LRI Investments LLC Buys 1,316 Shares of SBA Communications Co. (NASDAQ:SBAC)

LRI Investments LLC boosted its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 1,709.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,393 shares of the technology company’s stock after buying an additional 1,316 shares during the period. LRI Investments LLC’s holdings in SBA Communications were worth $273,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC boosted its stake in SBA Communications by 191.3% during the first quarter. SG Americas Securities LLC now owns 25,828 shares of the technology company’s stock worth $5,597,000 after buying an additional 16,962 shares in the last quarter. Franklin Resources Inc. boosted its stake in SBA Communications by 2.8% during the fourth quarter. Franklin Resources Inc. now owns 707,743 shares of the technology company’s stock worth $179,547,000 after buying an additional 19,462 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in SBA Communications during the fourth quarter worth $7,422,000. Wellington Management Group LLP boosted its stake in 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 in the last quarter. Finally, Clear Rock Advisors LLC acquired a new stake in SBA Communications during the fourth quarter worth $1,900,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SBAC shares. BMO Capital Markets decreased their price target on shares of SBA Communications from $250.00 to $245.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. The Goldman Sachs Group began coverage on shares of SBA Communications in a research note on Monday, July 1st. They issued a “neutral” rating and a $212.00 target price on the stock. TD Cowen reduced their target price on shares of SBA Communications from $253.00 to $251.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Royal Bank of Canada boosted their target price on shares of SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Finally, Wells Fargo & Company downgraded shares of SBA Communications from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $230.00 to $220.00 in a research note on Monday, July 15th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, SBA Communications currently has a consensus rating of “Moderate Buy” and a consensus price target of $237.92.

Insider Activity at SBA Communications

In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total transaction of $71,363.50. Following the completion of the sale, the director now directly owns 8,084 shares of the company’s stock, valued at approximately $1,775,084.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total transaction of $71,363.50. Following the completion of the sale, the director now directly owns 8,084 shares of the company’s stock, valued at approximately $1,775,084.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Jeffrey Stoops sold 49,765 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $222.01, for a total value of $11,048,327.65. Following the sale, the chairman now directly owns 109,583 shares of the company’s stock, valued at $24,328,521.83. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.

SBA Communications Stock Up 4.1 %

SBA Communications stock opened at $227.28 on Friday. The stock has a 50-day simple moving average of $207.78 and a 200 day simple moving average of $205.70. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $258.76. The stock has a market capitalization of $24.42 billion, a price-to-earnings ratio of 44.56, a P/E/G ratio of 0.67 and a beta of 0.65.

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

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Thursday, August 22nd will be issued a $0.98 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.72%. SBA Communications’s dividend payout ratio is 76.86%.

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.