SBA Communications Co. (NASDAQ:SBAC) EVP Donald Day Sells 2,321 Shares

SBA Communications Co. (NASDAQ:SBAC) EVP Donald Day sold 2,321 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $203.43, for a total value of $472,161.03. Following the sale, the executive vice president now owns 4,998 shares in the company, valued at $1,016,743.14. The trade was a 31.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

SBA Communications Trading Down 0.4 %

Shares of SBAC stock opened at $202.56 on Wednesday. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $256.68. The stock has a market cap of $21.78 billion, a P/E ratio of 31.95, a P/E/G ratio of 0.72 and a beta of 0.67. The stock has a 50 day moving average of $224.94 and a 200 day moving average of $220.66.

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 the consensus estimate 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 firm had revenue of $667.60 million for the quarter, compared to analysts’ expectations of $669.29 million. During the same period last year, the firm earned $3.34 earnings per share. SBA Communications’s revenue for the quarter was down 2.2% compared to the same quarter last year. On average, research analysts predict that SBA Communications Co. will post 12.56 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th were given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Thursday, November 14th. SBA Communications’s dividend payout ratio (DPR) is presently 61.83%.

Wall Street Analyst Weigh In

A number of analysts recently commented on SBAC shares. KeyCorp lifted their target price on shares of 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 price objective on shares of SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. The Goldman Sachs Group raised their target price on SBA Communications from $212.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Morgan Stanley boosted their price target on SBA Communications from $232.00 to $252.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. Finally, StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a report on Thursday, November 7th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, SBA Communications currently has an average rating of “Moderate Buy” and a consensus target price of $254.92.

Hedge Funds Weigh In On SBA Communications

Several institutional investors and hedge funds have recently modified their holdings of the business. Ashton Thomas Securities LLC acquired a new stake in SBA Communications in the third quarter valued at approximately $26,000. Ridgewood Investments LLC purchased a new position in shares of SBA Communications during the 2nd quarter valued at approximately $32,000. Capital Performance Advisors LLP purchased a new position in shares of SBA Communications during the 3rd quarter valued at approximately $35,000. Global X Japan Co. Ltd. acquired a new stake in SBA Communications in the 2nd quarter valued at $49,000. Finally, Friedenthal Financial purchased a new stake in SBA Communications in the 3rd quarter worth $50,000. Hedge funds and other institutional investors own 97.35% 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.