SBA Communications Co. (NASDAQ:SBAC) CFO Brendan Thomas Cavanagh sold 54,411 shares of SBA Communications stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $268.07, for a total value of $14,585,956.77. Following the transaction, the chief financial officer now owns 98,751 shares of the company’s stock, valued at $26,472,180.57. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

NASDAQ:SBAC traded down $0.82 during mid-day trading on Friday, hitting $262.38. 405,957 shares of the stock were exchanged, compared to its average volume of 515,590. The stock has a market capitalization of $29.77 billion, a price-to-earnings ratio of 34.52, a price-to-earnings-growth ratio of 3.39 and a beta of 0.67. The firm’s 50-day simple moving average is $252.00 and its 200 day simple moving average is $218.48. SBA Communications Co. has a fifty-two week low of $146.13 and a fifty-two week high of $270.42.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, July 29th. The technology company reported $0.28 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.86 by ($1.58). The firm had revenue of $500.10 million for the quarter, compared to analyst estimates of $489.09 million. SBA Communications had a negative return on equity of 4.12% and a net margin of 6.75%. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.50) earnings per share. As a group, equities analysts anticipate that SBA Communications Co. will post 7.78 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, August 28th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $1.48 annualized dividend and a yield of 0.56%. SBA Communications’s payout ratio is currently 19.47%.

Several research analysts have recently commented on SBAC shares. Bank of America reiterated a “neutral” rating and set a $260.00 target price (up from $245.00) on shares of SBA Communications in a research note on Wednesday, August 14th. BidaskClub downgraded SBA Communications from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 31st. Cowen lifted their target price on SBA Communications from $203.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. TheStreet upgraded SBA Communications from a “c” rating to a “b-” rating in a research note on Monday, July 29th. Finally, UBS Group downgraded SBA Communications from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $209.00 to $240.00 in a research note on Friday, June 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the stock. SBA Communications presently has an average rating of “Hold” and an average price target of $236.67.

A number of large investors have recently added to or reduced their stakes in SBAC. FMR LLC lifted its holdings in SBA Communications by 3,456.5% during the 1st quarter. FMR LLC now owns 1,245,173 shares of the technology company’s stock worth $248,612,000 after purchasing an additional 1,210,162 shares during the last quarter. Cohen & Steers Inc. lifted its holdings in SBA Communications by 28.0% during the 2nd quarter. Cohen & Steers Inc. now owns 4,522,092 shares of the technology company’s stock worth $1,016,747,000 after purchasing an additional 990,368 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in SBA Communications by 3,484.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 958,013 shares of the technology company’s stock worth $215,400,000 after purchasing an additional 931,283 shares during the last quarter. BlackRock Inc. lifted its holdings in SBA Communications by 5.0% during the 2nd quarter. BlackRock Inc. now owns 10,196,949 shares of the technology company’s stock worth $2,292,683,000 after purchasing an additional 486,674 shares during the last quarter. Finally, USS Investment Management Ltd acquired a new stake in SBA Communications during the 2nd quarter worth approximately $92,341,000. 93.54% of the stock is owned by institutional investors and hedge funds.

SBA Communications Company Profile

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America. By “Building Better Wireless,” SBA generates revenue from two primary businesses – site leasing and site development services. The primary focus of the Company is the leasing of antenna space on its multi-tenant communication sites to a variety of wireless service providers under long-term lease contracts.

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