The Manufacturers Life Insurance Company Acquires 1,539 Shares of SBA Communications Co. (NASDAQ:SBAC)

The Manufacturers Life Insurance Company raised its holdings in SBA Communications Co. (NASDAQ:SBAC) by 1.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 87,054 shares of the technology company’s stock after acquiring an additional 1,539 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.08% of SBA Communications worth $20,954,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in SBA Communications in the third quarter valued at about $26,000. Capital Performance Advisors LLP acquired a new position in shares of SBA Communications in the 3rd quarter valued at $35,000. Ridgewood Investments LLC bought a new stake in shares of SBA Communications in the 2nd quarter valued at $32,000. Family Firm Inc. bought a new position in SBA Communications during the second quarter worth about $36,000. Finally, Friedenthal Financial acquired a new position in SBA Communications in the third quarter valued at about $50,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Royal Bank of Canada lifted their price objective on SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Wells Fargo & Company lifted their price target on shares of SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Morgan Stanley upped their price target on shares of SBA Communications from $232.00 to $252.00 and gave the company an “overweight” rating in a report on Wednesday, September 18th. 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, BMO Capital Markets upped their target price on shares of SBA Communications from $255.00 to $260.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $257.23.

SBA Communications Stock Down 1.0 %

NASDAQ:SBAC opened at $226.25 on Friday. The firm has a market capitalization of $24.33 billion, a price-to-earnings ratio of 35.69, a price-to-earnings-growth ratio of 0.77 and a beta of 0.68. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $258.76. The stock’s 50 day moving average price is $232.78 and its two-hundred day moving average price is $218.33.

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

SBA Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 14th will be issued a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Thursday, November 14th. SBA Communications’s payout ratio is currently 61.83%.

Insiders Place Their Bets

In other SBA Communications news, EVP Donald Day sold 1,500 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $242.86, for a total transaction of $364,290.00. Following the completion of the sale, the executive vice president now owns 4,998 shares of the company’s stock, valued at $1,213,814.28. This trade represents a 23.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.30% of the company’s stock.

SBA Communications 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.