SBA Communications (NASDAQ:SBAC) Director Sells $54,801.00 in Stock

SBA Communications Corporation (NASDAQ:SBAC) Director George Krouse, Jr. sold 300 shares of SBA Communications stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $182.67, for a total transaction of $54,801.00. Following the sale, the director owned 8,512 shares of the company’s stock, valued at approximately $1,554,887.04. This represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

SBA Communications Stock Performance

SBA Communications stock opened at $182.59 on Friday. The company’s 50 day simple moving average is $183.23 and its 200-day simple moving average is $194.10. SBA Communications Corporation has a 1 year low of $162.41 and a 1 year high of $225.33. The company has a market capitalization of $19.37 billion, a price-to-earnings ratio of 19.68, a price-to-earnings-growth ratio of 1.80 and a beta of 0.99.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings data on Monday, August 3rd. The technology company reported $1.87 earnings per share for the quarter, topping 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 firm had revenue of $715.27 million during the quarter, compared to analysts’ expectations of $706.01 million. During the same quarter last year, the company posted $3.17 EPS. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. Equities analysts expect that SBA Communications Corporation will post 11.41 earnings per share for the current year.

SBA Communications Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Stockholders of record on Thursday, August 20th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Thursday, August 20th. SBA Communications’s dividend payout ratio (DPR) is currently 53.88%.

Hedge Funds Weigh In On SBA Communications

Institutional investors have recently modified their holdings of the business. DV Equities LLC acquired a new stake in shares of SBA Communications in the fourth quarter valued at $29,000. Fulcrum Asset Management LLP purchased a new position in SBA Communications in the third quarter valued at $32,000. Geneos Wealth Management Inc. grew its stake in SBA Communications by 105.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company’s stock worth $36,000 after purchasing an additional 84 shares in the last quarter. CX Institutional grew its stake in SBA Communications by 44.2% during the 2nd quarter. CX Institutional now owns 212 shares of the technology company’s stock worth $37,000 after purchasing an additional 65 shares in the last quarter. Finally, High Point Wealth Management LLC purchased a new stake in SBA Communications during the 4th quarter worth about $39,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. The Goldman Sachs Group initiated coverage on SBA Communications in a report on Friday, June 26th. They issued a “neutral” rating and a $205.00 price objective on the stock. Weiss Ratings restated a “hold (c)” rating on shares of SBA Communications in a report on Monday, July 20th. Morgan Stanley dropped their target price on SBA Communications from $225.00 to $215.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 4th. Wells Fargo & Company raised SBA Communications from an “equal weight” rating to an “overweight” rating and dropped their target price for the company from $220.00 to $210.00 in a research report on Friday, July 17th. Finally, Citigroup reiterated a “market perform” rating on shares of SBA Communications in a research note on Tuesday, August 4th. Eight investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, SBA Communications has a consensus rating of “Hold” and a consensus target price of $225.81.

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.