SBA Communications Co. (NASDAQ:SBAC) Shares Bought by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. grew its holdings in SBA Communications Co. (NASDAQ:SBAC) by 21.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,847 shares of the technology company’s stock after acquiring an additional 3,474 shares during the quarter. Daiwa Securities Group Inc.’s holdings in SBA Communications were worth $5,035,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its stake in SBA Communications by 0.8% in the 3rd quarter. Principal Financial Group Inc. now owns 2,801,806 shares of the technology company’s stock worth $560,838,000 after purchasing an additional 21,792 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of SBA Communications by 15.9% during the first quarter. JPMorgan Chase & Co. now owns 2,537,428 shares of the technology company’s stock worth $662,447,000 after buying an additional 348,105 shares during the period. Geode Capital Management LLC grew its holdings in shares of SBA Communications by 2.0% during the first quarter. Geode Capital Management LLC now owns 2,531,538 shares of the technology company’s stock valued at $659,594,000 after buying an additional 49,794 shares during the last quarter. Invesco Ltd. increased its position in shares of SBA Communications by 140.6% in the 3rd quarter. Invesco Ltd. now owns 2,143,877 shares of the technology company’s stock valued at $429,140,000 after acquiring an additional 1,252,764 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in SBA Communications by 115.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,358,037 shares of the technology company’s stock worth $271,838,000 after acquiring an additional 727,163 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on SBAC shares. BMO Capital Markets cut their price objective on SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a report on Tuesday, February 27th. Barclays cut their price target on shares of SBA Communications from $260.00 to $255.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Bank of America upgraded shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price objective for the company in a research note on Thursday, March 7th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $268.00.

Insider Transactions at SBA Communications

In related news, Director Mary S. Chan sold 1,977 shares of SBA Communications stock in a transaction 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 sale, the director now owns 4,622 shares of the company’s stock, valued at approximately $1,007,549.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

SBA Communications Stock Performance

Shares of NASDAQ SBAC opened at $196.06 on Friday. SBA Communications Co. has a 1 year low of $185.23 and a 1 year high of $264.06. The company’s fifty day moving average price is $211.29 and its 200 day moving average price is $222.30. The company has a market capitalization of $21.20 billion, a PE ratio of 42.53, a price-to-earnings-growth ratio of 1.20 and a beta of 0.56.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, February 26th. The technology company reported $1.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.37 by ($0.36). SBA Communications had a negative return on equity of 9.70% and a net margin of 18.51%. The firm had revenue of $675.00 million for the quarter, compared to analysts’ expectations of $682.11 million. During the same period in the previous year, the company earned $3.11 earnings per share. The company’s revenue was down 1.6% compared to the same quarter last year. On average, equities analysts expect that SBA Communications Co. will post 12.61 EPS for the current year.

SBA Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a $0.98 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This is a boost from SBA Communications’s previous quarterly dividend of $0.85. This represents a $3.92 dividend on an annualized basis and a dividend yield of 2.00%. SBA Communications’s payout ratio is 85.03%.

About SBA Communications

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.