a new stake in shares of SBA Communications in the second quarter valued at $1,011,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of SBA Communications by 6.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 226,271 shares of the technology company’s stock valued at $43,553,000 after acquiring an additional 13,383 shares during the last quarter. Finally, Delta Global Management LP acquired a new stake in shares of SBA Communications during the first quarter valued at $2,162,000. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Stock Down 0.7%

Shares of SBAC opened at $189.66 on Tuesday. The firm has a market cap of $20.12 billion, a PE ratio of 20.44, a price-to-earnings-growth ratio of 1.91 and a beta of 0.99. The company’s fifty day moving average is $182.87 and its two-hundred day moving average is $194.38. SBA Communications Corporation has a fifty-two week low of $162.41 and a fifty-two week high of $224.46.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Monday, August 3rd. The technology company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.02. The company had revenue of $715.27 million during the quarter, compared to analysts’ expectations of $706.01 million. SBA Communications had a net margin of 34.51% and a negative return on equity of 20.67%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company earned $3.17 EPS. As a group, equities research analysts anticipate that SBA Communications Corporation will post 11.41 earnings per share for the current year.

SBA Communications Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Thursday, August 20th will be given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Thursday, August 20th. SBA Communications’s payout ratio is 53.88%.

Insider Buying and Selling

In other SBA Communications news, Director George R. Krouse, Jr. sold 300 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $182.67, for a total transaction of $54,801.00. Following the completion of the sale, the director directly owned 8,512 shares in the company, valued at $1,554,887.04. This represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 9.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SBAC. UBS Group downgraded shares of SBA Communications from a “market perform” rating to a “hold” rating in a research note on Monday, August 24th. BMO Capital Markets reaffirmed a “market perform” rating on shares of SBA Communications in a research note on Monday, August 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of SBA Communications in a report on Monday, July 20th. Citigroup reissued a “market perform” rating on shares of SBA Communications in a research report on Tuesday, August 4th. Finally, Morgan Stanley reduced their price objective on shares of SBA Communications from $225.00 to $215.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 4th. Seven research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $225.53.

SBA Communications Company Profile

SBA Communications Corporation (NASDAQ: SBAC) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its core business is the leasing of space on communications towers, rooftop sites and other wireless structures to mobile network operators, broadband providers and other wireless service customers. The company also provides site development, construction and ongoing site management services to support the deployment and operation of wireless networks.

In addition to traditional macro towers, SBA offers a range of infrastructure solutions designed for dense urban and suburban markets, including small cells, distributed antenna systems (DAS) and fiber backhaul and transport services.