Securian Asset Management Inc. Cuts Stock Position in SBA Communications Co. (NASDAQ:SBAC)

Securian Asset Management Inc. lessened its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 1.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,150 shares of the technology company’s stock after selling 100 shares during the period. Securian Asset Management Inc.’s holdings in SBA Communications were worth $1,207,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in SBAC. Allworth Financial LP boosted its stake in SBA Communications by 37.8% during the fourth quarter. Allworth Financial LP now owns 164 shares of the technology company’s stock worth $42,000 after buying an additional 45 shares during the period. Marks Group Wealth Management Inc raised its holdings in SBA Communications by 4.4% during the fourth quarter. Marks Group Wealth Management Inc now owns 1,274 shares of the technology company’s stock worth $323,000 after purchasing an additional 54 shares in the last quarter. Ballentine Partners LLC raised its holdings in SBA Communications by 2.7% during the first quarter. Ballentine Partners LLC now owns 2,068 shares of the technology company’s stock worth $448,000 after purchasing an additional 55 shares in the last quarter. Industrial Alliance Investment Management Inc. raised its position in SBA Communications by 3.9% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 1,560 shares of the technology company’s stock worth $338,000 after buying an additional 58 shares during the last quarter. Finally, Warwick Investment Management Inc. raised its position in SBA Communications by 6.1% during the 4th quarter. Warwick Investment Management Inc. now owns 1,061 shares of the technology company’s stock worth $269,000 after buying an additional 61 shares during the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Chairman Jeffrey Stoops sold 49,765 shares of SBA Communications stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the completion of the transaction, the chairman now owns 109,583 shares of the company’s stock, valued at $24,328,521.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SBAC. Citigroup cut their price target on shares of SBA Communications from $290.00 to $260.00 and set a “buy” rating for the company in a report on Tuesday, April 30th. Wells Fargo & Company lowered shares of SBA Communications from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $230.00 to $220.00 in a research note on Monday, July 15th. TD Cowen decreased their price objective on shares of SBA Communications from $253.00 to $251.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. StockNews.com downgraded shares of SBA Communications from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Royal Bank of Canada boosted their price target on shares of SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Monday, August 5th. Three analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $241.67.

SBA Communications Stock Up 1.0 %

NASDAQ:SBAC traded up $2.19 during trading hours on Monday, reaching $215.10. The company had a trading volume of 524,998 shares, compared to its average volume of 964,111. The stock has a 50-day moving average of $203.13 and a two-hundred day moving average of $206.01. SBA Communications Co. has a one year low of $183.64 and a one year high of $258.76. The firm has a market capitalization of $23.11 billion, a PE ratio of 41.75, a PEG ratio of 0.70 and a beta of 0.65.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, July 29th. The technology company reported $1.51 EPS for the quarter, missing the consensus estimate of $2.07 by ($0.56). SBA Communications had a negative return on equity of 9.85% and a net margin of 19.22%. The business had revenue of $660.50 million for the quarter, compared to the consensus estimate of $665.21 million. During the same quarter in the previous year, the company posted $3.24 EPS. SBA Communications’s revenue for the quarter was down 2.7% on a year-over-year basis. As a group, sell-side analysts expect that SBA Communications Co. will post 12.53 earnings per share for the current year.

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Thursday, August 22nd will be issued a dividend of $0.98 per share. The ex-dividend date is Thursday, August 22nd. This represents a $3.92 annualized dividend and a dividend yield of 1.82%. SBA Communications’s dividend payout ratio (DPR) is presently 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.