Oregon Public Employees Retirement Fund Buys 3,045 Shares of SBA Communications Corporation $SBAC

Oregon Public Employees Retirement Fund boosted its stake in shares of SBA Communications Corporation (NASDAQ:SBAC) by 33.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,273 shares of the technology company’s stock after acquiring an additional 3,045 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in SBA Communications were worth $2,373,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its position in SBA Communications by 272.8% in the first quarter. Jones Financial Companies Lllp now owns 753 shares of the technology company’s stock valued at $166,000 after buying an additional 551 shares in the last quarter. Empowered Funds LLC raised its stake in shares of SBA Communications by 12.6% in the first quarter. Empowered Funds LLC now owns 2,041 shares of the technology company’s stock valued at $449,000 after acquiring an additional 229 shares during the last quarter. Focus Partners Wealth boosted its holdings in shares of SBA Communications by 9.0% in the 1st quarter. Focus Partners Wealth now owns 3,236 shares of the technology company’s stock worth $712,000 after acquiring an additional 266 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in SBA Communications by 105.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock valued at $36,000 after purchasing an additional 84 shares in the last quarter. Finally, Parallel Advisors LLC raised its position in SBA Communications by 8.7% in the 2nd quarter. Parallel Advisors LLC now owns 1,022 shares of the technology company’s stock valued at $240,000 after purchasing an additional 82 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SBAC. Weiss Ratings restated a “hold (c-)” rating on shares of SBA Communications in a report on Friday. BMO Capital Markets decreased their price objective on shares of SBA Communications from $215.00 to $210.00 and set a “market perform” rating on the stock in a report on Tuesday, November 4th. Wells Fargo & Company lowered their price objective on shares of SBA Communications from $215.00 to $205.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 16th. Citigroup reduced their target price on shares of SBA Communications from $265.00 to $235.00 and set a “buy” rating on the stock in a research report on Thursday, October 16th. Finally, KeyCorp lowered their price target on shares of SBA Communications from $280.00 to $235.00 and set an “overweight” rating for the company in a report on Wednesday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $237.18.

SBA Communications Trading Up 2.1%

SBA Communications stock opened at $185.00 on Tuesday. The company has a market cap of $19.71 billion, a PE ratio of 24.12, a PEG ratio of 1.60 and a beta of 0.87. SBA Communications Corporation has a 1 year low of $179.89 and a 1 year high of $245.16. The company’s 50-day moving average is $192.32 and its two-hundred day moving average is $204.29.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, November 3rd. The technology company reported $3.30 EPS for the quarter, topping the consensus estimate of $3.21 by $0.09. SBA Communications had a net margin of 29.69% and a negative return on equity of 16.60%. The company had revenue of $732.33 million during the quarter, compared to analysts’ expectations of $715.65 million. During the same quarter in the previous year, the company earned $3.32 EPS. SBA Communications’s revenue was up 9.7% on a year-over-year basis. Research analysts forecast that SBA Communications Corporation will post 12.57 EPS for the current year.

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Thursday, November 13th were paid a $1.11 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.4%. SBA Communications’s dividend payout ratio is 57.89%.

SBA Communications Profile

SBA Communications Corporation (NASDAQ: SBAC) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its core business is the leasing of space on communications towers, rooftop sites and other wireless structures to mobile network operators, broadband providers and other wireless service customers. The company also provides site development, construction and ongoing site management services to support the deployment and operation of wireless networks.

In addition to traditional macro towers, SBA offers a range of infrastructure solutions designed for dense urban and suburban markets, including small cells, distributed antenna systems (DAS) and fiber backhaul and transport services.