Public Employees Retirement System of Ohio Invests $5.30 Million in SBA Communications Corporation $SBAC

Public Employees Retirement System of Ohio bought a new stake in SBA Communications Corporation (NASDAQ:SBAC) in the 2nd quarter, Holdings Channel reports. The fund bought 30,039 shares of the technology company’s stock, valued at approximately $5,301,000.

A number of other large investors have also added to or reduced their stakes in SBAC. Dodge & Cox lifted its holdings in SBA Communications by 24.1% in the 4th quarter. Dodge & Cox now owns 11,996,134 shares of the technology company’s stock worth $2,320,412,000 after buying an additional 2,328,837 shares in the last quarter. State Street Corp grew its stake in shares of SBA Communications by 3.3% during the fourth quarter. State Street Corp now owns 4,911,615 shares of the technology company’s stock valued at $950,054,000 after acquiring an additional 158,738 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of SBA Communications by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 3,085,112 shares of the technology company’s stock valued at $594,655,000 after acquiring an additional 16,153 shares in the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of SBA Communications by 9.7% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 2,034,920 shares of the technology company’s stock worth $393,615,000 after acquiring an additional 179,591 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of SBA Communications by 0.5% during the fourth quarter. Invesco Ltd. now owns 1,815,032 shares of the technology company’s stock worth $351,082,000 after acquiring an additional 9,656 shares during the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

SBA Communications Price Performance

Shares of SBAC opened at $186.42 on Thursday. The company has a market cap of $19.78 billion, a P/E ratio of 20.09, a PEG ratio of 1.89 and a beta of 0.99. The stock has a fifty day moving average price of $182.87 and a 200 day moving average price of $194.28. SBA Communications Corporation has a 12 month low of $162.41 and a 12 month high of $224.46.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, August 3rd. The technology company reported $1.87 earnings per share (EPS) 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 company had revenue of $715.27 million for the quarter, compared to analysts’ expectations of $706.01 million. During the same period last year, the business posted $3.17 earnings per share. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, research analysts anticipate that SBA Communications Corporation will post 11.41 earnings per share for the current year.

SBA Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Thursday, August 20th will be given a $1.25 dividend. 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 (DPR) is currently 53.88%.

Analysts Set New Price Targets

A number of research analysts recently commented on SBAC shares. Wolfe Research raised SBA Communications from a “hold” rating to an “outperform” rating in a report on Tuesday, August 4th. Weiss Ratings restated a “hold (c)” rating on shares of SBA Communications in a report on Monday, July 20th. BMO Capital Markets reaffirmed a “market perform” rating on shares of SBA Communications in a research report on Monday, August 24th. Barclays reduced their target price on SBA Communications from $245.00 to $208.00 and set an “overweight” rating for the company in a research note on Thursday, August 20th. Finally, UBS Group lowered shares of SBA Communications from a “market perform” rating to a “hold” rating in a research note on Monday, August 24th. Seven investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, SBA Communications presently has a consensus rating of “Hold” and a consensus price target of $225.53.

Insider Transactions at SBA Communications

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

About SBA Communications

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.