SBA Communications Co. (NASDAQ:SBAC) Short Interest Update

SBA Communications Co. (NASDAQ:SBAC) saw a significant decrease in short interest in the month of August. As of August 31st, there was short interest totalling 1,400,000 shares, a decrease of 25.1% from the August 15th total of 1,870,000 shares. Based on an average daily trading volume, of 549,300 shares, the short-interest ratio is currently 2.5 days. Currently, 1.3% of the company’s stock are short sold.

In other news, VP Thomas P. Hunt sold 50,000 shares of the company’s stock in a transaction on Thursday, August 19th. The stock was sold at an average price of $357.69, for a total transaction of $17,884,500.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Brian D. Lazarus sold 24,263 shares of the company’s stock in a transaction on Friday, September 3rd. The stock was sold at an average price of $366.17, for a total value of $8,884,382.71. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 292,752 shares of company stock valued at $105,204,175. 2.20% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of the company. Berman Capital Advisors LLC lifted its stake in SBA Communications by 8.3% in the 2nd quarter. Berman Capital Advisors LLC now owns 393 shares of the technology company’s stock valued at $125,000 after buying an additional 30 shares in the last quarter. Capital Asset Advisory Services LLC lifted its stake in SBA Communications by 2.8% in the 2nd quarter. Capital Asset Advisory Services LLC now owns 1,195 shares of the technology company’s stock valued at $381,000 after buying an additional 33 shares in the last quarter. CSat Investment Advisory L.P. lifted its stake in SBA Communications by 57.1% in the 1st quarter. CSat Investment Advisory L.P. now owns 110 shares of the technology company’s stock valued at $31,000 after buying an additional 40 shares in the last quarter. Clearstead Advisors LLC lifted its stake in SBA Communications by 5.2% in the 2nd quarter. Clearstead Advisors LLC now owns 825 shares of the technology company’s stock valued at $263,000 after buying an additional 41 shares in the last quarter. Finally, Seeyond lifted its stake in SBA Communications by 0.5% in the 2nd quarter. Seeyond now owns 9,059 shares of the technology company’s stock valued at $2,887,000 after buying an additional 41 shares in the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

SBAC has been the topic of several research reports. Cowen upped their target price on SBA Communications from $337.00 to $347.00 and gave the company an “outperform” rating in a research report on Tuesday, August 3rd. Royal Bank of Canada upped their target price on SBA Communications from $335.00 to $370.00 and gave the company an “outperform” rating in a research report on Thursday, August 5th. KeyCorp upped their target price on SBA Communications from $365.00 to $373.00 and gave the company an “overweight” rating in a research report on Tuesday, August 3rd. Citigroup upped their target price on SBA Communications from $343.00 to $404.00 and gave the company a “buy” rating in a research report on Thursday, August 19th. They noted that the move was a valuation call. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of SBA Communications from $325.00 to $353.00 and gave the company a “buy” rating in a report on Thursday, July 8th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $360.75.

Shares of SBAC stock traded up $1.13 during mid-day trading on Monday, hitting $353.83. 7,011 shares of the stock were exchanged, compared to its average volume of 653,268. The firm has a fifty day moving average of $349.07 and a 200 day moving average of $313.27. SBA Communications has a 52-week low of $232.88 and a 52-week high of $369.56. The company has a market cap of $38.76 billion, a PE ratio of 146.96 and a beta of 0.21.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Sunday, August 1st. The technology company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.69. SBA Communications had a net margin of 12.33% and a negative return on equity of 5.61%. The business had revenue of $575.40 million for the quarter, compared to analyst estimates of $559.96 million. During the same period in the prior year, the company posted $0.20 EPS. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, equities research analysts anticipate that SBA Communications will post 9.9 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 23rd. Stockholders of record on Thursday, August 26th will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend is Wednesday, August 25th. SBA Communications’s payout ratio is currently 24.58%.

About SBA Communications

SBA Communications Corp. is a real estate investment trust, which engages in the provision of wireless communications infrastructures. It operates through the following business segments: Domestic Site Leasing, International Site Leasing, and Site Development. The Domestic Site Leasing segment includes AT&T, Sprint, T-Mobile, and Verizon Wireless.

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