Brasada Capital Management LP Buys 368 Shares of SBA Communications Co. (NASDAQ:SBAC)

Brasada Capital Management LP lifted its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 2.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,130 shares of the technology company’s stock after purchasing an additional 368 shares during the period. SBA Communications accounts for about 1.2% of Brasada Capital Management LP’s portfolio, making the stock its 29th biggest position. Brasada Capital Management LP’s holdings in SBA Communications were worth $4,372,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in SBAC. Dorsey Wright & Associates boosted its position in shares of SBA Communications by 0.6% during the 2nd quarter. Dorsey Wright & Associates now owns 15,083 shares of the technology company’s stock valued at $3,391,000 after purchasing an additional 86 shares in the last quarter. Crossmark Global Holdings Inc. boosted its position in shares of SBA Communications by 4.8% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 7,411 shares of the technology company’s stock valued at $1,666,000 after purchasing an additional 338 shares in the last quarter. Retirement Systems of Alabama boosted its position in shares of SBA Communications by 0.7% during the 2nd quarter. Retirement Systems of Alabama now owns 52,813 shares of the technology company’s stock valued at $11,874,000 after purchasing an additional 386 shares in the last quarter. Exane Derivatives bought a new stake in shares of SBA Communications during the 2nd quarter valued at about $223,000. Finally, Xact Kapitalforvaltning AB boosted its position in shares of SBA Communications by 6.2% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 20,122 shares of the technology company’s stock valued at $4,524,000 after purchasing an additional 1,175 shares in the last quarter. Institutional investors own 93.23% of the company’s stock.

Several brokerages recently commented on SBAC. JPMorgan Chase & Co. lowered SBA Communications from an “overweight” rating to a “neutral” rating and upped their target price for the company from $220.00 to $270.00 in a research report on Thursday, August 1st. Zacks Investment Research upgraded SBA Communications from a “sell” rating to a “hold” rating and set a $253.00 target price on the stock in a research report on Saturday, November 2nd. Morgan Stanley lowered SBA Communications from an “overweight” rating to an “equal” rating and upped their target price for the company from $222.00 to $249.00 in a research report on Thursday, September 19th. BidaskClub lowered SBA Communications from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, ValuEngine lowered SBA Communications from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $248.73.

In other news, CFO Brendan Thomas Cavanagh sold 54,411 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $268.07, for a total value of $14,585,956.77. Following the completion of the sale, the chief financial officer now directly owns 98,751 shares of the company’s stock, valued at $26,472,180.57. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Brian D. Lazarus sold 20,676 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $261.00, for a total value of $5,396,436.00. Following the completion of the sale, the senior vice president now directly owns 17,829 shares of the company’s stock, valued at $4,653,369. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 99,529 shares of company stock worth $26,257,774. 2.50% of the stock is owned by company insiders.

SBAC stock opened at $228.46 on Friday. The stock’s 50 day simple moving average is $240.91 and its 200 day simple moving average is $234.10. SBA Communications Co. has a fifty-two week low of $155.19 and a fifty-two week high of $270.42. The company has a market cap of $25.87 billion, a P/E ratio of 30.06, a price-to-earnings-growth ratio of 2.93 and a beta of 0.65.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, October 28th. The technology company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.97 by ($1.78). SBA Communications had a negative return on equity of 4.16% and a net margin of 6.89%. The firm had revenue of $486.60 million for the quarter, compared to analyst estimates of $497.48 million. During the same period last year, the company posted $1.92 earnings per share. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. Equities analysts predict that SBA Communications Co. will post 7.81 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, November 21st will be paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Wednesday, November 20th. SBA Communications’s dividend payout ratio (DPR) is currently 19.47%.

SBA Communications Company Profile

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America. By “Building Better Wireless,” SBA generates revenue from two primary businesses – site leasing and site development services. The primary focus of the Company is the leasing of antenna space on its multi-tenant communication sites to a variety of wireless service providers under long-term lease contracts.

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

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