SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Sentry Investment Management LLC

Sentry Investment Management LLC trimmed its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 17.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 470 shares of the technology company’s stock after selling 96 shares during the period. Sentry Investment Management LLC’s holdings in SBA Communications were worth $92,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Ridgewood Investments LLC acquired a new position in shares of SBA Communications in the 2nd quarter valued at $32,000. Quarry LP lifted its stake in shares of SBA Communications by 400.0% in the 4th quarter. Quarry LP now owns 165 shares of the technology company’s stock valued at $42,000 after purchasing an additional 132 shares during the period. Family Firm Inc. acquired a new position in shares of SBA Communications in the 2nd quarter valued at $36,000. Global X Japan Co. Ltd. acquired a new position in shares of SBA Communications in the 2nd quarter valued at $49,000. Finally, Versant Capital Management Inc lifted its stake in shares of SBA Communications by 4,500.0% in the 2nd quarter. Versant Capital Management Inc now owns 276 shares of the technology company’s stock valued at $54,000 after purchasing an additional 270 shares during the period. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SBAC shares. Barclays cut their price target on shares of SBA Communications from $240.00 to $236.00 and set an “overweight” rating for the company in a report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. StockNews.com lowered shares of SBA Communications from a “buy” rating to a “hold” rating in a report on Thursday. The Goldman Sachs Group started coverage on shares of SBA Communications in a report on Monday, July 1st. They issued a “neutral” rating and a $212.00 price target for the company. Finally, Royal Bank of Canada boosted their price target on shares of SBA Communications from $235.00 to $245.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, SBA Communications currently has a consensus rating of “Moderate Buy” and a consensus price target of $237.92.

Insider Buying and Selling at SBA Communications

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

SBA Communications Stock Up 1.3 %

SBA Communications stock opened at $242.95 on Friday. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $258.76. The company has a fifty day simple moving average of $220.11 and a 200-day simple moving average of $208.09. The firm has a market capitalization of $26.11 billion, a price-to-earnings ratio of 47.64, a PEG ratio of 0.74 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data 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 firm had revenue of $660.50 million during the quarter, compared to analysts’ expectations of $665.21 million. During the same period in the prior year, the company posted $3.24 EPS. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, research analysts anticipate that SBA Communications Co. will post 12.53 EPS for the current fiscal year.

SBA Communications Announces Dividend

The company also recently disclosed 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. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend is Thursday, August 22nd. SBA Communications’s dividend payout ratio is currently 76.86%.

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.