SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank reduced its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 10.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,006 shares of the technology company’s stock after selling 7,276 shares during the period. Toronto Dominion Bank’s holdings in SBA Communications were worth $12,564,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its position in SBA Communications by 0.5% during the first quarter. Vanguard Group Inc. now owns 17,368,209 shares of the technology company’s stock worth $3,763,691,000 after purchasing an additional 88,339 shares during the last quarter. Principal Financial Group Inc. increased its holdings in SBA Communications by 54.9% during the 1st quarter. Principal Financial Group Inc. now owns 4,300,157 shares of the technology company’s stock worth $931,844,000 after purchasing an additional 1,524,302 shares during the period. Diamond Hill Capital Management Inc. increased its stake in shares of SBA Communications by 13.4% during the second quarter. Diamond Hill Capital Management Inc. now owns 1,973,867 shares of the technology company’s stock worth $387,470,000 after buying an additional 233,179 shares during the period. American Century Companies Inc. increased its position in shares of SBA Communications by 15.5% in the 2nd quarter. American Century Companies Inc. now owns 1,190,288 shares of the technology company’s stock valued at $233,654,000 after purchasing an additional 159,433 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in SBA Communications by 3.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 986,487 shares of the technology company’s stock valued at $213,773,000 after buying an additional 33,507 shares during the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Trading Up 1.0 %

Shares of NASDAQ SBAC opened at $238.64 on Friday. The company’s 50-day moving average price is $226.31 and its 200 day moving average price is $209.87. The stock has a market cap of $25.65 billion, a price-to-earnings ratio of 46.79, a PEG ratio of 0.73 and a beta of 0.67. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $258.76.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings data on Monday, July 29th. The technology company reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.56). The company had revenue of $660.50 million for the quarter, compared to analyst estimates 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 revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the business earned $3.24 EPS. As a group, research analysts expect that SBA Communications Co. will post 12.53 earnings per share for the current year.

SBA Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Thursday, August 22nd were given a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date was Thursday, August 22nd. SBA Communications’s dividend payout ratio is currently 76.86%.

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 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 completion of the sale, the chairman now directly owns 109,583 shares in the company, valued at approximately $24,328,521.83. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director George R. Krouse, Jr. sold 325 shares of SBA Communications stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total transaction of $71,363.50. Following the transaction, the director now owns 8,084 shares in the company, valued at approximately $1,775,084.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Jeffrey Stoops sold 49,765 shares of the business’s stock in a transaction dated 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 owns 109,583 shares in the company, valued at approximately $24,328,521.83. The disclosure for this sale can be found here. Insiders sold 51,590 shares of company stock worth $11,483,981 in the last 90 days. 1.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SBAC. JPMorgan Chase & Co. raised their price objective on shares of SBA Communications from $228.00 to $250.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. KeyCorp lifted their target price on shares of SBA Communications from $227.00 to $230.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Barclays reduced their target price on shares of SBA Communications from $240.00 to $236.00 and set an “overweight” rating for the company in a report on Tuesday, July 30th. StockNews.com upgraded SBA Communications from a “hold” rating to a “buy” rating in a research note on Friday, September 20th. Finally, The Goldman Sachs Group raised their price objective on shares of 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 assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $244.08.

SBA Communications 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.