SBA Communications Co. (NASDAQ:SBAC) Stock Holdings Decreased by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its position in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 6.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,601 shares of the technology company's stock after selling 6,896 shares during the period. New York State Teachers Retirement System owned approximately 0.09% of SBA Communications worth $24,455,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its stake in shares of SBA Communications by 6.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,722 shares of the technology company's stock worth $807,000 after buying an additional 237 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in SBA Communications by 1.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 229,677 shares of the technology company's stock worth $49,771,000 after acquiring an additional 3,758 shares in the last quarter. First Trust Direct Indexing L.P. lifted its holdings in SBA Communications by 5.1% in the first quarter. First Trust Direct Indexing L.P. now owns 1,913 shares of the technology company's stock valued at $415,000 after acquiring an additional 93 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of SBA Communications by 5.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,603 shares of the technology company's stock worth $5,982,000 after purchasing an additional 1,309 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of SBA Communications by 144.7% during the 1st quarter. BNP Paribas Financial Markets now owns 359,736 shares of the technology company's stock worth $77,955,000 after purchasing an additional 212,739 shares during the period. 97.35% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Donald Day sold 1,500 shares of the business's 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 completion of the sale, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,213,814.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other SBA Communications news, EVP Donald Day sold 1,500 shares of the company's stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $242.86, for a total transaction of $364,290.00. Following the completion of the sale, the executive vice president now directly owns 4,998 shares in the company, valued at $1,213,814.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director George R. Krouse, Jr. sold 325 shares of the business's stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total transaction of $71,363.50. Following the sale, the director now owns 8,084 shares of the company's stock, valued at approximately $1,775,084.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on SBAC. Wells Fargo & Company raised their price objective on shares of SBA Communications from $220.00 to $240.00 and gave the company an "equal weight" rating in a research note on Thursday, October 10th. Royal Bank of Canada boosted their price target on SBA Communications from $235.00 to $245.00 and gave the stock an "outperform" rating in a research note on Monday, August 5th. TD Cowen raised their price objective on SBA Communications from $251.00 to $261.00 and gave the company a "buy" rating in a research note on Tuesday. KeyCorp boosted their target price on SBA Communications from $230.00 to $280.00 and gave the stock an "overweight" rating in a research report on Monday, October 14th. Finally, The Goldman Sachs Group upped their target price on SBA Communications from $212.00 to $240.00 and gave the company a "neutral" rating in a report on Thursday, September 26th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $257.23.

SBA Communications Trading Down 1.7 %

Shares of NASDAQ SBAC traded down $3.88 during midday trading on Friday, reaching $225.59. 720,211 shares of the stock were exchanged, compared to its average volume of 916,500. The company has a market capitalization of $24.24 billion, a P/E ratio of 35.82, a P/E/G ratio of 0.70 and a beta of 0.67. The stock has a 50 day moving average price of $237.99 and a 200-day moving average price of $214.27. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $258.76.

SBA Communications (NASDAQ:SBAC - Get Free Report) last issued its quarterly 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). SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The business had revenue of $667.60 million during the quarter, compared to analyst estimates of $669.29 million. During the same quarter last year, the firm posted $3.34 earnings per share. The company's revenue was down 2.2% on a year-over-year basis. On average, analysts forecast that SBA Communications Co. will post 12.52 earnings per share for the current year.

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 14th will be issued a $0.98 dividend. This represents a $3.92 annualized dividend and a yield of 1.74%. The ex-dividend date is Thursday, November 14th. SBA Communications's dividend payout ratio (DPR) is 61.83%.

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.