George Krouse, Jr. Sells 300 Shares of SBA Communications (NASDAQ:SBAC) Stock

SBA Communications Corporation (NASDAQ:SBAC) Director George Krouse, Jr. sold 300 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $182.67, for a total transaction of $54,801.00. Following the transaction, the director owned 8,512 shares of the company’s stock, valued at approximately $1,554,887.04. This represents a 3.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

SBA Communications Trading Down 1.0%

SBAC stock opened at $180.54 on Friday. SBA Communications Corporation has a 1-year low of $162.41 and a 1-year high of $225.33. The firm has a market cap of $19.15 billion, a P/E ratio of 19.45, a P/E/G ratio of 1.82 and a beta of 0.99. The business’s 50 day moving average is $183.67 and its 200-day moving average is $194.18.

SBA Communications (NASDAQ:SBAC) last issued its earnings results on Monday, August 3rd. The technology company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.02. The business had revenue of $715.27 million during the quarter, compared to analysts’ expectations of $706.01 million. SBA Communications had a negative return on equity of 20.67% and a net margin of 34.51%.SBA Communications’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.17 EPS. Sell-side analysts forecast that SBA Communications Corporation will post 11.41 EPS for the current year.

SBA Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Thursday, August 20th will be issued a dividend of $1.25 per share. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.8%. SBA Communications’s dividend payout ratio (DPR) is presently 53.88%.

Analysts Set New Price Targets

SBAC has been the topic of several recent analyst reports. Truist Financial reduced their target price on shares of SBA Communications from $248.00 to $238.00 and set a “buy” rating on the stock in a research note on Wednesday, August 5th. Scotiabank lifted their price target on shares of SBA Communications from $223.00 to $230.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. Wells Fargo & Company raised shares of SBA Communications from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $220.00 to $210.00 in a report on Friday, July 17th. Barclays reduced their price target on shares of SBA Communications from $245.00 to $208.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, The Goldman Sachs Group started coverage on shares of SBA Communications in a research note on Friday, June 26th. They set a “neutral” rating and a $205.00 price objective on the stock. Eight research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, SBA Communications presently has a consensus rating of “Hold” and a consensus price target of $225.81.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. J. Safra Sarasin Holding AG lifted its position in SBA Communications by 4.0% in the 1st quarter. J. Safra Sarasin Holding AG now owns 1,596 shares of the technology company’s stock valued at $275,000 after acquiring an additional 62 shares in the last quarter. CX Institutional increased its holdings in SBA Communications by 44.2% during the 2nd quarter. CX Institutional now owns 212 shares of the technology company’s stock worth $37,000 after purchasing an additional 65 shares in the last quarter. Norinchukin Bank The increased its holdings in SBA Communications by 1.1% during the 3rd quarter. Norinchukin Bank The now owns 6,037 shares of the technology company’s stock worth $1,167,000 after purchasing an additional 68 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of SBA Communications by 5.7% in the 2nd quarter. GAMMA Investing LLC now owns 1,289 shares of the technology company’s stock valued at $227,000 after purchasing an additional 70 shares during the period. Finally, Larson Financial Group LLC raised its stake in shares of SBA Communications by 47.6% in the 4th quarter. Larson Financial Group LLC now owns 248 shares of the technology company’s stock valued at $48,000 after purchasing an additional 80 shares during the period. Institutional investors own 97.35% of the company’s stock.

About SBA Communications

SBA Communications Corporation (NASDAQ: SBAC) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its core business is the leasing of space on communications towers, rooftop sites and other wireless structures to mobile network operators, broadband providers and other wireless service customers. The company also provides site development, construction and ongoing site management services to support the deployment and operation of wireless networks.

In addition to traditional macro towers, SBA offers a range of infrastructure solutions designed for dense urban and suburban markets, including small cells, distributed antenna systems (DAS) and fiber backhaul and transport services.