Ninepoint Partners LP Has $964,000 Stock Position in SBA Communications Co. (NASDAQ:SBAC)

Ninepoint Partners LP lowered its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 6.1% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,909 shares of the technology company’s stock after selling 321 shares during the quarter. Ninepoint Partners LP’s holdings in SBA Communications were worth $964,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Barclays decreased their target price on SBA Communications from $240.00 to $236.00 and set an “overweight” rating on the stock 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, September 20th. Wells Fargo & Company cut SBA Communications from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $230.00 to $220.00 in a research report on Monday, July 15th. Finally, The Goldman Sachs Group lifted their target price on SBA Communications from $212.00 to $240.00 and gave the company a “neutral” rating in a research report on Thursday. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, SBA Communications currently has an average rating of “Moderate Buy” and a consensus price target of $244.08.

Insider Buying and Selling at SBA Communications

In other news, Chairman Jeffrey Stoops sold 49,765 shares of the company’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 transaction, 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 through the SEC website. In other news, Director George R. Krouse, Jr. sold 325 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total transaction of $71,363.50. Following the transaction, the director now directly owns 8,084 shares of the company’s stock, valued at $1,775,084.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Jeffrey Stoops sold 49,765 shares of the company’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 value of $11,048,327.65. Following the transaction, the chairman now directly owns 109,583 shares in the company, valued at $24,328,521.83. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,590 shares of company stock valued at $11,483,981. 1.30% of the stock is currently owned by company insiders.

SBA Communications Price Performance

Shares of SBAC stock opened at $238.64 on Friday. The business’s 50 day simple moving average is $226.31 and its 200 day simple moving average is $209.87. SBA Communications Co. has a one year low of $183.64 and a one year high of $258.76. The stock has a market capitalization of $25.65 billion, a PE ratio of 46.79, a PEG ratio of 0.73 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, July 29th. The technology company reported $1.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.07 by ($0.56). SBA Communications had a net margin of 19.22% and a negative return on equity of 9.85%. The business had revenue of $660.50 million during the quarter, compared to analyst estimates of $665.21 million. During the same period last year, the firm posted $3.24 earnings per share. SBA Communications’s quarterly revenue was down 2.7% compared to the same quarter last year. As a group, research analysts expect that SBA Communications Co. will post 12.53 earnings per share for the current year.

SBA Communications Announces Dividend

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

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.