Kentucky Retirement Systems Sells 99 Shares of SBA Communications Co. (NASDAQ:SBAC)

Kentucky Retirement Systems decreased its stake in SBA Communications Co. (NASDAQ:SBACFree Report) by 1.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,632 shares of the technology company’s stock after selling 99 shares during the period. Kentucky Retirement Systems’ holdings in SBA Communications were worth $2,190,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SBAC. Nordea Investment Management AB lifted its stake in SBA Communications by 6.3% in the fourth quarter. Nordea Investment Management AB now owns 272,065 shares of the technology company’s stock valued at $68,854,000 after purchasing an additional 16,244 shares during the last quarter. Legacy Trust bought a new position in shares of SBA Communications during the 4th quarter worth $3,256,000. Lecap Asset Management Ltd. purchased a new stake in SBA Communications in the 4th quarter worth about $2,122,000. Machina Capital S.A.S. bought a new stake in SBA Communications in the 4th quarter valued at about $343,000. Finally, Natixis Advisors L.P. lifted its holdings in SBA Communications by 18.8% during the third quarter. Natixis Advisors L.P. now owns 36,708 shares of the technology company’s stock valued at $7,348,000 after purchasing an additional 5,814 shares during the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Price Performance

Shares of SBA Communications stock opened at $199.38 on Monday. 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 $21.42 billion, a PE ratio of 39.09, a PEG ratio of 0.59 and a beta of 0.59. The company has a 50 day simple moving average of $205.70 and a two-hundred day simple moving average of $222.49.

SBA Communications (NASDAQ:SBACGet Free Report) last posted its quarterly earnings data on Monday, April 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.21. The company had revenue of $657.86 million during the quarter, compared to the consensus estimate of $671.08 million. SBA Communications had a net margin of 20.61% and a negative return on equity of 10.75%. The firm’s revenue was down 2.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.13 EPS. As a group, research analysts anticipate that SBA Communications Co. will post 12.53 earnings per share for the current year.

SBA Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Thursday, May 23rd will be given a dividend of $0.98 per share. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $3.92 annualized dividend and a dividend yield of 1.97%. SBA Communications’s dividend payout ratio (DPR) is presently 76.86%.

Insider Activity at SBA Communications

In other SBA Communications news, Director Mary S. Chan sold 1,977 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total transaction of $430,966.23. Following the transaction, the director now directly owns 4,622 shares in the company, valued at $1,007,549.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently commented on SBAC. Citigroup cut their price objective on shares of SBA Communications from $290.00 to $260.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. StockNews.com upgraded SBA Communications from a “hold” rating to a “buy” rating in a research report on Wednesday, May 15th. Royal Bank of Canada decreased their price objective on SBA Communications from $250.00 to $235.00 and set an “outperform” rating on the stock in a research note on Thursday, May 9th. TD Cowen cut their target price on SBA Communications from $266.00 to $253.00 and set a “buy” rating for the company in a research note on Tuesday, April 30th. Finally, Barclays decreased their price target on SBA Communications from $255.00 to $241.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 30th. Eleven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $252.25.

View Our Latest Stock Analysis on SBA Communications

About SBA Communications

(Free Report)

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.

See Also

Institutional Ownership by Quarter for SBA Communications (NASDAQ:SBAC)

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