Burney Co. Lowers Position in SBA Communications Co. (NASDAQ:SBAC)

Burney Co. trimmed its position in SBA Communications Co. (NASDAQ:SBAC) by 74.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,862 shares of the technology company’s stock after selling 5,290 shares during the period. Burney Co.’s holdings in SBA Communications were worth $365,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in SBAC. Ballentine Partners LLC increased its stake in shares of SBA Communications by 2.7% in the 1st quarter. Ballentine Partners LLC now owns 2,068 shares of the technology company’s stock worth $448,000 after acquiring an additional 55 shares in the last quarter. Checchi Capital Advisers LLC increased its stake in shares of SBA Communications by 4.1% during the second quarter. Checchi Capital Advisers LLC now owns 1,457 shares of the technology company’s stock valued at $286,000 after purchasing an additional 57 shares in the last quarter. Industrial Alliance Investment Management Inc. lifted its holdings in shares of SBA Communications by 3.9% during the first quarter. Industrial Alliance Investment Management Inc. now owns 1,560 shares of the technology company’s stock valued at $338,000 after purchasing an additional 58 shares during the last quarter. Warwick Investment Management Inc. boosted its position in shares of SBA Communications by 6.1% in the 4th quarter. Warwick Investment Management Inc. now owns 1,061 shares of the technology company’s stock worth $269,000 after purchasing an additional 61 shares in the last quarter. Finally, True North Advisors LLC grew its stake in shares of SBA Communications by 6.6% in the 1st quarter. True North Advisors LLC now owns 1,022 shares of the technology company’s stock worth $221,000 after buying an additional 63 shares during the last quarter. Institutional investors own 97.35% of the company’s stock.

Insider Buying and Selling at SBA Communications

In other news, Director George R. Krouse, Jr. sold 325 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total transaction of $71,363.50. Following the completion of the transaction, the director now directly owns 8,084 shares in the company, valued at approximately $1,775,084.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other SBA Communications news, Chairman Jeffrey Stoops sold 49,765 shares of the business’s stock in a transaction that occurred 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 sale, the chairman now directly owns 109,583 shares of the company’s stock, valued at $24,328,521.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director George R. Krouse, Jr. sold 325 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total value of $71,363.50. Following the completion of the sale, the director now directly owns 8,084 shares of the company’s stock, valued at $1,775,084.72. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft boosted their target price on SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. StockNews.com downgraded shares of SBA Communications from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. KeyCorp lifted their target price on shares of SBA Communications from $227.00 to $230.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. The Goldman Sachs Group assumed coverage on shares of SBA Communications in a report on Monday, July 1st. They set a “neutral” rating and a $212.00 price target on the stock. Finally, Royal Bank of Canada boosted their price objective on shares of SBA Communications from $235.00 to $245.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, SBA Communications presently has a consensus rating of “Moderate Buy” and a consensus price target of $237.92.

SBA Communications Trading Down 0.5 %

SBA Communications stock traded down $1.13 during midday trading on Friday, hitting $226.54. The stock had a trading volume of 793,158 shares, compared to its average volume of 935,093. The company has a market capitalization of $24.34 billion, a PE ratio of 44.42, a P/E/G ratio of 0.67 and a beta of 0.65. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $258.76. The firm’s fifty day moving average is $209.98 and its two-hundred day moving average is $205.93.

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

SBA Communications Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Thursday, August 22nd will be paid a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Thursday, August 22nd. SBA Communications’s payout ratio is presently 76.86%.

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.