Centiva Capital LP Sells 7,740 Shares of SBA Communications Co. (NASDAQ:SBAC)

Centiva Capital LP trimmed its position in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 63.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,423 shares of the technology company's stock after selling 7,740 shares during the period. Centiva Capital LP's holdings in SBA Communications were worth $1,065,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in SBAC. Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of SBA Communications by 10.7% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 527 shares of the technology company's stock valued at $127,000 after buying an additional 51 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in SBA Communications by 0.6% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 9,265 shares of the technology company's stock valued at $1,819,000 after purchasing an additional 53 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in SBA Communications by 32.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company's stock worth $52,000 after purchasing an additional 53 shares in the last quarter. Checchi Capital Advisers LLC raised its stake in shares of SBA Communications by 4.1% in the second quarter. Checchi Capital Advisers LLC now owns 1,457 shares of the technology company's stock worth $286,000 after purchasing an additional 57 shares during the last quarter. Finally, Sugarloaf Wealth Management LLC lifted its holdings in shares of SBA Communications by 11.6% in the third quarter. Sugarloaf Wealth Management LLC now owns 558 shares of the technology company's stock valued at $134,000 after purchasing an additional 58 shares in the last quarter. 97.35% of the stock is owned by institutional investors and hedge funds.

SBA Communications Trading Down 0.5 %

Shares of SBAC stock traded down $1.20 on Friday, hitting $220.38. 1,072,268 shares of the stock were exchanged, compared to its average volume of 912,753. SBA Communications Co. has a one year low of $183.64 and a one year high of $258.76. The firm's 50 day moving average is $231.39 and its two-hundred day moving average is $218.79. The firm has a market capitalization of $23.70 billion, a PE ratio of 34.76, a P/E/G ratio of 0.75 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC - Get Free Report) last posted its earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.77). The business had revenue of $667.60 million during the quarter, compared to analysts' expectations of $669.29 million. SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. SBA Communications's revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.34 EPS. On average, sell-side analysts expect that SBA Communications Co. will post 12.56 earnings per share for the current year.

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th will be issued a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Thursday, November 14th. SBA Communications's payout ratio is currently 61.83%.

Insider Activity

In other SBA Communications news, EVP Donald Day sold 1,500 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $242.86, for a total value of $364,290.00. Following the sale, the executive vice president now directly owns 4,998 shares in the company, valued at $1,213,814.28. This represents a 23.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SBAC has been the subject of a number of analyst reports. TD Cowen increased their price target on SBA Communications from $251.00 to $261.00 and gave the company a "buy" rating in a research report on Tuesday, October 29th. Barclays increased their target price on shares of SBA Communications from $236.00 to $256.00 and gave the company an "overweight" rating in a report on Thursday, October 10th. BMO Capital Markets boosted their price target on shares of SBA Communications from $255.00 to $260.00 and gave the stock an "outperform" rating in a report on Tuesday, October 29th. The Goldman Sachs Group increased their price objective on shares of SBA Communications from $212.00 to $240.00 and gave the company a "neutral" rating in a research note on Thursday, September 26th. Finally, Wells Fargo & Company boosted their target price on SBA Communications from $220.00 to $240.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $257.23.

SBA Communications 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.