Two Sigma Advisers LP increased its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 24.8% in the second quarter, Holdings Channel reports. The institutional investor owned 436,933 shares of the technology company’s stock after buying an additional 86,900 shares during the period. Two Sigma Advisers LP’s holdings in SBA Communications were worth $130,171,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Public Employees Retirement Association of Colorado raised its holdings in SBA Communications by 1.7% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 21,153 shares of the technology company’s stock valued at $5,711,000 after acquiring an additional 359 shares in the last quarter. Aew Capital Management L P bought a new position in shares of SBA Communications in the 1st quarter valued at $8,720,000. AE Wealth Management LLC bought a new position in shares of SBA Communications in the 1st quarter valued at $281,000. Oppenheimer Asset Management Inc. increased its stake in shares of SBA Communications by 6.7% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 13,516 shares of the technology company’s stock valued at $3,648,000 after purchasing an additional 849 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its stake in shares of SBA Communications by 2.8% in the 1st quarter. Oppenheimer & Co. Inc. now owns 9,082 shares of the technology company’s stock valued at $2,452,000 after purchasing an additional 248 shares during the last quarter. Institutional investors and hedge funds own 93.48% of the company’s stock.
SBAC has been the topic of several recent analyst reports. JPMorgan Chase & Co. upgraded SBA Communications from a “neutral” rating to an “overweight” rating and set a $335.00 price target on the stock in a research note on Tuesday, June 9th. BidaskClub lowered SBA Communications from a “hold” rating to a “sell” rating in a research report on Thursday, August 6th. Barclays started coverage on SBA Communications in a research report on Wednesday, July 15th. They set an “equal weight” rating and a $308.00 price objective on the stock. Morgan Stanley boosted their price objective on SBA Communications from $298.00 to $309.00 and gave the stock an “equal weight” rating in a research report on Monday, June 1st. Finally, KeyCorp lowered SBA Communications from an “overweight” rating to a “sector weight” rating in a research report on Monday, July 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company. SBA Communications presently has a consensus rating of “Buy” and a consensus price target of $317.38.
SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Monday, August 3rd. The technology company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($1.85). The business had revenue of $507.23 million during the quarter, compared to analyst estimates of $500.60 million. SBA Communications had a negative net margin of 0.74% and a negative return on equity of 4.24%. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.09 earnings per share. On average, equities analysts predict that SBA Communications Co. will post 8.75 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 22nd. Stockholders of record on Tuesday, August 25th will be paid a $0.465 dividend. This represents a $1.86 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date is Monday, August 24th. SBA Communications’s dividend payout ratio is 21.91%.
In other news, Director George R. Krouse, Jr. sold 223 shares of the business’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $314.52, for a total value of $70,137.96. Following the transaction, the director now directly owns 10,500 shares of the company’s stock, valued at approximately $3,302,460. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.20% of the stock is owned by insiders.
SBA Communications Company Profile
SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America. By Building Better Wireless, SBA generates revenue from two primary businesses – site leasing and site development services. The primary focus of the Company is the leasing of antenna space on its multi-tenant communication sites to a variety of wireless service providers under long-term lease contracts.
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