Nykredit A S Invests $8.62 Million in SBA Communications Corporation $SBAC

Nykredit A S purchased a new stake in shares of SBA Communications Corporation (NASDAQ:SBAC) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 48,864 shares of the technology company’s stock, valued at approximately $8,623,000.

Other large investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its position in SBA Communications by 272.8% in the first quarter. Jones Financial Companies Lllp now owns 753 shares of the technology company’s stock worth $166,000 after acquiring an additional 551 shares during the period. Empowered Funds LLC raised its position in SBA Communications by 12.6% in the first quarter. Empowered Funds LLC now owns 2,041 shares of the technology company’s stock valued at $449,000 after purchasing an additional 229 shares during the period. Focus Partners Wealth raised its position in SBA Communications by 9.0% in the first quarter. Focus Partners Wealth now owns 3,236 shares of the technology company’s stock valued at $712,000 after purchasing an additional 266 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of SBA Communications by 105.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after purchasing an additional 84 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of SBA Communications by 11.3% in the 2nd quarter. First Trust Advisors LP now owns 94,692 shares of the technology company’s stock valued at $22,238,000 after purchasing an additional 9,617 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on SBAC. Weiss Ratings reissued a “hold (c)” rating on shares of SBA Communications in a research report on Monday, July 20th. The Goldman Sachs Group began coverage on shares of SBA Communications in a research report on Friday, June 26th. They issued a “neutral” rating and a $205.00 target price on the stock. UBS Group lowered shares of SBA Communications from a “market perform” rating to a “hold” rating in a research note on Monday, August 24th. Wells Fargo & Company upgraded shares of SBA Communications from an “equal weight” rating to an “overweight” rating and dropped their price target for the company from $220.00 to $210.00 in a research report on Friday, July 17th. Finally, TD Cowen reissued a “buy” rating on shares of SBA Communications 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 MarketBeat, SBA Communications currently has a consensus rating of “Hold” and a consensus price target of $225.53.

SBA Communications Trading Down 1.1%

Shares of NASDAQ SBAC opened at $189.44 on Friday. SBA Communications Corporation has a twelve month low of $162.41 and a twelve month high of $224.46. The stock has a fifty day simple moving average of $183.19 and a 200-day simple moving average of $194.18. The stock has a market capitalization of $20.10 billion, a PE ratio of 20.41, a PEG ratio of 1.89 and a beta of 0.99.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, August 3rd. The technology company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.02. SBA Communications had a negative return on equity of 20.67% and a net margin of 34.51%.The firm had revenue of $715.27 million for the quarter, compared to analyst estimates of $706.01 million. During the same quarter in the prior year, the company earned $3.17 EPS. SBA Communications’s revenue was up 2.3% on a year-over-year basis. On average, equities analysts predict that SBA Communications Corporation will post 11.41 earnings per share for the current year.

SBA Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Thursday, August 20th will be paid a $1.25 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $5.00 annualized dividend and a dividend yield of 2.6%. SBA Communications’s dividend payout ratio (DPR) is presently 53.88%.

Insider Buying and Selling at SBA Communications

In related news, Director George R. Krouse, Jr. sold 300 shares of SBA Communications stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $182.67, for a total value of $54,801.00. Following the completion of the transaction, the director owned 8,512 shares in the company, valued at approximately $1,554,887.04. The trade was a 3.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 9.50% of the company’s stock.

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.