SBA Communications Co. (NASDAQ:SBAC) Shares Acquired by Toronto Dominion Bank

Toronto Dominion Bank boosted its position in SBA Communications Co. (NASDAQ:SBAC) by 0.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 64,433 shares of the technology company’s stock after purchasing an additional 427 shares during the period. Toronto Dominion Bank owned about 0.06% of SBA Communications worth $15,509,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SBAC. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of SBA Communications by 10.7% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 527 shares of the technology company’s stock valued at $127,000 after buying an additional 51 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of SBA Communications by 0.6% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 9,265 shares of the technology company’s stock worth $1,819,000 after purchasing an additional 53 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of SBA Communications by 32.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock valued at $52,000 after purchasing an additional 53 shares in the last quarter. Checchi Capital Advisers LLC lifted its stake in shares of SBA Communications by 4.1% in the second quarter. Checchi Capital Advisers LLC now owns 1,457 shares of the technology company’s stock valued at $286,000 after purchasing an additional 57 shares during the period. Finally, Sugarloaf Wealth Management LLC lifted its stake in shares of SBA Communications by 11.6% in the third quarter. Sugarloaf Wealth Management LLC now owns 558 shares of the technology company’s stock valued at $134,000 after purchasing an additional 58 shares during the period. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analyst Ratings Changes

SBAC has been the subject of a number of research analyst reports. StockNews.com raised shares of SBA Communications from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. Wells Fargo & Company lifted their price objective on SBA Communications from $220.00 to $240.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. BMO Capital Markets upped their target price on SBA Communications from $255.00 to $260.00 and gave the company an “outperform” rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. lifted their price target on SBA Communications from $228.00 to $250.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Finally, KeyCorp increased their price objective on shares of SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $257.23.

SBA Communications Stock Performance

Shares of 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 PE ratio of 34.08, a price-to-earnings-growth ratio of 0.73 and a beta of 0.67. The stock has a fifty day moving average of $229.66 and a two-hundred day moving average of $219.69.

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

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 14th were given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 1.81%. The ex-dividend date was Thursday, November 14th. SBA Communications’s dividend payout ratio (DPR) is 61.83%.

Insiders Place Their Bets

In other news, EVP Mark R. Ciarfella sold 3,545 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $224.33, for a total transaction of $795,249.85. Following the completion of the sale, the executive vice president now directly owns 33,588 shares in the company, valued at $7,534,796.04. This represents a 9.55 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.30% of the stock is currently 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.