Skandinaviska Enskilda Banken AB publ Boosts Position in SBA Communications Co. (NASDAQ:SBAC)

Skandinaviska Enskilda Banken AB publ boosted its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 6.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 25,150 shares of the technology company’s stock after acquiring an additional 1,578 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in SBA Communications were worth $8,314,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Trustcore Financial Services LLC bought a new stake in SBA Communications during the third quarter valued at about $44,000. Parisi Gray Wealth Management bought a new position in shares of SBA Communications in the second quarter worth about $73,000. Global Retirement Partners LLC boosted its stake in shares of SBA Communications by 28.2% in the third quarter. Global Retirement Partners LLC now owns 291 shares of the technology company’s stock worth $96,000 after acquiring an additional 64 shares during the period. JFS Wealth Advisors LLC bought a new position in shares of SBA Communications in the third quarter worth about $125,000. Finally, Berman Capital Advisors LLC boosted its stake in shares of SBA Communications by 8.3% in the second quarter. Berman Capital Advisors LLC now owns 393 shares of the technology company’s stock worth $125,000 after acquiring an additional 30 shares during the period. 93.52% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:SBAC opened at $326.27 on Friday. SBA Communications Co. has a 52-week low of $232.88 and a 52-week high of $391.15. The stock has a market cap of $35.74 billion, a P/E ratio of 124.06 and a beta of 0.31. The business’s 50 day moving average is $357.19 and its 200 day moving average is $348.30.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data on Sunday, October 31st. The technology company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.40). SBA Communications had a negative return on equity of 5.99% and a net margin of 13.09%. The firm had revenue of $589.30 million during the quarter, compared to the consensus estimate of $577.28 million. During the same period last year, the company earned $2.38 EPS. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that SBA Communications Co. will post 10.03 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 16th. Investors of record on Thursday, November 18th were paid a $0.58 dividend. The ex-dividend date of this dividend was Wednesday, November 17th. This represents a $2.32 annualized dividend and a yield of 0.71%. SBA Communications’s dividend payout ratio (DPR) is currently 88.21%.

A number of research firms have recently weighed in on SBAC. Jefferies Financial Group lowered SBA Communications from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $405.00 to $377.00 in a research note on Monday, January 10th. Morgan Stanley boosted their target price on SBA Communications from $405.00 to $407.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 1st. Barclays decreased their price objective on SBA Communications from $378.00 to $376.00 and set an “overweight” rating on the stock in a research report on Friday. KeyCorp upped their price objective on SBA Communications from $373.00 to $379.00 and gave the company an “overweight” rating in a research report on Tuesday, November 2nd. Finally, Royal Bank of Canada upped their price objective on SBA Communications from $370.00 to $380.00 and gave the company an “outperform” rating in a research report on Monday, November 8th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $377.25.

In other SBA Communications news, Director George R. Krouse, Jr. sold 1,000 shares of the stock in a transaction on Friday, November 19th. The stock was sold at an average price of $350.00, for a total transaction of $350,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Mark R. Ciarfella sold 3,000 shares of the firm’s stock in a transaction on Monday, December 13th. The stock was sold at an average price of $365.67, for a total value of $1,097,010.00. The disclosure for this sale can be found here. In the last three months, insiders sold 8,087 shares of company stock worth $2,954,776. 2.20% of the stock is owned by insiders.

SBA Communications Company Profile

SBA Communications Corp. is a real estate investment trust, which engages in the provision of wireless communications infrastructures. It operates through the following business segments: Domestic Site Leasing, International Site Leasing, and Site Development. The Domestic Site Leasing segment includes AT&T, Sprint, T-Mobile, and Verizon Wireless.

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Institutional Ownership by Quarter for SBA Communications (NASDAQ:SBAC)

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