SBA Communications Co. (NASDAQ:SBAC) EVP Sells $795,249.85 in Stock

SBA Communications Co. (NASDAQ:SBAC) EVP Mark R. Ciarfella sold 3,545 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $224.33, for a total transaction of $795,249.85. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

SBA Communications Stock Performance

Shares of NASDAQ SBAC opened at $214.28 on Friday. The firm has a 50 day moving average price of $228.76 and a two-hundred day moving average price of $219.84. The stock has a market cap of $23.04 billion, a P/E ratio of 33.80, a price-to-earnings-growth ratio of 0.73 and a beta of 0.67. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $258.76.

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

SBA Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 14th were paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date was Thursday, November 14th. SBA Communications’s dividend payout ratio is currently 61.83%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of SBA Communications from $232.00 to $252.00 and gave the company an “overweight” rating in a research note on Wednesday, September 18th. BMO Capital Markets lifted their price target on SBA Communications from $255.00 to $260.00 and gave the company an “outperform” rating in a research note on Tuesday, October 29th. KeyCorp upped their price objective on SBA Communications from $230.00 to $280.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. StockNews.com upgraded SBA Communications from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. Finally, Barclays increased their target price on shares of SBA Communications from $236.00 to $256.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $257.23.

Institutional Trading of SBA Communications

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of SBA Communications by 1.8% in the 3rd quarter. State Street Corp now owns 4,643,527 shares of the technology company’s stock valued at $1,117,697,000 after purchasing an additional 81,566 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in SBA Communications by 13.4% in the second quarter. Diamond Hill Capital Management Inc. now owns 1,973,867 shares of the technology company’s stock valued at $387,470,000 after buying an additional 233,179 shares during the period. Charles Schwab Investment Management Inc. boosted its position in SBA Communications by 5.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,269,786 shares of the technology company’s stock valued at $305,637,000 after acquiring an additional 62,555 shares during the last quarter. Victory Capital Management Inc. grew its holdings in SBA Communications by 2,821.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,216,094 shares of the technology company’s stock worth $292,714,000 after acquiring an additional 1,174,469 shares during the period. Finally, American Century Companies Inc. raised its position in shares of SBA Communications by 15.5% in the 2nd quarter. American Century Companies Inc. now owns 1,190,288 shares of the technology company’s stock worth $233,654,000 after acquiring an additional 159,433 shares in the last quarter. Institutional investors and hedge funds 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.