QRG Capital Management Inc. Buys 806 Shares of SBA Communications Co. (NASDAQ:SBAC)

QRG Capital Management Inc. increased its stake in SBA Communications Co. (NASDAQ:SBAC) by 17.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 5,434 shares of the technology company’s stock after acquiring an additional 806 shares during the period. QRG Capital Management Inc.’s holdings in SBA Communications were worth $1,378,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Strategic Advocates LLC raised its position in SBA Communications by 2.8% in the 4th quarter. Strategic Advocates LLC now owns 6,012 shares of the technology company’s stock worth $1,525,000 after purchasing an additional 161 shares during the last quarter. AGF Management Ltd. acquired a new stake in shares of SBA Communications in the 4th quarter valued at approximately $1,562,000. Versor Investments LP acquired a new stake in SBA Communications in the fourth quarter worth $927,000. Principal Securities Inc. bought a new position in SBA Communications during the fourth quarter worth about $442,000. Finally, Reaves W H & Co. Inc. lifted its holdings in shares of SBA Communications by 23.0% during the 4th quarter. Reaves W H & Co. Inc. now owns 308,532 shares of the technology company’s stock valued at $78,271,000 after purchasing an additional 57,753 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.

Insider Activity

In other news, Director Mary S. Chan sold 1,977 shares of SBA Communications stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total value of $430,966.23. Following the completion of the sale, the director now directly owns 4,622 shares in the company, valued at $1,007,549.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SBAC. Royal Bank of Canada reduced their target price on shares of SBA Communications from $250.00 to $235.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. BMO Capital Markets decreased their target price on shares of SBA Communications from $285.00 to $265.00 and set an “outperform” rating for the company in a research note on Tuesday, February 27th. Bank of America upgraded shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price target for the company in a research note on Thursday, March 7th. TD Cowen lowered their price objective on shares of SBA Communications from $266.00 to $253.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Finally, KeyCorp cut their target price on shares of SBA Communications from $276.00 to $227.00 and set an “overweight” rating for the company in a research note on Tuesday, April 30th. Eleven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $252.25.

SBA Communications Stock Up 1.6 %

Shares of NASDAQ:SBAC opened at $202.36 on Thursday. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $258.76. The stock has a market cap of $21.74 billion, a PE ratio of 39.68, a P/E/G ratio of 0.59 and a beta of 0.59. The business has a 50 day moving average of $206.49 and a 200-day moving average of $222.47.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, April 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.21. SBA Communications had a negative return on equity of 10.75% and a net margin of 20.61%. The company had revenue of $657.86 million during the quarter, compared to analysts’ expectations of $671.08 million. During the same quarter in the previous year, the company posted $3.13 earnings per share. The business’s revenue was down 2.6% on a year-over-year basis. Equities research analysts expect that SBA Communications Co. will post 12.53 earnings per share for the current year.

SBA Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Thursday, May 23rd will be given a $0.98 dividend. The ex-dividend date is Wednesday, May 22nd. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.94%. SBA Communications’s payout ratio is 76.86%.

SBA Communications Company Profile

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.