SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Quadrant Capital Group LLC

Quadrant Capital Group LLC lessened its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 13.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 809 shares of the technology company’s stock after selling 128 shares during the period. Quadrant Capital Group LLC’s holdings in SBA Communications were worth $187,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of SBAC. Carolinas Wealth Consulting LLC lifted its holdings in shares of SBA Communications by 248.0% in the first quarter. Carolinas Wealth Consulting LLC now owns 87 shares of the technology company’s stock valued at $30,000 after purchasing an additional 62 shares in the last quarter. Resurgent Financial Advisors LLC purchased a new stake in shares of SBA Communications in the fourth quarter valued at $31,000. Ancora Advisors LLC lifted its holdings in shares of SBA Communications by 88.6% in the first quarter. Ancora Advisors LLC now owns 132 shares of the technology company’s stock valued at $37,000 after purchasing an additional 62 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of SBA Communications by 55.8% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 187 shares of the technology company’s stock valued at $43,000 after purchasing an additional 67 shares in the last quarter. Finally, CVA Family Office LLC lifted its holdings in shares of SBA Communications by 111.1% in the second quarter. CVA Family Office LLC now owns 190 shares of the technology company’s stock valued at $44,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 92.48% of the company’s stock.

SBA Communications Stock Performance

Shares of NASDAQ:SBAC opened at $235.17 on Tuesday. The company has a market cap of $25.37 billion, a P/E ratio of 51.80, a P/E/G ratio of 1.30 and a beta of 0.55. The stock’s 50-day moving average is $207.90 and its 200-day moving average is $220.66. SBA Communications Co. has a 52-week low of $185.23 and a 52-week high of $312.34.

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 16th will be given a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Wednesday, November 15th. SBA Communications’s dividend payout ratio is currently 74.89%.

Insider Activity

In other news, CEO Jeffrey Stoops sold 45,779 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $233.96, for a total value of $10,710,454.84. Following the sale, the chief executive officer now directly owns 37,889 shares of the company’s stock, valued at $8,864,510.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Jeffrey Stoops sold 45,779 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $233.96, for a total value of $10,710,454.84. Following the completion of the sale, the chief executive officer now owns 37,889 shares in the company, valued at $8,864,510.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kevin L. Beebe sold 1,500 shares of the stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $233.83, for a total transaction of $350,745.00. Following the completion of the sale, the director now owns 13,313 shares of the company’s stock, valued at approximately $3,112,978.79. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

SBAC has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their target price on SBA Communications from $275.00 to $229.00 in a report on Wednesday, September 27th. Citigroup dropped their price target on shares of SBA Communications from $260.00 to $235.00 and set a “buy” rating on the stock in a research note on Tuesday, October 17th. UBS Group dropped their price target on shares of SBA Communications from $335.00 to $315.00 and set a “buy” rating on the stock in a research note on Tuesday, August 1st. TD Cowen dropped their price target on shares of SBA Communications from $329.00 to $327.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 1st. Finally, Royal Bank of Canada dropped their price target on shares of SBA Communications from $276.00 to $265.00 and set an “outperform” rating on the stock in a research note on Monday, August 14th. Four analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, SBA Communications currently has a consensus rating of “Moderate Buy” and an average target price of $279.12.

About SBA Communications

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 in 16 markets throughout the Americas, Africa and the Philippines, SBA is listed on NASDAQ under the symbol SBAC.