IFM Investors Pty Ltd Sells 63 Shares of SBA Communications Co. (NASDAQ:SBAC)

IFM Investors Pty Ltd lessened its position in shares of SBA Communications Co. (NASDAQ:SBACGet Rating) by 0.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 30,966 shares of the technology company’s stock after selling 63 shares during the period. IFM Investors Pty Ltd’s holdings in SBA Communications were worth $9,911,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of SBAC. Norges Bank bought a new stake in SBA Communications during the 4th quarter worth approximately $339,836,000. American Century Companies Inc. grew its stake in SBA Communications by 93.3% in the 1st quarter. American Century Companies Inc. now owns 1,396,737 shares of the technology company’s stock worth $480,617,000 after buying an additional 674,248 shares in the last quarter. Invesco Ltd. grew its stake in SBA Communications by 45.1% in the 1st quarter. Invesco Ltd. now owns 2,099,226 shares of the technology company’s stock worth $722,344,000 after buying an additional 652,954 shares in the last quarter. BlackRock Inc. grew its stake in SBA Communications by 3.7% in the 4th quarter. BlackRock Inc. now owns 9,895,814 shares of the technology company’s stock worth $3,849,667,000 after buying an additional 352,616 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in SBA Communications by 12.1% in the 4th quarter. Deutsche Bank AG now owns 3,048,354 shares of the technology company’s stock worth $1,185,871,000 after buying an additional 328,421 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.

Insider Buying and Selling

In related news, Director Duncan Cocroft sold 1,152 shares of the stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $344.50, for a total value of $396,864.00. Following the completion of the transaction, the director now directly owns 64,592 shares in the company, valued at approximately $22,251,944. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Duncan Cocroft sold 1,152 shares of the stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $344.50, for a total transaction of $396,864.00. Following the sale, the director now directly owns 64,592 shares of the company’s stock, valued at approximately $22,251,944. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jason V. Silberstein sold 16,464 shares of the stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $350.38, for a total transaction of $5,768,656.32. Following the sale, the executive vice president now directly owns 21,785 shares in the company, valued at $7,633,028.30. The disclosure for this sale can be found here. Insiders sold a total of 54,152 shares of company stock worth $18,852,602 in the last three months. 1.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SBAC. The Goldman Sachs Group cut their price target on shares of SBA Communications from $424.00 to $381.00 and set a “buy” rating for the company in a research note on Tuesday, July 12th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of SBA Communications from $375.00 to $385.00 in a research note on Tuesday, August 2nd. Jefferies Financial Group cut their price objective on shares of SBA Communications from $383.00 to $347.00 and set a “hold” rating for the company in a research note on Thursday, June 30th. Wells Fargo & Company cut their price objective on shares of SBA Communications from $390.00 to $355.00 and set an “overweight” rating for the company in a research note on Tuesday, July 19th. Finally, StockNews.com cut shares of SBA Communications from a “buy” rating to a “hold” rating in a research note on Wednesday. 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, the stock has an average rating of “Moderate Buy” and an average price target of $384.67.

SBA Communications Trading Down 1.7 %

Shares of NASDAQ SBAC opened at $295.29 on Friday. SBA Communications Co. has a 12 month low of $286.41 and a 12 month high of $391.15. The firm has a market capitalization of $31.84 billion, a PE ratio of 91.42 and a beta of 0.44. The firm has a fifty day simple moving average of $329.00 and a two-hundred day simple moving average of $332.16.

SBA Communications (NASDAQ:SBACGet Rating) last issued its quarterly earnings data on Monday, August 1st. The technology company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.26). SBA Communications had a negative return on equity of 6.73% and a net margin of 14.45%. The company had revenue of $652.01 million during the quarter, compared to the consensus estimate of $626.30 million. During the same quarter last year, the company posted $2.64 earnings per share. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. On average, sell-side analysts predict that SBA Communications Co. will post 11.23 earnings per share for the current year.

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 20th. Investors of record on Thursday, August 25th were paid a $0.71 dividend. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $2.84 annualized dividend and a dividend yield of 0.96%. SBA Communications’s payout ratio is 87.93%.

SBA Communications Profile

(Get Rating)

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America and South Africa. By Building Better Wireless, SBA generates revenue from two primary businesses – site leasing and site development services.

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Institutional Ownership by Quarter for SBA Communications (NASDAQ:SBAC)

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