Kentucky Retirement Systems Sells 96 Shares of SBA Communications Co. (NASDAQ:SBAC)

Kentucky Retirement Systems lowered its stake in SBA Communications Co. (NASDAQ:SBAC) by 1.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,097 shares of the technology company’s stock after selling 96 shares during the quarter. Kentucky Retirement Systems’ holdings in SBA Communications were worth $1,589,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in SBAC. SG Americas Securities LLC grew its holdings in shares of SBA Communications by 191.3% in the first quarter. SG Americas Securities LLC now owns 25,828 shares of the technology company’s stock worth $5,597,000 after acquiring an additional 16,962 shares during the period. Nomura Holdings Inc. bought a new stake in shares of SBA Communications during the 4th quarter valued at about $7,422,000. Wellington Management Group LLP increased its position in shares of SBA Communications by 596.2% during the 4th quarter. Wellington Management Group LLP now owns 225,128 shares of the technology company’s stock valued at $57,113,000 after purchasing an additional 192,791 shares during the last quarter. Clear Rock Advisors LLC bought a new position in shares of SBA Communications in the 4th quarter worth approximately $1,900,000. Finally, GSA Capital Partners LLP bought a new stake in SBA Communications during the fourth quarter valued at approximately $3,779,000. Institutional investors own 97.35% of the company’s stock.

Insider Buying and Selling at SBA Communications

In other news, EVP Donald Day sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $242.86, for a total transaction of $364,290.00. Following the sale, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at approximately $1,213,814.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other SBA Communications news, Chairman Jeffrey Stoops sold 49,765 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $222.01, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Donald Day sold 1,500 shares of the firm’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 disclosure for this sale can be found here. Insiders sold 51,590 shares of company stock worth $11,483,981 in the last quarter. 1.30% of the stock is owned by corporate insiders.

SBA Communications Price Performance

Shares of SBAC opened at $239.47 on Friday. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $258.76. The company has a 50 day simple moving average of $224.12 and a two-hundred day simple moving average of $209.29. The firm has a market cap of $25.73 billion, a P/E ratio of 46.95, a price-to-earnings-growth ratio of 0.75 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC) last announced 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). The company had revenue of $660.50 million during the quarter, compared to the consensus estimate of $665.21 million. SBA Communications had a net margin of 19.22% and a negative return on equity of 9.85%. The business’s revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.24 earnings per share. On average, sell-side analysts anticipate that SBA Communications Co. will post 12.53 earnings per share for the current year.

SBA Communications Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Thursday, August 22nd were paid a dividend of $0.98 per share. This represents a $3.92 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend was Thursday, August 22nd. SBA Communications’s payout ratio is presently 76.86%.

Analyst Ratings Changes

Several research analysts have weighed in on SBAC shares. Morgan Stanley increased their price target on shares of SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a research report on Wednesday. KeyCorp lifted their target price on SBA Communications from $227.00 to $230.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. StockNews.com upgraded SBA Communications from a “hold” rating to a “buy” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft raised their price objective on SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Finally, The Goldman Sachs Group started coverage on SBA Communications in a research note on Monday, July 1st. They set a “neutral” rating and a $212.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, SBA Communications presently has a consensus rating of “Moderate Buy” and a consensus target price of $240.00.

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.