SBA Communications (NASDAQ:SBAC) Director George Krouse, Jr. Sells 300 Shares

SBA Communications Corporation (NASDAQ:SBAC) Director George Krouse, Jr. sold 300 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $182.67, for a total transaction of $54,801.00. Following the completion of the transaction, the director directly owned 8,512 shares in the company, valued at $1,554,887.04. This represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

SBA Communications Trading Up 0.6%

Shares of SBAC stock opened at $182.43 on Thursday. The company has a market cap of $19.35 billion, a price-to-earnings ratio of 19.66, a price-to-earnings-growth ratio of 1.81 and a beta of 0.99. The stock has a 50 day simple moving average of $184.14 and a 200-day simple moving average of $194.21. SBA Communications Corporation has a 12-month low of $162.41 and a 12-month high of $225.33.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, August 3rd. The technology company reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.02. SBA Communications had a net margin of 34.51% and a negative return on equity of 20.67%. The company had revenue of $715.27 million during the quarter, compared to the consensus estimate of $706.01 million. During the same period last year, the firm earned $3.17 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities analysts forecast that SBA Communications Corporation will post 11.41 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Thursday, August 20th will be issued a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Thursday, August 20th. SBA Communications’s payout ratio is presently 53.88%.

Hedge Funds Weigh In On SBA Communications

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. DV Equities LLC acquired a new stake in shares of SBA Communications in the fourth quarter valued at approximately $29,000. Geneos Wealth Management Inc. boosted its position in shares of SBA Communications by 105.0% during the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after buying an additional 84 shares during the period. Fulcrum Asset Management LLP acquired a new position in shares of SBA Communications during the third quarter worth approximately $32,000. High Point Wealth Management LLC bought a new position in SBA Communications in the 4th quarter worth approximately $39,000. Finally, Commonwealth Retirement Investments LLC bought a new position in SBA Communications in the 4th quarter worth approximately $39,000. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SBAC. TD Cowen reissued a “buy” rating on shares of SBA Communications in a research report on Tuesday, August 4th. The Goldman Sachs Group initiated coverage on shares of SBA Communications in a report on Friday, June 26th. They set a “neutral” rating and a $205.00 target price on the stock. KeyCorp upped their price target on shares of SBA Communications from $235.00 to $250.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Wells Fargo & Company upgraded SBA Communications from an “equal weight” rating to an “overweight” rating and lowered their price target for the company from $220.00 to $210.00 in a report on Friday, July 17th. Finally, Wolfe Research raised SBA Communications from a “hold” rating to an “outperform” rating in a research report on Tuesday, August 4th. Eight analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, SBA Communications presently has an average rating of “Hold” and a consensus price target of $228.12.

SBA Communications Company Profile

SBA Communications Corporation (NASDAQ: SBAC) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its core business is the leasing of space on communications towers, rooftop sites and other wireless structures to mobile network operators, broadband providers and other wireless service customers. The company also provides site development, construction and ongoing site management services to support the deployment and operation of wireless networks.

In addition to traditional macro towers, SBA offers a range of infrastructure solutions designed for dense urban and suburban markets, including small cells, distributed antenna systems (DAS) and fiber backhaul and transport services.