Raymond James Trust N.A. Sells 132 Shares of SBA Communications Co. (NASDAQ:SBAC)

Raymond James Trust N.A. lowered its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 4.9% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 2,571 shares of the technology company’s stock after selling 132 shares during the period. Raymond James Trust N.A.’s holdings in SBA Communications were worth $619,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in SBAC. Ashton Thomas Securities LLC acquired a new position in SBA Communications in the 3rd quarter valued at approximately $26,000. Capital Performance Advisors LLP bought a new position in SBA Communications in the third quarter worth $35,000. Ridgewood Investments LLC acquired a new stake in SBA Communications during the second quarter worth $32,000. Family Firm Inc. bought a new stake in SBA Communications in the 2nd quarter valued at $36,000. Finally, Friedenthal Financial acquired a new position in shares of SBA Communications in the 3rd quarter valued at $50,000. 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 stock in a transaction on Friday, September 13th. The stock was sold at an average price of $242.86, for a total value of $364,290.00. Following the transaction, the executive vice president now owns 4,998 shares of the company’s stock, valued at $1,213,814.28. This represents a 23.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

SBA Communications Trading Up 2.4 %

Shares of SBAC stock opened at $225.98 on Tuesday. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $258.76. The firm’s 50 day moving average is $233.84 and its 200-day moving average is $217.65. The firm has a market capitalization of $24.30 billion, a price-to-earnings ratio of 35.64, a PEG ratio of 0.75 and a beta of 0.68.

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

SBA Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.98 per share. The ex-dividend date of this dividend is Thursday, November 14th. This represents a $3.92 annualized dividend and a yield of 1.73%. SBA Communications’s dividend payout ratio is currently 61.83%.

Analyst Ratings Changes

A number of research firms recently weighed in on SBAC. Barclays upped their target price on shares of SBA Communications from $236.00 to $256.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. KeyCorp increased their target price on SBA Communications from $230.00 to $280.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. StockNews.com raised SBA Communications from a “hold” rating to a “buy” rating in a research note on Thursday, November 7th. Wells Fargo & Company lifted their price objective on SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Finally, TD Cowen upped 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. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $257.23.

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.