SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Atom Investors LP

Atom Investors LP lowered its holdings in SBA Communications Co. (NASDAQ:SBAC) by 59.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 22,103 shares of the technology company’s stock after selling 32,323 shares during the quarter. Atom Investors LP’s holdings in SBA Communications were worth $5,320,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in SBAC. B. Riley Wealth Advisors Inc. lifted its holdings in shares of SBA Communications by 16.5% during the first quarter. B. Riley Wealth Advisors Inc. now owns 1,781 shares of the technology company’s stock valued at $356,000 after purchasing an additional 252 shares during the last quarter. Tidal Investments LLC lifted its stake in SBA Communications by 105.4% during the first quarter. Tidal Investments LLC now owns 5,279 shares of the technology company’s stock valued at $1,144,000 after buying an additional 2,709 shares in the last quarter. Cetera Investment Advisers increased its position in shares of SBA Communications by 228.1% in the first quarter. Cetera Investment Advisers now owns 10,394 shares of the technology company’s stock worth $2,252,000 after acquiring an additional 7,226 shares in the last quarter. Cetera Advisors LLC increased its position in shares of SBA Communications by 41.8% in the first quarter. Cetera Advisors LLC now owns 1,670 shares of the technology company’s stock worth $362,000 after acquiring an additional 492 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its holdings in shares of SBA Communications by 2.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 23,266 shares of the technology company’s stock valued at $5,015,000 after acquiring an additional 453 shares during the period. 97.35% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on SBAC shares. Barclays lifted their price objective on shares of SBA Communications from $236.00 to $256.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. TD Cowen lifted their price target on SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Royal Bank of Canada increased their price objective on SBA Communications from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. The Goldman Sachs Group lifted their target price on SBA Communications from $212.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Finally, Raymond James upped their target price on SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a report on Tuesday, October 29th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $257.23.

Insiders Place Their Bets

In other news, EVP Donald Day sold 1,500 shares of the business’s 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 in the company, valued at approximately $1,213,814.28. The trade was a 23.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.30% of the company’s stock.

SBA Communications Stock Down 1.0 %

SBAC stock opened at $226.25 on Monday. The company has a market capitalization of $24.33 billion, a price-to-earnings ratio of 35.69, a P/E/G ratio of 0.76 and a beta of 0.68. The firm has a 50 day moving average of $232.78 and a two-hundred day moving average of $218.45. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $258.76.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.77). SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The business had revenue of $667.60 million for the quarter, compared to analyst estimates of $669.29 million. During the same period in the previous year, the company earned $3.34 earnings per share. The company’s quarterly revenue was down 2.2% compared to the same quarter last year. On average, research analysts expect that SBA Communications Co. will post 12.56 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 14th will be issued a $0.98 dividend. The ex-dividend date is Thursday, November 14th. This represents a $3.92 annualized dividend and a yield of 1.73%. SBA Communications’s dividend payout ratio (DPR) is currently 61.83%.

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.