SBA Communications Co. (NASDAQ:SBAC) Position Boosted by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. lifted its stake in SBA Communications Co. (NASDAQ:SBAC) by 4.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,011 shares of the technology company’s stock after acquiring an additional 1,343 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in SBA Communications were worth $7,464,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SBAC. MML Investors Services LLC grew its stake in shares of SBA Communications by 5.3% in the 3rd quarter. MML Investors Services LLC now owns 8,028 shares of the technology company’s stock valued at $1,932,000 after buying an additional 407 shares in the last quarter. Zimmer Partners LP increased its stake in shares of SBA Communications by 346.2% during the 3rd quarter. Zimmer Partners LP now owns 156,600 shares of the technology company’s stock worth $37,694,000 after purchasing an additional 121,500 shares during the last quarter. National Bank of Canada FI raised its holdings in shares of SBA Communications by 142.7% during the 3rd quarter. National Bank of Canada FI now owns 71,826 shares of the technology company’s stock valued at $17,288,000 after purchasing an additional 42,230 shares in the last quarter. EP Wealth Advisors LLC acquired a new stake in shares of SBA Communications in the 3rd quarter valued at $557,000. Finally, State Street Corp boosted its holdings in SBA Communications by 1.8% in the third quarter. State Street Corp now owns 4,643,527 shares of the technology company’s stock worth $1,117,697,000 after purchasing an additional 81,566 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Price Performance

SBAC opened at $216.05 on Friday. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $258.76. The company has a market capitalization of $23.23 billion, a P/E ratio of 34.08, a P/E/G ratio of 0.73 and a beta of 0.67. The firm’s fifty day moving average price is $229.66 and its two-hundred day moving average price is $219.69.

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

SBA Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 14th were issued a dividend of $0.98 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.81%. SBA Communications’s payout ratio is presently 61.83%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. The Goldman Sachs Group raised their target price on SBA Communications from $212.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. Raymond James boosted their target price on SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 29th. Morgan Stanley increased their price target on SBA Communications from $232.00 to $252.00 and gave the company an “overweight” rating in a report on Wednesday, September 18th. Barclays boosted their price objective on shares of SBA Communications from $236.00 to $256.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, KeyCorp boosted their target price on shares of SBA Communications from $230.00 to $280.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $257.23.

Insider Transactions at SBA Communications

In other SBA Communications news, EVP Mark R. Ciarfella sold 3,545 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the transaction, the executive vice president now owns 33,588 shares of the company’s stock, valued at approximately $7,534,796.04. The trade was a 9.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is owned by insiders.

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.