Key Points
- Director George Krouse Jr. sold 300 SBAC shares at an average price of $182.67, totaling $54,801 and reducing his direct holdings by 3.4% to 8,512 shares.
- SBA Communications beat quarterly earnings and revenue expectations, reporting $1.87 EPS and $715.27 million in revenue; revenue increased 2.3% year over year.
- The company declared a quarterly dividend of $1.25 per share, equivalent to $5.00 annually and a 2.7% yield. Analysts have a consensus “Hold” rating and an average price target of $228.12.
SBA Communications Corporation (NASDAQ:SBAC - Get Free Report) Director George Krouse, Jr. sold 300 shares of the firm's stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $182.67, for a total value of $54,801.00. Following the transaction, the director directly owned 8,512 shares of the company's stock, valued at $1,554,887.04. This represents a 3.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
SBA Communications Price Performance
NASDAQ SBAC opened at $182.43 on Thursday. The company's 50 day simple moving average is $184.14 and its 200 day simple moving average is $194.21. SBA Communications Corporation has a 12 month low of $162.41 and a 12 month high of $225.33. The company has a market capitalization of $19.35 billion, a P/E ratio of 19.66, a PEG ratio of 1.81 and a beta of 0.99.
SBA Communications (NASDAQ:SBAC - Get Free Report) last announced its earnings results on Monday, August 3rd. The technology company reported $1.87 EPS for the quarter, beating the consensus estimate of $1.85 by $0.02. SBA Communications had a negative return on equity of 20.67% and a net margin of 34.51%.The business had revenue of $715.27 million during the quarter, compared to the consensus estimate of $706.01 million. During the same period in the prior year, the business posted $3.17 earnings per share. SBA Communications's revenue was up 2.3% compared to the same quarter last year. On average, analysts anticipate that SBA Communications Corporation will post 11.41 earnings per share for the current year.
SBA Communications Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Thursday, August 20th will be given a dividend of $1.25 per share. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $5.00 dividend on an annualized basis and a yield of 2.7%. SBA Communications's payout ratio is presently 53.88%.
Analysts Set New Price Targets
A number of brokerages have commented on SBAC. The Goldman Sachs Group began coverage on SBA Communications in a research report on Friday, June 26th. They issued a "neutral" rating and a $205.00 target price on the stock. Barclays reiterated an "overweight" rating on shares of SBA Communications in a report on Thursday. Royal Bank Of Canada lowered their price target on SBA Communications from $245.00 to $210.00 and set an "outperform" rating for the company in a research note on Friday, July 10th. TD Cowen restated a "buy" rating on shares of SBA Communications in a report on Tuesday, August 4th. Finally, Scotiabank raised their price objective on shares of SBA Communications from $223.00 to $230.00 and gave the company a "sector perform" rating in a research report on Friday, May 1st. Eight analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $228.12.
Check Out Our Latest Report on SBA Communications
Hedge Funds Weigh In On SBA Communications
Several institutional investors and hedge funds have recently added to or reduced their stakes in SBAC. DV Equities LLC bought a new stake in shares of SBA Communications during the fourth quarter valued at approximately $29,000. Fulcrum Asset Management LLP bought a new position in SBA Communications in the third quarter worth $32,000. Geneos Wealth Management Inc. lifted its position in SBA Communications by 105.0% in the first quarter. Geneos Wealth Management Inc. now owns 164 shares of the technology company's stock worth $36,000 after purchasing an additional 84 shares during the period. CX Institutional boosted its stake in SBA Communications by 44.2% during the second quarter. CX Institutional now owns 212 shares of the technology company's stock worth $37,000 after buying an additional 65 shares in the last quarter. Finally, High Point Wealth Management LLC acquired a new stake in SBA Communications during the fourth quarter worth $39,000. 97.35% of the stock is currently owned by institutional investors.
SBA Communications Company Profile
(
Get Free Report)
SBA Communications Corporation (NASDAQ: SBAC) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its core business is the leasing of space on communications towers, rooftop sites and other wireless structures to mobile network operators, broadband providers and other wireless service customers. The company also provides site development, construction and ongoing site management services to support the deployment and operation of wireless networks.
In addition to traditional macro towers, SBA offers a range of infrastructure solutions designed for dense urban and suburban markets, including small cells, distributed antenna systems (DAS) and fiber backhaul and transport services.
See Also
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
