SBA Communications Corporation $SBAC Shares Purchased by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. grew its position in shares of SBA Communications Corporation (NASDAQ:SBAC) by 25.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 35,499 shares of the technology company’s stock after purchasing an additional 7,308 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in SBA Communications were worth $5,684,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Raiffeisen Bank International AG raised its holdings in SBA Communications by 184.8% in the 2nd quarter. Raiffeisen Bank International AG now owns 188 shares of the technology company’s stock valued at $34,000 after buying an additional 122 shares during the last quarter. CX Institutional boosted its position in SBA Communications by 44.2% during the 2nd quarter. CX Institutional now owns 212 shares of the technology company’s stock worth $37,000 after buying an additional 65 shares during the period. Eastern Bank acquired a new stake in SBA Communications during the 2nd quarter worth approximately $44,000. IFP Advisors Inc grew its holdings in SBA Communications by 392.0% during the 2nd quarter. IFP Advisors Inc now owns 369 shares of the technology company’s stock worth $65,000 after acquiring an additional 294 shares during the last quarter. Finally, Contravisory Investment Management Inc. bought a new stake in SBA Communications during the 2nd quarter worth approximately $68,000. 97.35% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director George R. Krouse, Jr. sold 300 shares of SBA Communications stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $182.67, for a total value of $54,801.00. Following the completion of the transaction, the director directly owned 8,512 shares of the company’s stock, valued at approximately $1,554,887.04. This trade represents a 3.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 9.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SBAC. JPMorgan Chase & Co. dropped their price target on shares of SBA Communications from $230.00 to $220.00 and set a “neutral” rating for the company in a research note on Tuesday, August 4th. Barclays cut their price target on shares of SBA Communications from $208.00 to $207.00 and set an “overweight” rating on the stock in a report on Wednesday, September 30th. Wolfe Research raised SBA Communications from a “hold” rating to an “outperform” rating in a report on Tuesday, August 4th. Morgan Stanley decreased their price target on SBA Communications from $215.00 to $205.00 and set an “equal weight” rating for the company in a research note on Monday, September 21st. Finally, Truist Financial lowered their price objective on SBA Communications from $248.00 to $238.00 and set a “buy” rating for the company in a research report on Wednesday, August 5th. Eight analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, SBA Communications has an average rating of “Hold” and a consensus target price of $226.53.

SBA Communications Stock Up 3.6%

SBAC opened at $184.75 on Friday. SBA Communications Corporation has a twelve month low of $156.60 and a twelve month high of $224.46. The company has a fifty day moving average of $179.19 and a 200-day moving average of $191.16. The stock has a market cap of $19.60 billion, a PE ratio of 19.91, a price-to-earnings-growth ratio of 1.85 and a beta of 1.00.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, August 3rd. The technology company reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.02. The business had revenue of $715.27 million during the quarter, compared to the consensus estimate of $706.01 million. SBA Communications had a net margin of 34.51% and a negative return on equity of 20.67%. SBA Communications’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the firm earned $3.17 earnings per share. Sell-side analysts anticipate that SBA Communications Corporation will post 11.40 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 17th. Shareholders of record on Thursday, August 20th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Thursday, August 20th. SBA Communications’s dividend payout ratio (DPR) is presently 53.88%.

About SBA Communications

SBA Communications Corporation is a real estate investment trust that owns and operates wireless communications infrastructure. The company’s portfolio primarily consists of wireless communications towers and related sites that support cellular, wireless broadband, and other communications equipment.

SBA Communications leases antenna space on its towers to wireless service providers, government agencies, and other communications companies. It also provides site development services, including zoning, permitting, construction, and project management, as well as tower construction and acquisition services in selected markets.

Founded in 1989 and headquartered in Boca Raton, Florida, SBA Communications serves customers across the United States and in parts of Central and South America.