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 SBA Communications stock in a transaction on Friday, September 13th. The shares were sold at an average price of $242.86, for a total value of $364,290.00. Following the completion of the sale, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at $1,213,814.28. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

SBA Communications Trading Down 0.0 %

Shares of SBA Communications stock traded down $0.09 during trading on Tuesday, reaching $245.00. The stock had a trading volume of 651,286 shares, compared to its average volume of 930,379. The company has a market capitalization of $26.32 billion, a price-to-earnings ratio of 48.04, a P/E/G ratio of 0.74 and a beta of 0.67. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $258.76. The stock has a fifty day moving average price of $222.13 and a two-hundred day moving average price of $208.68.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, July 29th. The technology company reported $1.51 EPS for the quarter, missing the consensus estimate of $2.07 by ($0.56). The firm had revenue of $660.50 million during the quarter, compared to analyst estimates of $665.21 million. SBA Communications had a net margin of 19.22% and a negative return on equity of 9.85%. SBA Communications’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the previous year, the company posted $3.24 EPS. On average, equities analysts forecast that SBA Communications Co. will post 12.53 EPS for the current fiscal year.

SBA Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Thursday, August 22nd will be paid a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Thursday, August 22nd. SBA Communications’s dividend payout ratio (DPR) is 76.86%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Ridgewood Investments LLC bought a new stake in shares of SBA Communications in the second quarter valued at approximately $32,000. Family Firm Inc. acquired a new stake in shares of SBA Communications during the 2nd quarter worth $36,000. Quarry LP increased its position in shares of SBA Communications by 400.0% in the fourth quarter. Quarry LP now owns 165 shares of the technology company’s stock worth $42,000 after purchasing an additional 132 shares during the period. Global X Japan Co. Ltd. acquired a new position in SBA Communications in the second quarter valued at about $49,000. Finally, Versant Capital Management Inc lifted its position in SBA Communications by 4,500.0% during the second quarter. Versant Capital Management Inc now owns 276 shares of the technology company’s stock worth $54,000 after purchasing an additional 270 shares during the period. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on SBAC. StockNews.com lowered SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday, September 12th. Royal Bank of Canada increased their price objective on shares of SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Wells Fargo & Company downgraded shares of SBA Communications from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $230.00 to $220.00 in a research report on Monday, July 15th. TD Cowen reduced their price target on shares of SBA Communications from $253.00 to $251.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. Finally, KeyCorp upped their price objective 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. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, SBA Communications has a consensus rating of “Moderate Buy” and a consensus price target of $237.92.

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