Dimensional Fund Advisors LP Sells 27,365 Shares of SBA Communications Co. (NASDAQ:SBAC)

Dimensional Fund Advisors LP cut its stake in SBA Communications Co. (NASDAQ:SBAC) by 1.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,503,497 shares of the technology company’s stock after selling 27,365 shares during the quarter. Dimensional Fund Advisors LP owned about 1.40% of SBA Communications worth $295,140,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of SBAC. Ridgewood Investments LLC bought a new stake in shares of SBA Communications in the 2nd quarter worth about $32,000. Quarry LP lifted its stake in SBA Communications by 400.0% in the fourth quarter. Quarry LP now owns 165 shares of the technology company’s stock worth $42,000 after purchasing an additional 132 shares during the last quarter. Family Firm Inc. purchased a new position in shares of SBA Communications during the second quarter valued at approximately $36,000. Global X Japan Co. Ltd. purchased a new stake in shares of SBA Communications in the second quarter worth approximately $49,000. Finally, Versant Capital Management Inc raised its holdings in shares of SBA Communications by 4,500.0% in the second quarter. Versant Capital Management Inc now owns 276 shares of the technology company’s stock worth $54,000 after buying an additional 270 shares during the period. 97.35% of the stock is owned by hedge funds and other institutional investors.

SBA Communications Price Performance

Shares of NASDAQ SBAC opened at $245.00 on Wednesday. The business has a fifty day moving average price of $222.13 and a 200 day moving average price of $208.68. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $258.76. The stock has a market capitalization of $26.32 billion, a P/E ratio of 48.04, a price-to-earnings-growth ratio of 0.74 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC) last released its quarterly earnings results on Monday, July 29th. The technology company reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.56). The firm 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 firm’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.24 earnings per share. As a group, equities research analysts anticipate that SBA Communications Co. will post 12.53 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Thursday, August 22nd will be issued a dividend of $0.98 per share. The ex-dividend date is Thursday, August 22nd. This represents a $3.92 annualized dividend and a dividend yield of 1.60%. SBA Communications’s dividend payout ratio is presently 76.86%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SBAC shares. KeyCorp upped their price objective on SBA Communications from $227.00 to $230.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. TD Cowen reduced their price target on shares of SBA Communications from $253.00 to $251.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Wells Fargo & Company cut shares of SBA Communications from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $230.00 to $220.00 in a research report on Monday, July 15th. The Goldman Sachs Group initiated coverage on shares of SBA Communications in a research report on Monday, July 1st. They set a “neutral” rating and a $212.00 target price on the stock. Finally, Royal Bank of Canada increased their price objective on SBA Communications from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $237.92.

Insider Transactions at SBA Communications

In related news, Chairman Jeffrey Stoops sold 49,765 shares of the company’s stock in a transaction dated 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 transaction, the chairman now directly owns 109,583 shares of the company’s stock, valued at approximately $24,328,521.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 shares were sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the sale, the chairman now owns 109,583 shares of the company’s stock, valued at approximately $24,328,521.83. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Donald Day sold 1,500 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at approximately $1,213,814.28. The disclosure for this sale can be found here. Insiders sold 51,590 shares of company stock valued at $11,483,981 in the last quarter. 1.30% of the stock is currently owned by corporate insiders.

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.