SBA Communications Co. (NASDAQ:SBAC) Chairman Jeffrey Stoops Sells 49,765 Shares

SBA Communications Co. (NASDAQ:SBAC) Chairman Jeffrey Stoops sold 49,765 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $222.01, for a total value of $11,048,327.65. Following the completion of the transaction, the chairman now directly owns 109,583 shares in the company, valued at approximately $24,328,521.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

SBA Communications Trading Up 1.1 %

NASDAQ:SBAC opened at $229.73 on Monday. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $258.76. The company has a market capitalization of $24.68 billion, a P/E ratio of 45.05, a price-to-earnings-growth ratio of 0.72 and a beta of 0.65. The firm has a 50-day moving average price of $200.44 and a two-hundred day moving average price of $206.51.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, July 29th. The technology company reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.07 by ($0.56). SBA Communications had a negative return on equity of 9.85% and a net margin of 19.22%. The company had revenue of $660.50 million for the quarter, compared to analyst estimates of $665.21 million. During the same quarter in the prior year, the firm earned $3.24 earnings per share. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, equities research analysts predict that SBA Communications Co. will post 12.53 earnings per share for the current year.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Thursday, August 22nd will be paid a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date is Thursday, August 22nd. SBA Communications’s payout ratio is currently 76.86%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. boosted its stake in shares of SBA Communications by 9.4% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 14,248 shares of the technology company’s stock worth $3,615,000 after purchasing an additional 1,221 shares during the last quarter. Independence Bank of Kentucky lifted its stake in shares of SBA Communications by 96.3% during the fourth quarter. Independence Bank of Kentucky now owns 265 shares of the technology company’s stock valued at $67,000 after buying an additional 130 shares during the period. UMB Bank n.a. boosted its position in SBA Communications by 12.0% during the fourth quarter. UMB Bank n.a. now owns 674 shares of the technology company’s stock worth $171,000 after acquiring an additional 72 shares during the last quarter. Ballentine Partners LLC purchased a new stake in SBA Communications in the 4th quarter worth approximately $511,000. Finally, Asset Management One Co. Ltd. raised its holdings in SBA Communications by 1.2% in the 4th quarter. Asset Management One Co. Ltd. now owns 43,812 shares of the technology company’s stock valued at $11,139,000 after acquiring an additional 528 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analysts Set New Price Targets

SBAC has been the topic of several analyst reports. Citigroup dropped their price target on shares of SBA Communications from $290.00 to $260.00 and set a “buy” rating on the stock in a research note on Tuesday, April 30th. Royal Bank of Canada cut their target price on SBA Communications from $250.00 to $235.00 and set an “outperform” rating for the company in a research note on Thursday, May 9th. Barclays decreased their price target on SBA Communications from $240.00 to $236.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 30th. Wells Fargo & Company cut SBA Communications from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $230.00 to $220.00 in a research report on Monday, July 15th. Finally, StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $240.83.

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.