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

SBA Communications Co. (NASDAQ:SBAC) EVP Donald Day sold 2,321 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $203.43, for a total value of $472,161.03. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

SBA Communications Stock Performance

Shares of NASDAQ:SBAC opened at $202.56 on Thursday. SBA Communications Co. has a one year low of $183.64 and a one year high of $256.68. The stock has a market cap of $21.78 billion, a PE ratio of 31.95, a price-to-earnings-growth ratio of 0.72 and a beta of 0.67. The business’s fifty day moving average price is $224.00 and its two-hundred day moving average price is $220.73.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings data on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). The company had revenue of $667.60 million for the quarter, compared to analysts’ expectations of $669.29 million. SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.34 EPS. As a group, equities research analysts predict that SBA Communications Co. will post 12.56 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

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

Institutional Trading of SBA Communications

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Raymond James Trust N.A. grew its position in shares of SBA Communications by 2.4% in the second quarter. Raymond James Trust N.A. now owns 2,703 shares of the technology company’s stock valued at $531,000 after purchasing an additional 64 shares during the period. Checchi Capital Advisers LLC grew its holdings in SBA Communications by 4.1% in the 2nd quarter. Checchi Capital Advisers LLC now owns 1,457 shares of the technology company’s stock valued at $286,000 after buying an additional 57 shares during the period. Argonautica Private Wealth Management Inc. increased its stake in shares of SBA Communications by 43.3% during the 2nd quarter. Argonautica Private Wealth Management Inc. now owns 2,855 shares of the technology company’s stock valued at $560,000 after acquiring an additional 863 shares during the last quarter. Ridgewood Investments LLC purchased a new position in shares of SBA Communications during the 2nd quarter worth about $32,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of SBA Communications by 191.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,794 shares of the technology company’s stock worth $11,149,000 after acquiring an additional 37,278 shares during the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SBAC shares. Raymond James upped their price objective on SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 29th. Wells Fargo & Company upped their price target on shares of SBA Communications from $220.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Barclays raised 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. TD Cowen increased their target price 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. Finally, BMO Capital Markets reissued a “market perform” rating and set a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Four investment 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, SBA Communications presently has a consensus rating of “Moderate Buy” and an average price target of $254.92.

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.