SBA Communications Co. (NASDAQ:SBAC) Stock Holdings Decreased by DF Dent & Co. Inc.

DF Dent & Co. Inc. cut its holdings in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 19.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,330 shares of the technology company's stock after selling 3,304 shares during the quarter. DF Dent & Co. Inc.'s holdings in SBA Communications were worth $3,209,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of SBAC. Ashton Thomas Securities LLC purchased a new stake in SBA Communications during the 3rd quarter worth about $26,000. Capital Performance Advisors LLP purchased a new stake in shares of SBA Communications during the third quarter worth about $35,000. Ridgewood Investments LLC acquired a new position in shares of SBA Communications in the second quarter valued at approximately $32,000. Family Firm Inc. purchased a new position in shares of SBA Communications during the second quarter valued at approximately $36,000. Finally, Friedenthal Financial acquired a new stake in SBA Communications during the third quarter worth approximately $50,000. 97.35% of the stock is owned by hedge funds and other institutional investors.

SBA Communications Stock Down 0.5 %

Shares of SBAC stock traded down $1.20 during mid-day trading on Friday, reaching $220.38. The company's stock had a trading volume of 1,072,271 shares, compared to its average volume of 809,914. The firm has a market capitalization of $23.70 billion, a PE ratio of 34.76, a price-to-earnings-growth ratio of 0.75 and a beta of 0.67. The company's 50 day simple moving average is $231.02 and its 200-day simple moving average is $219.26. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $258.76.

SBA Communications (NASDAQ:SBAC - Get Free Report) last released its quarterly earnings data on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.77). SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The company had revenue of $667.60 million during the quarter, compared to analysts' expectations of $669.29 million. During the same period last year, the business earned $3.34 earnings per share. The company's revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, research analysts anticipate that SBA Communications Co. will post 12.56 EPS for the current fiscal year.

SBA Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 14th will be given a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend is Thursday, November 14th. SBA Communications's dividend payout ratio (DPR) is 61.83%.

Insider Activity

In related news, EVP Donald Day sold 1,500 shares of the business's stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $242.86, for a total value of $364,290.00. Following the transaction, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,213,814.28. The trade was a 23.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.30% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on SBAC shares. StockNews.com upgraded SBA Communications from a "hold" rating to a "buy" rating in a report on Thursday, November 7th. The Goldman Sachs Group increased their target price on SBA Communications from $212.00 to $240.00 and gave the stock a "neutral" rating in a research report on Thursday, September 26th. BMO Capital Markets lifted their price target on SBA Communications from $255.00 to $260.00 and gave the company an "outperform" rating in a report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of SBA Communications from $230.00 to $240.00 and gave the company a "buy" rating in a research note on Wednesday, August 14th. Finally, JPMorgan Chase & Co. raised their target price on shares of SBA Communications from $228.00 to $250.00 and gave the stock a "neutral" rating in a research report on Monday, September 23rd. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $257.23.

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.