SBA Communications Co. (NASDAQ:SBAC) Stock Position Reduced by Presima Securities ULC

Presima Securities ULC decreased its stake in SBA Communications Co. (NASDAQ:SBAC) by 12.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 72,395 shares of the technology company’s stock after selling 10,219 shares during the quarter. SBA Communications makes up about 3.6% of Presima Securities ULC’s holdings, making the stock its 12th biggest position. Presima Securities ULC owned approximately 0.07% of SBA Communications worth $14,754,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Ashton Thomas Securities LLC acquired a new stake in SBA Communications during the third quarter valued at $26,000. Capital Performance Advisors LLP purchased a new stake in shares of SBA Communications during the 3rd quarter worth about $35,000. Friedenthal Financial acquired a new stake in shares of SBA Communications during the 3rd quarter valued at about $50,000. Farther Finance Advisors LLC grew its stake in shares of SBA Communications by 32.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock valued at $52,000 after buying an additional 53 shares in the last quarter. Finally, Eastern Bank acquired a new position in SBA Communications in the third quarter worth approximately $58,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on SBAC. Barclays decreased their target price on shares of SBA Communications from $257.00 to $254.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. TD Cowen increased their target price on shares of SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. KeyCorp boosted their price target on SBA Communications from $230.00 to $280.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Raymond James raised their price objective on SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 29th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $230.00 price target (down previously from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, SBA Communications has a consensus rating of “Moderate Buy” and a consensus target price of $252.46.

Insider Activity

In related news, EVP Mark R. Ciarfella sold 3,545 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the sale, the executive vice president now owns 33,588 shares of the company’s stock, valued at $7,534,796.04. The trade was a 9.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Donald Day sold 2,321 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $203.43, for a total value of $472,161.03. Following the completion of the sale, the executive vice president now owns 4,998 shares in the company, valued at $1,016,743.14. This trade represents a 31.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

SBA Communications Stock Performance

Shares of SBAC opened at $196.83 on Friday. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $252.64. The firm has a market capitalization of $21.16 billion, a P/E ratio of 31.05, a P/E/G ratio of 0.70 and a beta of 0.69. The company has a 50-day simple moving average of $209.87 and a 200-day simple moving average of $221.45.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data 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). The firm had revenue of $667.60 million for the quarter, compared to analyst estimates of $669.29 million. SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. SBA Communications’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $3.34 EPS. As a group, equities analysts forecast that SBA Communications Co. will post 12.57 earnings per share for the current year.

SBA Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th were issued a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend was Thursday, November 14th. SBA Communications’s payout ratio is 61.83%.

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.