Donald Day Sells 2,321 Shares of SBA Communications Co. (NASDAQ:SBAC) Stock

SBA Communications Co. (NASDAQ:SBAC - Get Free Report) EVP Donald Day sold 2,321 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $203.43, for a total transaction of $472,161.03. Following the completion of the transaction, the executive vice president now owns 4,998 shares of the company's stock, valued at approximately $1,016,743.14. The trade was a 31.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

SBA Communications Stock Down 0.1 %

Shares of NASDAQ SBAC traded down $0.29 during trading on Monday, reaching $203.28. 1,108,863 shares of the company traded hands, compared to its average volume of 924,175. The firm has a 50 day simple moving average of $225.67 and a 200-day simple moving average of $220.60. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $256.68. The stock has a market capitalization of $21.86 billion, a PE 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 announced its earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share for the quarter, missing analysts' consensus estimates of $3.17 by ($0.77). The company 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%. SBA Communications's quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.34 earnings per share. As a group, research analysts predict that SBA Communications Co. will post 12.56 EPS for the current year.

SBA Communications Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 14th were paid a dividend of $0.98 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.93%. SBA Communications's dividend payout ratio is currently 61.83%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SBAC shares. BMO Capital Markets reaffirmed a "market perform" rating and set a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Barclays raised their price objective on SBA Communications from $236.00 to $256.00 and gave the company an "overweight" rating in a research report on Thursday, October 10th. 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 report on Thursday, October 10th. Morgan Stanley raised their price target on SBA Communications from $232.00 to $252.00 and gave the company an "overweight" rating in a report on Wednesday, September 18th. Finally, StockNews.com upgraded shares of SBA Communications from a "hold" rating to a "buy" rating in a research note on Thursday, November 7th. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $254.92.

Hedge Funds Weigh In On SBA Communications

Several institutional investors have recently made changes to their positions in the business. Ashton Thomas Securities LLC purchased a new position in shares of SBA Communications during the 3rd quarter valued at about $26,000. Ridgewood Investments LLC purchased a new position in SBA Communications during the second quarter valued at approximately $32,000. Capital Performance Advisors LLP purchased a new position in SBA Communications during the third quarter valued at approximately $35,000. Global X Japan Co. Ltd. bought a new stake in shares of SBA Communications during the 2nd quarter valued at $49,000. Finally, Friedenthal Financial purchased a new position in shares of SBA Communications during the 3rd quarter valued at $50,000. Institutional investors own 97.35% of the company's stock.

About SBA Communications

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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