SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Pathstone Holdings LLC

Pathstone Holdings LLC lessened its stake in SBA Communications Co. (NASDAQ:SBAC) by 2.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,032 shares of the technology company’s stock after selling 222 shares during the quarter. Pathstone Holdings LLC’s holdings in SBA Communications were worth $2,655,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SBAC. Bayesian Capital Management LP acquired a new stake in shares of SBA Communications during the first quarter valued at about $715,000. Janus Henderson Group PLC grew its stake in SBA Communications by 1,305.8% during the 1st quarter. Janus Henderson Group PLC now owns 224,985 shares of the technology company’s stock valued at $48,732,000 after purchasing an additional 208,981 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its holdings in SBA Communications by 16.5% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,781 shares of the technology company’s stock worth $356,000 after purchasing an additional 252 shares during the last quarter. California State Teachers Retirement System raised its position in shares of SBA Communications by 1.2% in the 1st quarter. California State Teachers Retirement System now owns 176,380 shares of the technology company’s stock valued at $38,222,000 after purchasing an additional 2,043 shares in the last quarter. Finally, Tidal Investments LLC boosted its stake in shares of SBA Communications by 105.4% during the 1st quarter. Tidal Investments LLC now owns 5,279 shares of the technology company’s stock valued at $1,144,000 after buying an additional 2,709 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Insider Activity at SBA Communications

In other SBA Communications news, EVP Donald Day sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $242.86, for a total value of $364,290.00. Following the completion of the sale, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at $1,213,814.28. The trade was a 23.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

SBAC has been the subject of a number of research analyst reports. The Goldman Sachs Group lifted their price target on shares of SBA Communications from $212.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Raymond James upped their target price on shares of SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 29th. Morgan Stanley lifted their price target on SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 18th. KeyCorp upped their price objective on SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, TD Cowen lifted their target price on SBA Communications from $251.00 to $261.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Three research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $257.23.

SBA Communications Trading Up 2.4 %

NASDAQ SBAC opened at $225.98 on Tuesday. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $258.76. The stock has a market cap of $24.30 billion, a price-to-earnings ratio of 35.64, a price-to-earnings-growth ratio of 0.75 and a beta of 0.68. The company has a 50-day moving average price of $233.84 and a two-hundred day moving average price of $217.65.

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

SBA Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th will be paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Thursday, November 14th. SBA Communications’s dividend payout ratio (DPR) is presently 61.83%.

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.