SBA Communications Co. (NASDAQ:SBAC) Stock Position Lessened by Retirement Systems of Alabama

Retirement Systems of Alabama reduced its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 1.6% during the third quarter, Holdings Channel.com reports. The firm owned 85,026 shares of the technology company’s stock after selling 1,358 shares during the period. Retirement Systems of Alabama’s holdings in SBA Communications were worth $20,466,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in SBA Communications during the 3rd quarter valued at about $26,000. Capital Performance Advisors LLP acquired a new position in shares of SBA Communications during the third quarter valued at approximately $35,000. Ridgewood Investments LLC bought a new stake in SBA Communications during the second quarter worth approximately $32,000. Family Firm Inc. acquired a new stake in SBA Communications in the second quarter worth approximately $36,000. Finally, Friedenthal Financial bought a new position in SBA Communications during the 3rd quarter valued at $50,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Insider Buying and Selling

In other SBA Communications news, EVP Mark R. Ciarfella sold 3,545 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $224.33, for a total value of $795,249.85. Following the completion of the sale, the executive vice president now owns 33,588 shares in the company, valued at $7,534,796.04. This represents a 9.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

SBA Communications Stock Performance

NASDAQ SBAC opened at $214.28 on Friday. The firm’s 50 day moving average price is $228.76 and its two-hundred day moving average price is $220.07. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $258.76. The stock has a market cap of $23.04 billion, a price-to-earnings ratio of 33.80, a PEG ratio of 0.73 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). The business had revenue of $667.60 million for the quarter, compared to analysts’ expectations of $669.29 million. SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.34 EPS. On average, research analysts forecast that SBA Communications Co. will post 12.56 EPS for the current fiscal year.

SBA Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th were given a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend was Thursday, November 14th. SBA Communications’s dividend payout ratio (DPR) is 61.83%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on SBAC shares. StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. KeyCorp boosted their price target on shares of SBA Communications from $230.00 to $280.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Morgan Stanley raised their price objective on shares of SBA Communications from $232.00 to $252.00 and gave the company an “overweight” rating in a research report on Wednesday, September 18th. TD Cowen boosted their target price on shares of SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Finally, BMO Capital Markets raised their target price on shares of SBA Communications from $255.00 to $260.00 and gave the stock an “outperform” rating in a report on Tuesday, October 29th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $257.23.

SBA Communications Company 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.