Daiwa Securities Group Inc. Purchases 84,536 Shares of SBA Communications Co. (NASDAQ:SBAC)

Daiwa Securities Group Inc. boosted its holdings in SBA Communications Co. (NASDAQ:SBAC) by 384.3% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 106,531 shares of the technology company’s stock after buying an additional 84,536 shares during the period. Daiwa Securities Group Inc. owned 0.10% of SBA Communications worth $25,642,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new stake in shares of SBA Communications during the third quarter worth about $26,000. Capital Performance Advisors LLP bought a new position in shares of SBA Communications during the 3rd quarter valued at approximately $35,000. Ridgewood Investments LLC purchased a new position in shares of SBA Communications in the second quarter valued at $32,000. Family Firm Inc. bought a new stake in SBA Communications in the second quarter worth $36,000. Finally, Friedenthal Financial purchased a new stake in SBA Communications during the third quarter valued at $50,000. 97.35% of the stock is owned by institutional investors.

SBA Communications Price Performance

Shares of SBAC opened at $220.66 on Friday. The firm has a market capitalization of $23.73 billion, a price-to-earnings ratio of 34.80, a PEG ratio of 0.74 and a beta of 0.68. The company has a 50-day moving average of $234.22 and a 200 day moving average of $217.32. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $258.76.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $667.60 million for the quarter, compared to analysts’ expectations of $669.29 million. During the same period last year, the business posted $3.34 earnings per share. The business’s revenue was down 2.2% compared to the same quarter last year. On average, equities analysts anticipate that SBA Communications Co. will post 12.56 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 14th will be issued a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Thursday, November 14th. SBA Communications’s dividend payout ratio is 61.83%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SBAC shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. TD Cowen boosted their price objective on SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Morgan Stanley raised their price objective on SBA Communications from $232.00 to $252.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. JPMorgan Chase & Co. lifted their target price on SBA Communications from $228.00 to $250.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Finally, Barclays increased their price target on SBA Communications from $236.00 to $256.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $257.23.

Insider Activity

In related news, EVP Donald Day sold 1,500 shares of SBA Communications stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $242.86, for a total transaction of $364,290.00. Following the transaction, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at $1,213,814.28. This trade represents a 23.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.30% of the company’s stock.

SBA Communications 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.