Franklin Resources Inc. Has $24.53 Million Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Franklin Resources Inc. decreased its position in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 57.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 102,282 shares of the technology company's stock after selling 139,580 shares during the quarter. Franklin Resources Inc. owned 0.10% of SBA Communications worth $24,529,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Ashton Thomas Securities LLC bought a new position in SBA Communications in the third quarter worth about $26,000. Ridgewood Investments LLC bought a new stake in shares of SBA Communications in the 2nd quarter worth approximately $32,000. Capital Performance Advisors LLP acquired a new position in SBA Communications during the 3rd quarter valued at approximately $35,000. Family Firm Inc. bought a new position in SBA Communications during the 2nd quarter worth $36,000. Finally, Global X Japan Co. Ltd. acquired a new stake in SBA Communications in the second quarter worth $49,000. 97.35% of the stock is currently owned by institutional investors.

SBA Communications Stock Up 2.7 %

SBA Communications stock traded up $5.33 during midday trading on Friday, hitting $203.57. The company's stock had a trading volume of 2,458,075 shares, compared to its average volume of 923,423. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $256.68. The company has a market capitalization of $21.89 billion, a PE ratio of 32.11, a price-to-earnings-growth ratio of 0.72 and a beta of 0.67. The stock's 50-day moving average price is $226.27 and its 200-day moving average price is $220.24.

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

SBA Communications Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have recently issued reports on SBAC. The Goldman Sachs Group boosted their price target on shares of SBA Communications from $212.00 to $240.00 and gave the company a "neutral" rating in a report on Thursday, September 26th. TD Cowen boosted their target price on shares of SBA Communications from $251.00 to $261.00 and gave the company a "buy" rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. raised their price target on shares of SBA Communications from $228.00 to $250.00 and gave the company a "neutral" rating in a research note on Monday, September 23rd. BMO Capital Markets reiterated a "market perform" rating and set a $230.00 price objective (down from $260.00) on shares of SBA Communications in a research report on Wednesday. Finally, Wells Fargo & Company raised their target price on SBA Communications from $220.00 to $240.00 and gave the company an "equal weight" rating in a research report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, SBA Communications presently has an average rating of "Moderate Buy" and a consensus target price of $254.92.

Insider Transactions at SBA Communications

In related news, EVP Mark R. Ciarfella sold 3,545 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the completion of the sale, the executive vice president now directly owns 33,588 shares of the company's stock, valued at approximately $7,534,796.04. This represents a 9.55 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is owned by insiders.

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.