SBA Communications Co. (NASDAQ:SBAC) EVP Mark R. Ciarfella Sells 3,545 Shares

SBA Communications Co. (NASDAQ:SBAC) EVP Mark R. Ciarfella sold 3,545 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $224.33, for a total value of $795,249.85. Following the completion of the transaction, the executive vice president now owns 33,588 shares in the company, valued at $7,534,796.04. This trade represents a 9.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

SBA Communications Trading Down 0.5 %

Shares of SBAC stock traded down $1.17 during mid-day trading on Wednesday, reaching $216.21. The stock had a trading volume of 899,269 shares, compared to its average volume of 914,619. The company has a market cap of $23.25 billion, a P/E ratio of 34.09, a price-to-earnings-growth ratio of 0.74 and a beta of 0.67. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $258.76. The business has a 50-day simple moving average of $230.17 and a 200 day simple moving average of $219.71.

SBA Communications (NASDAQ:SBAC) last announced 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). SBA Communications had a negative return on equity of 13.13% and a net margin of 25.76%. The business had revenue of $667.60 million for the quarter, compared to analyst estimates of $669.29 million. During the same quarter in the previous year, the firm posted $3.34 EPS. The business’s revenue was down 2.2% on a year-over-year basis. Research analysts anticipate that SBA Communications Co. will post 12.56 EPS for the current year.

SBA Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th will be given a $0.98 dividend. The ex-dividend date is Thursday, November 14th. This represents a $3.92 annualized dividend and a dividend yield of 1.81%. SBA Communications’s dividend payout ratio is currently 61.83%.

Institutional Trading of SBA Communications

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Synovus Financial Corp lifted its holdings in SBA Communications by 13.0% in the 3rd quarter. Synovus Financial Corp now owns 13,222 shares of the technology company’s stock valued at $3,183,000 after purchasing an additional 1,522 shares in the last quarter. Tidal Investments LLC lifted its stake in shares of SBA Communications by 8.8% during the third quarter. Tidal Investments LLC now owns 2,868 shares of the technology company’s stock valued at $690,000 after buying an additional 233 shares during the period. Wilmington Savings Fund Society FSB boosted its position in SBA Communications by 19.6% during the third quarter. Wilmington Savings Fund Society FSB now owns 1,573 shares of the technology company’s stock worth $379,000 after acquiring an additional 258 shares during the last quarter. Sanctuary Advisors LLC grew its stake in SBA Communications by 19.4% in the 3rd quarter. Sanctuary Advisors LLC now owns 5,672 shares of the technology company’s stock worth $1,252,000 after acquiring an additional 921 shares during the period. Finally, TCW Group Inc. acquired a new position in SBA Communications in the 3rd quarter valued at $3,505,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on SBAC. Wells Fargo & Company boosted their target price on SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of SBA Communications from $230.00 to $240.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Raymond James increased their price target on shares of SBA Communications from $285.00 to $300.00 and gave the stock a “strong-buy” rating in a report on Tuesday, October 29th. Finally, KeyCorp lifted their price objective on SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Three equities research 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. According to MarketBeat.com, SBA Communications has an average rating of “Moderate Buy” and an average price target of $257.23.

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.