ING Groep NV Sells 85 Shares of SBA Communications Co. (NASDAQ:SBAC)

ING Groep NV lowered its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 0.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 14,373 shares of the technology company’s stock after selling 85 shares during the quarter. ING Groep NV’s holdings in SBA Communications were worth $3,460,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Virtu Financial LLC purchased a new position in shares of SBA Communications in the 1st quarter worth $1,764,000. Tidal Investments LLC boosted its position in SBA Communications by 105.4% in the first quarter. Tidal Investments LLC now owns 5,279 shares of the technology company’s stock worth $1,144,000 after purchasing an additional 2,709 shares during the last quarter. Lazard Asset Management LLC grew its stake in shares of SBA Communications by 7.8% during the 1st quarter. Lazard Asset Management LLC now owns 148,687 shares of the technology company’s stock valued at $32,219,000 after purchasing an additional 10,753 shares during the period. AMF Tjanstepension AB purchased a new stake in shares of SBA Communications during the 2nd quarter valued at about $8,197,000. Finally, Cetera Investment Advisers lifted its stake in shares of SBA Communications by 228.1% in the 1st quarter. Cetera Investment Advisers now owns 10,394 shares of the technology company’s stock worth $2,252,000 after purchasing an additional 7,226 shares during the period. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Analyst Ratings Changes

SBAC has been the subject of a number of research reports. KeyCorp upped their target price on shares of SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft upped their price objective on SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. BMO Capital Markets lifted their target price on SBA Communications from $255.00 to $260.00 and gave the company an “outperform” rating in a research report on Tuesday, October 29th. StockNews.com upgraded SBA Communications from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. Finally, TD Cowen lifted their price objective on SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $257.23.

SBA Communications Price Performance

Shares of SBAC opened at $221.09 on Friday. The firm has a market cap of $23.77 billion, a P/E ratio of 34.87, a price-to-earnings-growth ratio of 0.74 and a beta of 0.68. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $258.76. The company has a 50 day simple moving average of $236.35 and a two-hundred day simple moving average of $216.16.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results 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). SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The company had revenue of $667.60 million during the quarter, compared to the consensus estimate of $669.29 million. During the same quarter in the prior year, the firm posted $3.34 earnings per share. The business’s revenue was down 2.2% on a year-over-year basis. On average, sell-side analysts anticipate that SBA Communications Co. will post 12.56 earnings per share for the current year.

SBA Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.98 per share. The ex-dividend date is Thursday, November 14th. This represents a $3.92 annualized dividend and a dividend yield of 1.77%. SBA Communications’s dividend payout ratio (DPR) is 61.83%.

Insider Activity

In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of the business’s stock in a transaction that occurred on 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. The trade was a 3.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Donald Day sold 1,500 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,213,814.28. This trade represents a 23.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

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.