SBA Communications Co. (NASDAQ:SBAC) EVP Sells $364,290.00 in Stock

SBA Communications Co. (NASDAQ:SBAC) EVP Donald Day sold 1,500 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $242.86, for a total value of $364,290.00. Following the sale, the executive vice president now owns 4,998 shares of the company’s stock, valued at $1,213,814.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

SBA Communications Trading Down 0.0 %

SBAC stock traded down $0.09 during midday trading on Tuesday, hitting $245.00. The stock had a trading volume of 651,286 shares, compared to its average volume of 930,379. The business has a fifty day moving average price of $222.13 and a two-hundred day moving average price of $208.68. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $258.76. The firm has a market cap of $26.32 billion, a P/E ratio of 48.04, a price-to-earnings-growth ratio of 0.74 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data 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 business had revenue of $660.50 million during the quarter, compared to analyst estimates of $665.21 million. During the same period in the prior year, the firm earned $3.24 earnings per share. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, equities analysts anticipate that SBA Communications Co. will post 12.53 EPS for the current year.

SBA Communications Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Thursday, August 22nd will be issued a $0.98 dividend. The ex-dividend date is Thursday, August 22nd. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.60%. SBA Communications’s dividend payout ratio is presently 76.86%.

Analyst Ratings Changes

SBAC has been the subject of several recent analyst reports. The Goldman Sachs Group initiated coverage on SBA Communications in a research report on Monday, July 1st. They set a “neutral” rating and a $212.00 price objective for the company. BMO Capital Markets reduced their price target on shares of SBA Communications from $250.00 to $245.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. KeyCorp raised their target price on shares of SBA Communications from $227.00 to $230.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, Wells Fargo & Company cut SBA Communications from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $230.00 to $220.00 in a research note on Monday, July 15th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $237.92.

Institutional Trading of SBA Communications

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in SBA Communications by 0.5% during the first quarter. Vanguard Group Inc. now owns 17,368,209 shares of the technology company’s stock worth $3,763,691,000 after buying an additional 88,339 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of SBA Communications by 54.9% in the 1st quarter. Principal Financial Group Inc. now owns 4,300,157 shares of the technology company’s stock worth $931,844,000 after acquiring an additional 1,524,302 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its position in shares of SBA Communications by 13.4% during the second quarter. Diamond Hill Capital Management Inc. now owns 1,973,867 shares of the technology company’s stock valued at $387,470,000 after purchasing an additional 233,179 shares in the last quarter. American Century Companies Inc. boosted its holdings in SBA Communications by 15.5% during the second quarter. American Century Companies Inc. now owns 1,190,288 shares of the technology company’s stock worth $233,654,000 after purchasing an additional 159,433 shares during the last quarter. Finally, Norges Bank bought a new stake in SBA Communications in the 4th quarter worth about $286,079,000. 97.35% of the stock is owned by institutional investors.

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.