Adelante Capital Management LLC Buys Shares of 15,505 SBA Communications Corporation $SBAC

Adelante Capital Management LLC bought a new position in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 15,505 shares of the technology company's stock, valued at approximately $2,736,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in SBA Communications by 5.7% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 267,659 shares of the technology company's stock valued at $46,067,000 after purchasing an additional 14,317 shares during the last quarter. Morningstar Investment Management LLC acquired a new position in SBA Communications during the 4th quarter worth $1,807,000. Plato Investment Management Ltd bought a new position in shares of SBA Communications in the second quarter worth $1,011,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in SBA Communications by 6.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 226,271 shares of the technology company's stock valued at $43,553,000 after buying an additional 13,383 shares during the period. Finally, UBS Group AG lifted its stake in shares of SBA Communications by 12.3% in the 4th quarter. UBS Group AG now owns 673,127 shares of the technology company's stock worth $130,203,000 after acquiring an additional 73,980 shares during the period. Institutional investors and hedge funds own 97.35% of the company's stock.

Insider Transactions at SBA Communications

In other SBA Communications news, Director George R. Krouse, Jr. sold 300 shares of the firm's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $182.67, for a total value of $54,801.00. Following the sale, the director directly owned 8,512 shares in the company, valued at $1,554,887.04. This trade represents a 3.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 9.50% of the stock is owned by company insiders.

SBA Communications Trading Down 0.9%

Shares of NASDAQ:SBAC opened at $185.98 on Thursday. The stock has a market capitalization of $19.73 billion, a PE ratio of 20.04, a P/E/G ratio of 1.87 and a beta of 0.99. SBA Communications Corporation has a 1 year low of $162.41 and a 1 year high of $224.46. The firm has a fifty day moving average price of $182.74 and a 200 day moving average price of $194.29.

SBA Communications (NASDAQ:SBAC - Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The technology company reported $1.87 earnings per share for the quarter, beating analysts' consensus estimates of $1.85 by $0.02. SBA Communications had a negative return on equity of 20.67% and a net margin of 34.51%.The business had revenue of $715.27 million for the quarter, compared to the consensus estimate of $706.01 million. During the same period last year, the business earned $3.17 EPS. The firm's revenue was up 2.3% compared to the same quarter last year. On average, sell-side analysts forecast that SBA Communications Corporation will post 11.41 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Thursday, August 20th will be paid a dividend of $1.25 per share. The ex-dividend date is Thursday, August 20th. This represents a $5.00 annualized dividend and a yield of 2.7%. SBA Communications's dividend payout ratio is presently 53.88%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SBAC. KeyCorp lifted their target price on SBA Communications from $235.00 to $250.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. The Goldman Sachs Group assumed coverage on shares of SBA Communications in a report on Friday, June 26th. They issued a "neutral" rating and a $205.00 target price for the company. Morgan Stanley reduced their target price on SBA Communications from $225.00 to $215.00 and set an "equal weight" rating for the company in a report on Tuesday, August 4th. Barclays decreased their price target on shares of SBA Communications from $245.00 to $208.00 and set an "overweight" rating for the company in a report on Thursday, August 20th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of SBA Communications in a research report on Monday, July 20th. Seven analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $225.53.

SBA Communications Company 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.

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