Great Diamond Partners LLC Sells 404 Shares of SBA Communications Co. (NASDAQ:SBAC)

Great Diamond Partners LLC lowered its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 32.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 858 shares of the technology company’s stock after selling 404 shares during the period. Great Diamond Partners LLC’s holdings in SBA Communications were worth $207,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Barrow Hanley Mewhinney & Strauss LLC bought a new position in SBA Communications during the 2nd quarter valued at approximately $134,738,000. Long Pond Capital LP purchased a new stake in shares of SBA Communications in the second quarter worth $83,687,000. AQR Capital Management LLC increased its holdings in shares of SBA Communications by 500.0% during the second quarter. AQR Capital Management LLC now owns 369,037 shares of the technology company’s stock valued at $72,375,000 after acquiring an additional 307,530 shares in the last quarter. Diamond Hill Capital Management Inc. raised its position in shares of SBA Communications by 13.4% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,973,867 shares of the technology company’s stock worth $387,470,000 after purchasing an additional 233,179 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in SBA Communications by 144.7% in the 1st quarter. BNP Paribas Financial Markets now owns 359,736 shares of the technology company’s stock worth $77,955,000 after purchasing an additional 212,739 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. KeyCorp upped their price objective on SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. lifted their target price on SBA Communications from $228.00 to $250.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Morgan Stanley upped their price target on SBA Communications from $232.00 to $252.00 and gave the company an “overweight” rating in a report on Wednesday, September 18th. Finally, BMO Capital Markets lifted their price objective on SBA Communications from $255.00 to $260.00 and gave the stock an “outperform” rating in a report on Tuesday. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $257.23.

SBA Communications Trading Up 0.1 %

Shares of NASDAQ SBAC opened at $231.88 on Thursday. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $258.76. The firm has a market capitalization of $24.92 billion, a price-to-earnings ratio of 48.92, a price-to-earnings-growth ratio of 0.73 and a beta of 0.67. The firm has a 50 day moving average of $237.77 and a 200 day moving average of $214.16.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, October 28th. The technology company reported $2.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). The business had revenue of $667.60 million for the quarter, compared to the consensus estimate of $669.29 million. SBA Communications had a net margin of 19.22% and a negative return on equity of 9.85%. The company’s revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $3.34 EPS. Sell-side analysts predict that SBA Communications Co. will post 12.52 EPS for the current year.

SBA Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th will be paid a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Thursday, November 14th. SBA Communications’s dividend payout ratio (DPR) is currently 82.70%.

Insider Activity at SBA Communications

In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total transaction of $71,363.50. Following the sale, the director now owns 8,084 shares in the company, valued at approximately $1,775,084.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total transaction of $71,363.50. Following the sale, the director now directly owns 8,084 shares of the company’s stock, valued at $1,775,084.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Donald Day sold 1,500 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $242.86, for a total value of $364,290.00. Following the completion of the transaction, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at approximately $1,213,814.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

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.