SBA Communications Co. (NASDAQ:SBAC) Chairman Sells $11,048,327.65 in Stock

SBA Communications Co. (NASDAQ:SBAC) Chairman Jeffrey Stoops sold 49,765 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $222.01, for a total value of $11,048,327.65. Following the sale, the chairman now directly owns 109,583 shares of the company’s stock, valued at $24,328,521.83. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

SBA Communications Price Performance

Shares of NASDAQ SBAC opened at $229.73 on Monday. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $258.76. The business has a fifty day moving average price of $200.44 and a 200 day moving average price of $206.51. The stock 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.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, July 29th. The technology company reported $1.51 EPS for the quarter, missing the consensus estimate of $2.07 by ($0.56). SBA Communications had a net margin of 19.22% and a negative return on equity of 9.85%. The firm had revenue of $660.50 million for the quarter, compared to analysts’ expectations of $665.21 million. During the same period in the previous year, the company posted $3.24 earnings per share. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. As a group, equities research analysts anticipate that SBA Communications Co. will post 12.53 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Thursday, August 22nd will be issued a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Thursday, August 22nd. SBA Communications’s dividend payout ratio is currently 76.86%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. StockNews.com upgraded SBA Communications from a “hold” rating to a “buy” rating in a research report on Friday, July 26th. Wells Fargo & Company cut shares of SBA Communications from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $230.00 to $220.00 in a research report on Monday, July 15th. BMO Capital Markets decreased their price target on shares of SBA Communications from $250.00 to $245.00 and set an “outperform” rating for the company in a research note on Tuesday, July 30th. Royal Bank of Canada reduced their price objective on SBA Communications from $250.00 to $235.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. Finally, KeyCorp increased their price target on SBA Communications from $227.00 to $230.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $240.83.

Institutional Trading of SBA Communications

Hedge funds and other institutional investors have recently made changes to their positions in the business. Legacy Trust acquired a new position in SBA Communications during the 4th quarter valued at about $3,256,000. SG Americas Securities LLC raised its position in shares of SBA Communications by 191.3% in the 1st quarter. SG Americas Securities LLC now owns 25,828 shares of the technology company’s stock valued at $5,597,000 after purchasing an additional 16,962 shares during the last quarter. Franklin Resources Inc. boosted its stake in SBA Communications by 2.8% in the 4th quarter. Franklin Resources Inc. now owns 707,743 shares of the technology company’s stock worth $179,547,000 after purchasing an additional 19,462 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in SBA Communications during the 4th quarter worth approximately $7,422,000. Finally, Wellington Management Group LLP increased its stake in SBA Communications by 596.2% during the 4th quarter. Wellington Management Group LLP now owns 225,128 shares of the technology company’s stock valued at $57,113,000 after purchasing an additional 192,791 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

SBA Communications Company 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.