Teachers Retirement System of The State of Kentucky Reduces Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Teachers Retirement System of The State of Kentucky lessened its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 6.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 8,011 shares of the technology company’s stock after selling 562 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in SBA Communications were worth $1,928,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Ashton Thomas Securities LLC bought a new stake in shares of SBA Communications in the 3rd quarter worth about $26,000. Ridgewood Investments LLC purchased a new stake in SBA Communications in the 2nd quarter worth about $32,000. Capital Performance Advisors LLP bought a new stake in SBA Communications in the third quarter worth about $35,000. Family Firm Inc. bought a new stake in SBA Communications in the second quarter worth about $36,000. Finally, Global X Japan Co. Ltd. purchased a new position in shares of SBA Communications during the second quarter valued at approximately $49,000. 97.35% of the stock is currently owned by institutional investors.

SBA Communications Stock Performance

Shares of SBAC opened at $212.28 on Tuesday. The company has a 50 day moving average price of $228.25 and a 200-day moving average price of $220.44. SBA Communications Co. has a fifty-two week low of $183.64 and a fifty-two week high of $256.68. The stock has a market capitalization of $22.82 billion, a PE ratio of 33.48, a PEG ratio of 0.72 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $667.60 million for the quarter, compared to analysts’ expectations of $669.29 million. During the same quarter in the prior year, the company earned $3.34 EPS. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. Equities research analysts forecast that SBA Communications Co. will post 12.56 EPS for the current year.

SBA Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th were issued a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend was Thursday, November 14th. SBA Communications’s dividend payout ratio is currently 61.83%.

Insider Transactions at SBA Communications

In other news, EVP Mark R. Ciarfella sold 3,545 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the completion of the sale, the executive vice president now owns 33,588 shares of the company’s stock, valued at $7,534,796.04. This trade represents a 9.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Barclays increased their price target on SBA Communications from $236.00 to $256.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. KeyCorp increased their target price on SBA Communications from $230.00 to $280.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. TD Cowen boosted their target price on shares of SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Morgan Stanley upped their price target on shares of SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a report on Wednesday, September 18th. Finally, StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $257.23.

SBA Communications Profile

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.