Presima Securities ULC Decreases Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Presima Securities ULC lowered its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 12.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,614 shares of the technology company’s stock after selling 11,530 shares during the period. SBA Communications accounts for approximately 4.4% of Presima Securities ULC’s portfolio, making the stock its 12th largest position. Presima Securities ULC owned 0.08% of SBA Communications worth $19,885,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Ridgewood Investments LLC acquired a new position in shares of SBA Communications during the 2nd quarter worth about $32,000. Family Firm Inc. purchased a new stake in SBA Communications during the second quarter worth approximately $36,000. Global X Japan Co. Ltd. acquired a new position in SBA Communications in the second quarter valued at approximately $49,000. Versant Capital Management Inc increased its stake in SBA Communications by 4,500.0% in the second quarter. Versant Capital Management Inc now owns 276 shares of the technology company’s stock valued at $54,000 after purchasing an additional 270 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in SBA Communications during the second quarter worth approximately $60,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Insider Transactions at SBA Communications

In other SBA Communications news, Chairman Jeffrey Stoops sold 49,765 shares of SBA Communications 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 owns 109,583 shares of the company’s stock, valued at approximately $24,328,521.83. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other SBA Communications news, Chairman Jeffrey Stoops sold 49,765 shares of the stock in a transaction 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 completion of the transaction, the chairman now owns 109,583 shares in the company, valued at approximately $24,328,521.83. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director George R. Krouse, Jr. sold 325 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total transaction of $71,363.50. Following the completion of the sale, the director now owns 8,084 shares of the company’s stock, valued at $1,775,084.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 51,590 shares of company stock worth $11,483,981 over the last ninety days. 1.30% of the stock is currently owned by company insiders.

SBA Communications Trading Down 0.2 %

SBA Communications stock opened at $248.75 on Thursday. The stock has a 50 day moving average of $232.92 and a two-hundred day moving average of $212.04. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $258.76. The stock has a market capitalization of $26.73 billion, a price-to-earnings ratio of 48.77, a PEG ratio of 0.70 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, July 29th. The technology company reported $1.51 earnings per share 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 period in the prior year, the business earned $3.24 earnings per share. SBA Communications’s revenue for the quarter was down 2.7% compared to the same quarter last year. Equities analysts predict that SBA Communications Co. will post 12.52 earnings per share for the current year.

SBA Communications Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Thursday, August 22nd were issued a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 1.58%. The ex-dividend date was Thursday, August 22nd. SBA Communications’s payout ratio is 76.86%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SBAC. 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. Barclays upped their price objective on shares of SBA Communications from $236.00 to $256.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. The Goldman Sachs Group lifted their target price on SBA Communications from $212.00 to $240.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Wells Fargo & Company boosted their target price on SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Finally, BMO Capital Markets dropped their price target on SBA Communications from $250.00 to $245.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $251.58.

SBA Communications 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.