SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Texas Permanent School Fund

Texas Permanent School Fund decreased its holdings in SBA Communications Co. (NASDAQ:SBACGet Rating) by 6.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,110 shares of the technology company’s stock after selling 895 shares during the quarter. Texas Permanent School Fund’s holdings in SBA Communications were worth $4,855,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. AIA Group Ltd grew its stake in SBA Communications by 41.0% in the 1st quarter. AIA Group Ltd now owns 351 shares of the technology company’s stock valued at $121,000 after acquiring an additional 102 shares during the period. CIBC Asset Management Inc boosted its position in shares of SBA Communications by 1.0% during the 1st quarter. CIBC Asset Management Inc now owns 10,462 shares of the technology company’s stock valued at $3,600,000 after acquiring an additional 104 shares during the last quarter. TimesSquare Capital Management LLC boosted its position in shares of SBA Communications by 5.0% during the 1st quarter. TimesSquare Capital Management LLC now owns 376,475 shares of the technology company’s stock valued at $129,545,000 after acquiring an additional 17,775 shares during the last quarter. IFM Investors Pty Ltd boosted its position in shares of SBA Communications by 118.7% during the 1st quarter. IFM Investors Pty Ltd now owns 31,029 shares of the technology company’s stock valued at $10,677,000 after acquiring an additional 16,839 shares during the last quarter. Finally, Washington Trust Advisors Inc. boosted its position in shares of SBA Communications by 61.0% during the 1st quarter. Washington Trust Advisors Inc. now owns 483 shares of the technology company’s stock valued at $167,000 after acquiring an additional 183 shares during the last quarter. 95.41% of the stock is owned by institutional investors and hedge funds.

SBA Communications Trading Down 0.3 %

SBAC stock opened at $345.40 on Friday. The stock has a 50-day moving average price of $323.52 and a two-hundred day moving average price of $328.59. SBA Communications Co. has a 12-month low of $286.41 and a 12-month high of $391.15. The company has a market cap of $37.24 billion, a PE ratio of 106.93 and a beta of 0.43.

SBA Communications (NASDAQ:SBACGet Rating) last posted its quarterly earnings results on Monday, August 1st. The technology company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.26). SBA Communications had a net margin of 14.45% and a negative return on equity of 6.73%. The firm had revenue of $652.01 million for the quarter, compared to analysts’ expectations of $626.30 million. During the same period last year, the firm posted $2.64 EPS. SBA Communications’s revenue was up 13.3% on a year-over-year basis. Equities analysts forecast that SBA Communications Co. will post 11.1 EPS for the current fiscal year.

SBA Communications Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 20th. Stockholders of record on Thursday, August 25th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.82%. The ex-dividend date of this dividend is Wednesday, August 24th. SBA Communications’s payout ratio is 87.93%.

Insider Transactions at SBA Communications

In other news, CEO Jeffrey Stoops sold 30,000 shares of the company’s stock in a transaction dated Tuesday, May 24th. The stock was sold at an average price of $344.07, for a total value of $10,322,100.00. Following the completion of the sale, the chief executive officer now owns 83,668 shares of the company’s stock, valued at $28,787,648.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Mark R. Ciarfella sold 1,000 shares of the business’s stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $338.05, for a total value of $338,050.00. Following the transaction, the executive vice president now owns 23,884 shares in the company, valued at $8,073,986.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jeffrey Stoops sold 30,000 shares of the business’s stock in a transaction dated Tuesday, May 24th. The stock was sold at an average price of $344.07, for a total value of $10,322,100.00. Following the completion of the transaction, the chief executive officer now owns 83,668 shares in the company, valued at approximately $28,787,648.76. The disclosure for this sale can be found here. Insiders sold 37,912 shares of company stock valued at $13,038,108 over the last quarter. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SBAC. UBS Group boosted their price objective on shares of SBA Communications from $400.00 to $410.00 and gave the company a “buy” rating in a report on Tuesday. Barclays boosted their price target on shares of SBA Communications from $378.00 to $385.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 26th. Credit Suisse Group upped their target price on shares of SBA Communications from $405.00 to $408.00 and gave the stock an “outperform” rating in a research note on Tuesday. Cowen upped their target price on shares of SBA Communications from $373.00 to $382.00 in a research note on Tuesday, April 26th. Finally, Morgan Stanley reduced their price target on shares of SBA Communications from $389.00 to $361.00 and set an “overweight” rating for the company in a research report on Wednesday, July 20th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $385.88.

About SBA Communications

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SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America and South Africa. By Building Better Wireless, SBA generates revenue from two primary businesses – site leasing and site development services.

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Institutional Ownership by Quarter for SBA Communications (NASDAQ:SBAC)

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