Insider Selling: SBA Communications Co. (NASDAQ:SBAC) Director Sells 5,000 Shares of Stock

SBA Communications Co. (NASDAQ:SBAC) Director Jack Langer sold 5,000 shares of SBA Communications stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $240.59, for a total value of $1,202,950.00. Following the completion of the sale, the director now directly owns 10,522 shares in the company, valued at approximately $2,531,487.98. This represents a 32.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

SBA Communications Price Performance

SBAC stock opened at $241.95 on Tuesday. SBA Communications Co. has a one year low of $185.44 and a one year high of $252.64. The stock has a market cap of $26.04 billion, a price-to-earnings ratio of 38.16, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83. The company has a fifty day moving average price of $222.17 and a two-hundred day moving average price of $216.18.

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Thursday, May 22nd will be given a $1.11 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $4.44 dividend on an annualized basis and a dividend yield of 1.84%. SBA Communications’s payout ratio is presently 60.91%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SBAC shares. Morgan Stanley assumed coverage on shares of SBA Communications in a report on Tuesday, April 1st. They issued an “equal weight” rating and a $240.00 price objective on the stock. Citigroup lifted their price target on shares of SBA Communications from $250.00 to $265.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Royal Bank of Canada restated an “outperform” rating and set a $255.00 price objective on shares of SBA Communications in a research note on Monday, February 24th. Raymond James reaffirmed a “strong-buy” rating and issued a $268.00 target price (up previously from $265.00) on shares of SBA Communications in a research report on Tuesday, April 29th. Finally, JMP Securities increased their price target on SBA Communications from $250.00 to $270.00 and gave the company a “market outperform” rating in a research report on Tuesday, April 29th. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, SBA Communications has an average rating of “Moderate Buy” and an average price target of $252.38.

Hedge Funds Weigh In On SBA Communications

A number of hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC raised its holdings in shares of SBA Communications by 22.0% during the 1st quarter. Farther Finance Advisors LLC now owns 250 shares of the technology company’s stock worth $55,000 after buying an additional 45 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of SBA Communications by 15.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 382 shares of the technology company’s stock worth $78,000 after acquiring an additional 50 shares during the period. Central Pacific Bank Trust Division boosted its stake in shares of SBA Communications by 2.3% in the 1st quarter. Central Pacific Bank Trust Division now owns 2,250 shares of the technology company’s stock valued at $495,000 after purchasing an additional 50 shares during the last quarter. Versant Capital Management Inc grew its holdings in SBA Communications by 17.3% during the 4th quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock worth $73,000 after acquiring an additional 53 shares during the period. Finally, Auxano Advisors LLC increased its holdings in SBA Communications by 2.3% in the fourth quarter. Auxano Advisors LLC now owns 2,431 shares of the technology company’s stock worth $495,000 after purchasing an additional 54 shares in the last quarter. Institutional investors own 97.35% of the company’s stock.

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.