SBA Communications Co. (NASDAQ:SBAC) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its holdings in SBA Communications Co. (NASDAQ:SBAC) by 2,821.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,216,094 shares of the technology company’s stock after purchasing an additional 1,174,469 shares during the quarter. Victory Capital Management Inc. owned approximately 1.13% of SBA Communications worth $292,714,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in SBAC. Ashton Thomas Securities LLC acquired a new position in shares of SBA Communications during the 3rd quarter valued at about $26,000. Capital Performance Advisors LLP purchased a new stake in SBA Communications in the third quarter valued at approximately $35,000. Ridgewood Investments LLC acquired a new position in SBA Communications during the second quarter worth approximately $32,000. Family Firm Inc. purchased a new position in SBA Communications during the second quarter worth approximately $36,000. Finally, Friedenthal Financial acquired a new position in shares of SBA Communications in the 3rd quarter valued at $50,000. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Stock Performance

Shares of SBAC stock traded down $2.26 on Tuesday, hitting $217.93. The stock had a trading volume of 260,720 shares, compared to its average volume of 924,811. The stock’s 50 day moving average is $237.52 and its 200-day moving average is $215.82. The firm has a market capitalization of $23.43 billion, a price-to-earnings ratio of 34.73, a P/E/G ratio of 0.76 and a beta of 0.68. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $258.76.

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

SBA Communications Dividend Announcement

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 issued a dividend of $0.98 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.92 annualized dividend and a yield of 1.80%. SBA Communications’s dividend payout ratio is presently 61.83%.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total transaction of $71,363.50. Following the transaction, the director now directly owns 8,084 shares in the company, valued at $1,775,084.72. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Donald Day sold 1,500 shares of SBA Communications stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $242.86, for a total value 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George R. Krouse, Jr. sold 325 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total value of $71,363.50. Following the sale, the director now directly owns 8,084 shares in the company, valued at approximately $1,775,084.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

SBAC has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price objective on SBA Communications from $220.00 to $240.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Royal Bank of Canada upped their price target on SBA Communications from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft boosted their target price on SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Finally, Morgan Stanley raised their price target on shares of SBA Communications from $232.00 to $252.00 and gave the company an “overweight” rating in a report on Wednesday, September 18th. Three equities 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. According to MarketBeat, SBA Communications has an average rating of “Moderate Buy” and a consensus price target of $257.23.

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.