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Wellington Management Group LLP Trims Stake in SBA Communications Co. (NASDAQ:SBAC)

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Wellington Management Group LLP decreased its holdings in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 11.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 262,409 shares of the technology company's stock after selling 33,974 shares during the quarter. Wellington Management Group LLP owned 0.24% of SBA Communications worth $63,162,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. boosted its stake 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 purchasing an additional 51 shares during the period. Oregon Public Employees Retirement Fund grew its stake in SBA Communications by 0.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 9,265 shares of the technology company's stock worth $1,819,000 after purchasing an additional 53 shares in 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 during the period. Checchi Capital Advisers LLC increased its stake in shares of SBA Communications by 4.1% during the second quarter. Checchi Capital Advisers LLC now owns 1,457 shares of the technology company's stock valued at $286,000 after buying an additional 57 shares during the period. Finally, Sugarloaf Wealth Management LLC grew its holdings in SBA Communications by 11.6% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 558 shares of the technology company's stock worth $134,000 after acquiring an additional 58 shares in the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Donald Day sold 1,500 shares of SBA Communications stock in a transaction dated 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 owns 4,998 shares in the company, valued at $1,213,814.28. This trade represents a 23.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.30% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on SBAC shares. 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 upped their target price on SBA Communications from $251.00 to $261.00 and gave the stock a "buy" rating in a report on Tuesday, October 29th. Wells Fargo & Company increased 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. Morgan Stanley boosted their price target on SBA Communications from $232.00 to $252.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 18th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on SBA Communications from $230.00 to $240.00 and gave the company a "buy" rating in a research report on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $257.23.

Get Our Latest Stock Report on SBAC

SBA Communications Stock Down 0.5 %

Shares of NASDAQ:SBAC traded down $1.17 during trading on Wednesday, hitting $216.21. The stock had a trading volume of 899,269 shares, compared to its average volume of 914,619. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $258.76. The stock has a market capitalization of $23.25 billion, a price-to-earnings ratio of 34.09, a price-to-earnings-growth ratio of 0.74 and a beta of 0.67. The stock has a 50-day simple moving average of $230.17 and a two-hundred day simple moving average of $219.71.

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 (EPS) for the quarter, missing analysts' consensus estimates of $3.17 by ($0.77). The business had revenue of $667.60 million for the quarter, compared to analyst estimates of $669.29 million. SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The company's revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.34 earnings per share. As a group, sell-side analysts forecast that SBA Communications Co. will post 12.56 earnings per share for the current year.

SBA Communications Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 14th will be given a dividend of $0.98 per share. The ex-dividend date is Thursday, November 14th. This represents a $3.92 annualized dividend and a yield of 1.81%. SBA Communications's dividend payout ratio is presently 61.83%.

About SBA Communications

(Free Report)

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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Institutional Ownership by Quarter for SBA Communications (NASDAQ:SBAC)

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