Heitman Real Estate Securities LLC Acquires 15,034 Shares of SBA Communications Co. (NASDAQ:SBAC)

Heitman Real Estate Securities LLC lifted its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 38.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,354 shares of the technology company’s stock after purchasing an additional 15,034 shares during the quarter. Heitman Real Estate Securities LLC’s holdings in SBA Communications were worth $13,083,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Diamond Hill Capital Management Inc. raised its position in shares of SBA Communications by 13.4% during the second quarter. Diamond Hill Capital Management Inc. now owns 1,973,867 shares of the technology company’s stock worth $387,470,000 after acquiring an additional 233,179 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in SBA Communications by 5.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,269,786 shares of the technology company’s stock worth $305,637,000 after purchasing an additional 62,555 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of SBA Communications by 2,821.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company’s stock worth $292,714,000 after purchasing an additional 1,174,469 shares during the period. American Century Companies Inc. boosted its stake in shares of SBA Communications by 15.5% in the 2nd quarter. American Century Companies Inc. now owns 1,190,288 shares of the technology company’s stock valued at $233,654,000 after purchasing an additional 159,433 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position 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 buying an additional 700,791 shares during the period. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently commented on SBAC. StockNews.com upgraded SBA Communications from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. Morgan Stanley raised their price objective on shares of SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Wells Fargo & Company lifted their price objective 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. Barclays increased their target price on shares of SBA Communications from $236.00 to $256.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. lifted their price target on shares of SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Three equities research 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.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $257.23.

Insider Activity

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

SBA Communications Stock Performance

SBAC stock opened at $222.94 on Tuesday. The company has a market capitalization of $23.97 billion, a price-to-earnings ratio of 35.16, a PEG ratio of 0.76 and a beta of 0.67. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $258.76. The stock has a fifty day moving average of $232.78 and a 200-day moving average of $218.45.

SBA Communications (NASDAQ:SBAC) last posted its quarterly 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). The business had revenue of $667.60 million during the quarter, compared to the consensus estimate of $669.29 million. SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period last year, the firm earned $3.34 EPS. Equities analysts predict that SBA Communications Co. will post 12.56 EPS for the current year.

SBA Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th will be issued a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend is Thursday, November 14th. SBA Communications’s payout ratio is currently 61.83%.

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.