Partners Group Holding AG Purchases 21,136 Shares of SBA Communications Co. (NASDAQ:SBAC)

Partners Group Holding AG grew its position in SBA Communications Co. (NASDAQ:SBAC) by 15.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 155,951 shares of the technology company’s stock after acquiring an additional 21,136 shares during the quarter. SBA Communications accounts for 2.5% of Partners Group Holding AG’s portfolio, making the stock its 17th biggest holding. Partners Group Holding AG’s holdings in SBA Communications were worth $37,537,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of SBAC. Bayesian Capital Management LP purchased a new stake in SBA Communications during the first quarter valued at $715,000. Janus Henderson Group PLC boosted its stake in SBA Communications by 1,305.8% during the first quarter. Janus Henderson Group PLC now owns 224,985 shares of the technology company’s stock worth $48,732,000 after buying an additional 208,981 shares during the period. B. Riley Wealth Advisors Inc. increased its position in SBA Communications by 16.5% during the first quarter. B. Riley Wealth Advisors Inc. now owns 1,781 shares of the technology company’s stock valued at $356,000 after acquiring an additional 252 shares during the last quarter. California State Teachers Retirement System increased its position in SBA Communications by 1.2% during the first quarter. California State Teachers Retirement System now owns 176,380 shares of the technology company’s stock valued at $38,222,000 after acquiring an additional 2,043 shares during the last quarter. Finally, Tidal Investments LLC raised its stake in shares of SBA Communications by 105.4% in the first quarter. Tidal Investments LLC now owns 5,279 shares of the technology company’s stock valued at $1,144,000 after acquiring an additional 2,709 shares during the period. 97.35% of the stock is owned by hedge funds and other institutional investors.

SBA Communications Trading Up 2.4 %

SBAC opened at $225.98 on Tuesday. The company has a market capitalization of $24.30 billion, a price-to-earnings ratio of 35.64, a PEG ratio of 0.75 and a beta of 0.68. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $258.76. The business’s fifty day simple moving average is $233.84 and its 200-day simple moving average is $217.65.

SBA Communications (NASDAQ:SBAC) last issued its 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 for the quarter, compared to the consensus estimate of $669.29 million. SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The firm’s revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.34 earnings per share. On average, equities research 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 given a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend is Thursday, November 14th. SBA Communications’s payout ratio is 61.83%.

Insider Buying and Selling

In other news, EVP Donald Day sold 1,500 shares of SBA Communications 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 transaction, the executive vice president now owns 4,998 shares of the company’s stock, valued at $1,213,814.28. The trade was a 23.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. The Goldman Sachs Group upped their price target on shares of SBA Communications from $212.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. TD Cowen boosted their target price on SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. KeyCorp increased their price target on SBA Communications from $230.00 to $280.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Wells Fargo & Company raised their price target on SBA Communications from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Finally, 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 report on Monday, August 5th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $257.23.

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.