SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems lessened its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 5.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,193 shares of the technology company’s stock after selling 439 shares during the quarter. Kentucky Retirement Systems’ holdings in SBA Communications were worth $1,775,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Legacy Trust acquired a new position in shares of SBA Communications in the 4th quarter valued at $3,256,000. SG Americas Securities LLC increased its stake in SBA Communications by 191.3% in the first quarter. SG Americas Securities LLC now owns 25,828 shares of the technology company’s stock valued at $5,597,000 after purchasing an additional 16,962 shares during the period. Franklin Resources Inc. raised its holdings in shares of SBA Communications by 2.8% in the fourth quarter. Franklin Resources Inc. now owns 707,743 shares of the technology company’s stock valued at $179,547,000 after buying an additional 19,462 shares during the last quarter. Nomura Holdings Inc. acquired a new stake in shares of SBA Communications during the fourth quarter worth about $7,422,000. Finally, Wellington Management Group LLP grew its holdings in shares of SBA Communications by 596.2% during the fourth quarter. Wellington Management Group LLP now owns 225,128 shares of the technology company’s stock worth $57,113,000 after buying an additional 192,791 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on SBAC shares. The Goldman Sachs Group began coverage on SBA Communications in a research note on Monday, July 1st. They set a “neutral” rating and a $212.00 price objective for the company. KeyCorp decreased their price target on SBA Communications from $276.00 to $227.00 and set an “overweight” rating for the company in a report on Tuesday, April 30th. Citigroup lowered their price objective on shares of SBA Communications from $290.00 to $260.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. Wells Fargo & Company downgraded shares of SBA Communications from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $230.00 to $220.00 in a research report on Monday, July 15th. Finally, TD Cowen lowered their target price on shares of SBA Communications from $266.00 to $253.00 and set a “buy” rating on the stock in a report on Tuesday, April 30th. Two investment 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $248.31.

SBA Communications Trading Up 1.7 %

Shares of NASDAQ:SBAC traded up $3.64 during trading on Friday, hitting $214.71. 911,889 shares of the stock were exchanged, compared to its average volume of 824,789. The company has a market cap of $23.07 billion, a PE ratio of 42.10, a P/E/G ratio of 0.69 and a beta of 0.65. The company has a fifty day moving average price of $197.54 and a two-hundred day moving average price of $207.31. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $258.76.

SBA Communications (NASDAQ:SBAC) last posted its earnings results on Monday, April 29th. The technology company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.21. SBA Communications had a negative return on equity of 10.75% and a net margin of 20.61%. The company had revenue of $657.86 million for the quarter, compared to the consensus estimate of $671.08 million. During the same period in the previous year, the business earned $3.13 earnings per share. SBA Communications’s quarterly revenue was down 2.6% compared to the same quarter last year. Equities research analysts anticipate that SBA Communications Co. will post 12.51 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Thursday, May 23rd were paid a $0.98 dividend. The ex-dividend date was Wednesday, May 22nd. This represents a $3.92 dividend on an annualized basis and a yield of 1.83%. SBA Communications’s payout ratio is 76.86%.

SBA Communications 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.