Global X Japan Co. Ltd. Sells 55 Shares of SBA Communications Co. (NASDAQ:SBAC)

Global X Japan Co. Ltd. cut its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 21.8% in the third quarter, HoldingsChannel reports. The fund owned 197 shares of the technology company’s stock after selling 55 shares during the period. Global X Japan Co. Ltd.’s holdings in SBA Communications were worth $47,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ridgewood Investments LLC bought a new position in shares of SBA Communications in the second quarter worth about $32,000. Family Firm Inc. bought a new position in SBA Communications in the 2nd quarter worth approximately $36,000. Friedenthal Financial purchased a new stake in SBA Communications during the 3rd quarter valued at approximately $50,000. Eastern Bank bought a new stake in shares of SBA Communications during the third quarter valued at approximately $58,000. Finally, Versant Capital Management Inc lifted 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 in the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SBAC has been the topic of a number of research reports. Wells Fargo & Company lifted their price target on shares of SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Barclays boosted their target price on SBA Communications from $236.00 to $256.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Morgan Stanley lifted their price objective on SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 18th. Royal Bank of Canada increased their target price on SBA Communications from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Finally, JPMorgan Chase & Co. boosted their price target on shares of SBA Communications from $228.00 to $250.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $251.58.

SBA Communications Trading Up 0.9 %

Shares of NASDAQ:SBAC opened at $243.69 on Thursday. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $258.76. The company has a market capitalization of $26.18 billion, a price-to-earnings ratio of 47.78, a PEG ratio of 0.75 and a beta of 0.67. The firm’s 50-day moving average is $235.74 and its 200 day moving average is $213.13.

SBA Communications (NASDAQ:SBAC) last released its earnings results on Monday, July 29th. The technology company reported $1.51 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $665.21 million. During the same period in the prior year, the company posted $3.24 EPS. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. As a group, equities analysts forecast that SBA Communications Co. will post 12.52 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Thursday, August 22nd were given a dividend of $0.98 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $3.92 annualized dividend and a dividend yield of 1.61%. SBA Communications’s dividend payout ratio (DPR) is 76.86%.

Insider Activity

In related news, Chairman Jeffrey Stoops sold 49,765 shares of SBA Communications stock in a transaction dated 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 completion of the sale, the chairman now owns 109,583 shares in the company, valued at $24,328,521.83. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director George R. Krouse, Jr. sold 325 shares of the stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total value of $71,363.50. Following the transaction, the director now owns 8,084 shares of the company’s stock, valued at $1,775,084.72. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Jeffrey Stoops sold 49,765 shares of the firm’s stock in a transaction 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 owns 109,583 shares in the company, valued at $24,328,521.83. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,590 shares of company stock valued at $11,483,981. 1.30% of the stock is currently owned by company insiders.

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.