SBA Communications Co. (NASDAQ:SBAC - Get Free Report) EVP Donald Day sold 2,321 shares of SBA Communications stock in a transaction on Friday, December 20th. The shares were sold at an average price of $203.43, for a total transaction of $472,161.03. Following the completion of the sale, the executive vice president now directly owns 4,998 shares in the company, valued at $1,016,743.14. This represents a 31.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
SBA Communications Trading Down 0.1 %
Shares of SBAC opened at $203.28 on Tuesday. The firm has a 50-day moving average price of $225.67 and a 200 day moving average price of $220.60. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $256.68. The firm has a market capitalization of $21.86 billion, a P/E ratio of 32.06, a P/E/G ratio of 0.72 and a beta of 0.67.
SBA Communications (NASDAQ:SBAC - Get Free Report) last released its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 EPS 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 analysts' expectations of $669.29 million. SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The firm's quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.34 EPS. Equities research analysts predict that SBA Communications Co. will post 12.56 earnings per share for the current fiscal year.
SBA Communications Dividend Announcement
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The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 14th were given a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date was Thursday, November 14th. SBA Communications's payout ratio is 61.83%.
Institutional Trading of SBA Communications
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Ashton Thomas Securities LLC purchased a new stake in shares of SBA Communications in the 3rd quarter valued at approximately $26,000. Capital Performance Advisors LLP purchased a new stake in SBA Communications in the third quarter valued at approximately $35,000. Ridgewood Investments LLC purchased a new position in shares of SBA Communications during the second quarter worth $32,000. Friedenthal Financial acquired a new stake in shares of SBA Communications in the third quarter valued at $50,000. Finally, Farther Finance Advisors LLC raised its holdings 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 during the period. 97.35% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on SBAC. Morgan Stanley lifted their target price on shares of SBA Communications from $232.00 to $252.00 and gave the company an "overweight" rating in a research report on Wednesday, September 18th. BMO Capital Markets reiterated a "market perform" rating and issued a $230.00 price objective (down from $260.00) on shares of SBA Communications in a report on Wednesday, December 18th. The Goldman Sachs Group increased their target price on SBA Communications from $212.00 to $240.00 and gave the company a "neutral" rating in a report on Thursday, September 26th. StockNews.com raised SBA Communications from a "hold" rating to a "buy" rating in a research note on Thursday, November 7th. Finally, KeyCorp increased their price objective on SBA Communications from $230.00 to $280.00 and gave the company an "overweight" rating in a research note on Monday, October 14th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, SBA Communications presently has an average rating of "Moderate Buy" and a consensus target price of $254.92.
View Our Latest Stock Analysis on SBAC
SBA Communications Company Profile
(
Get Free Report)
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.
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