Retirement Systems of Alabama Sells 729 Shares of SBA Communications Co. (NASDAQ:SBAC)

Retirement Systems of Alabama trimmed its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 0.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,501 shares of the technology company’s stock after selling 729 shares during the period. Retirement Systems of Alabama’s holdings in SBA Communications were worth $22,706,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Emerald Advisers LLC bought a new stake in shares of SBA Communications during the third quarter valued at approximately $31,000. CVA Family Office LLC bought a new stake in SBA Communications in the 4th quarter valued at $37,000. Pinnacle Bancorp Inc. lifted its stake in SBA Communications by 73.6% in the 4th quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company’s stock worth $40,000 after purchasing an additional 67 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of SBA Communications by 37.8% during the 4th quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock valued at $42,000 after purchasing an additional 45 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC bought a new position in shares of SBA Communications during the 4th quarter valued at about $43,000. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Insider Buying and Selling at SBA Communications

In other news, Director Mary S. Chan sold 1,977 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $217.99, for a total transaction of $430,966.23. Following the transaction, the director now directly owns 4,622 shares of the company’s stock, valued at $1,007,549.78. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.30% of the stock is owned by corporate insiders.

SBA Communications Trading Up 2.9 %

Shares of NASDAQ:SBAC opened at $201.89 on Tuesday. SBA Communications Co. has a 12 month low of $185.23 and a 12 month high of $263.08. The company has a market capitalization of $21.83 billion, a price-to-earnings ratio of 43.79, a PEG ratio of 1.21 and a beta of 0.56. The firm’s 50-day moving average is $209.91 and its 200 day moving average is $222.86.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, April 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.21. SBA Communications had a negative return on equity of 9.70% and a net margin of 18.51%. The firm had revenue of $657.86 million during the quarter, compared to analyst estimates of $671.08 million. During the same period last year, the company earned $3.13 EPS. SBA Communications’s quarterly revenue was down 2.6% compared to the same quarter last year. As a group, equities analysts forecast that SBA Communications Co. will post 12.61 EPS for the current fiscal year.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Thursday, May 23rd will be issued a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 1.94%. SBA Communications’s payout ratio is 85.03%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. BMO Capital Markets decreased their target price on SBA Communications from $285.00 to $265.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 27th. Bank of America raised shares of SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 price target on the stock in a research note on Thursday, March 7th. Finally, Barclays reduced their target price on shares of SBA Communications from $260.00 to $255.00 and set an “overweight” rating on the stock in a report on Wednesday, April 17th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $268.00.

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.