MJP Associates Inc. ADV Increases Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

MJP Associates Inc. ADV increased its holdings in SBA Communications Co. (NASDAQ:SBAC) by 14.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,845 shares of the technology company’s stock after purchasing an additional 595 shares during the period. MJP Associates Inc. ADV’s holdings in SBA Communications were worth $951,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in shares of SBA Communications by 54.9% during the first quarter. Principal Financial Group Inc. now owns 4,300,157 shares of the technology company’s stock worth $931,844,000 after purchasing an additional 1,524,302 shares in the last quarter. Norges Bank acquired a new position in shares of SBA Communications during the fourth quarter worth about $286,079,000. The Manufacturers Life Insurance Company lifted its stake in shares of SBA Communications by 111.8% in the fourth quarter. The Manufacturers Life Insurance Company now owns 734,795 shares of the technology company’s stock worth $186,410,000 after acquiring an additional 387,855 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of SBA Communications by 144.7% in the first quarter. BNP Paribas Financial Markets now owns 359,736 shares of the technology company’s stock worth $77,955,000 after acquiring an additional 212,739 shares in the last quarter. Finally, Westfield Capital Management Co. LP acquired a new position in shares of SBA Communications in the fourth quarter worth about $53,679,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Performance

Shares of SBAC stock traded down $3.98 during mid-day trading on Friday, hitting $212.91. 735,452 shares of the stock traded hands, compared to its average volume of 1,119,476. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $258.76. The firm has a market cap of $22.88 billion, a price-to-earnings ratio of 41.75, a price-to-earnings-growth ratio of 0.70 and a beta of 0.65. The company’s 50-day simple moving average is $203.13 and its 200-day simple moving average is $206.01.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, July 29th. The technology company reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.07 by ($0.56). The firm had revenue of $660.50 million for the quarter, compared to analyst estimates of $665.21 million. SBA Communications had a net margin of 19.22% and a negative return on equity of 9.85%. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter last year, the business posted $3.24 earnings per share. Analysts forecast that SBA Communications Co. will post 12.53 earnings per share for the current year.

SBA Communications Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Thursday, August 22nd will be given a $0.98 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $3.92 annualized dividend and a dividend yield of 1.84%. SBA Communications’s dividend payout ratio (DPR) is presently 76.86%.

Insider Transactions at SBA Communications

In related news, Chairman Jeffrey Stoops sold 49,765 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the completion of the sale, the chairman now directly owns 109,583 shares in the company, valued at $24,328,521.83. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on SBAC. Wells Fargo & Company cut SBA Communications from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $230.00 to $220.00 in a research note on Monday, July 15th. StockNews.com cut SBA Communications from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Royal Bank of Canada upped their price objective on SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. KeyCorp upped their price objective on SBA Communications from $227.00 to $230.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, Barclays cut their price objective on SBA Communications from $240.00 to $236.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 30th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $241.67.

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.