Oak Thistle LLC Buys 2,863 Shares of SBA Communications Co. (NASDAQ:SBAC)

Oak Thistle LLC boosted its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 76.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,623 shares of the technology company’s stock after acquiring an additional 2,863 shares during the quarter. Oak Thistle LLC’s holdings in SBA Communications were worth $1,350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of SBAC. State Street Corp grew its holdings in shares of SBA Communications by 1.8% in the third quarter. State Street Corp now owns 4,643,527 shares of the technology company’s stock worth $1,117,697,000 after purchasing an additional 81,566 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in SBA Communications by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock worth $1,024,049,000 after acquiring an additional 605,872 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of SBA Communications by 5.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,269,786 shares of the technology company’s stock valued at $305,637,000 after acquiring an additional 62,555 shares during the period. Victory Capital Management Inc. raised its stake in shares of SBA Communications by 2,821.5% during the third quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company’s stock valued at $292,714,000 after acquiring an additional 1,174,469 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of SBA Communications by 377.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 886,384 shares of the technology company’s stock worth $213,353,000 after purchasing an additional 700,791 shares during the period. 97.35% of the stock is owned by hedge funds and other institutional investors.

SBA Communications Price Performance

SBAC opened at $195.02 on Wednesday. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $252.64. The stock has a 50-day moving average price of $212.49 and a 200-day moving average price of $221.36. The firm has a market cap of $20.97 billion, a PE ratio of 30.76, a P/E/G ratio of 0.72 and a beta of 0.69.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $667.60 million during the quarter, compared to the consensus estimate of $669.29 million. During the same quarter in the prior year, the company posted $3.34 EPS. The company’s quarterly revenue was down 2.2% on a year-over-year basis. As a group, sell-side analysts anticipate that SBA Communications Co. will post 12.56 EPS for the current year.

SBA Communications Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend was Thursday, November 14th. SBA Communications’s dividend payout ratio (DPR) is presently 61.83%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Barclays decreased their target price on SBA Communications from $257.00 to $254.00 and set an “overweight” rating for the company in a report on Monday. BMO Capital Markets reaffirmed a “market perform” rating and issued a $230.00 target price (down from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. JPMorgan Chase & Co. boosted their price target on shares of SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. TD Cowen raised their price objective on shares of SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Finally, Wells Fargo & Company upped their target price on SBA Communications from $220.00 to $240.00 and gave the stock an “equal weight” rating in a report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $254.77.

Insider Buying and Selling at SBA Communications

In other news, EVP Donald Day sold 2,321 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $203.43, for a total value of $472,161.03. Following the transaction, the executive vice president now owns 4,998 shares of the company’s stock, valued at $1,016,743.14. This trade represents a 31.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mark R. Ciarfella sold 3,545 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $7,534,796.04. This represents a 9.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate 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.