Greenleaf Trust Grows Position in SBA Communications Co. (NASDAQ:SBAC)

Greenleaf Trust boosted its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 6.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,359 shares of the technology company’s stock after buying an additional 78 shares during the period. Greenleaf Trust’s holdings in SBA Communications were worth $327,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC increased its holdings in shares of SBA Communications by 191.3% in the first quarter. SG Americas Securities LLC now owns 25,828 shares of the technology company’s stock worth $5,597,000 after purchasing an additional 16,962 shares during the last quarter. FORA Capital LLC purchased a new stake in shares of SBA Communications during the 1st quarter worth approximately $4,872,000. Virtu Financial LLC bought a new position in shares of SBA Communications during the 1st quarter valued at approximately $1,764,000. Easterly Investment Partners LLC purchased a new position in shares of SBA Communications in the first quarter valued at $1,412,000. Finally, Centersquare Investment Management LLC increased its position in SBA Communications by 1.9% in the first quarter. Centersquare Investment Management LLC now owns 168,379 shares of the technology company’s stock worth $36,488,000 after purchasing an additional 3,087 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors.

Insider Activity at SBA Communications

In other SBA Communications news, Chairman Jeffrey Stoops sold 49,765 shares of the 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 transaction, the chairman now directly owns 109,583 shares in the company, valued at $24,328,521.83. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other SBA Communications 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 owns 109,583 shares in the company, valued at $24,328,521.83. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $71,363.50. Following the completion of the transaction, the director now owns 8,084 shares in the company, valued at $1,775,084.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 51,590 shares of company stock worth $11,483,981 over the last three months. 1.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. JPMorgan Chase & Co. boosted their price objective on SBA Communications from $228.00 to $250.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. BMO Capital Markets lowered their price objective on SBA Communications from $250.00 to $245.00 and set an “outperform” rating for the company in a research note on Tuesday, July 30th. Barclays boosted their target price on SBA Communications from $236.00 to $256.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Finally, KeyCorp lifted their price objective on shares of SBA Communications from $230.00 to $280.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $251.58.

SBA Communications Price Performance

SBA Communications stock opened at $241.79 on Friday. The stock has a market cap of $25.99 billion, a price-to-earnings ratio of 51.01, a price-to-earnings-growth ratio of 0.73 and a beta of 0.67. The firm has a 50-day moving average of $236.84 and a two-hundred day moving average of $213.55. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $258.76.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings data 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). The firm had revenue of $660.50 million during the quarter, compared to the consensus estimate of $665.21 million. SBA Communications had a negative return on equity of 9.85% and a net margin of 19.22%. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period last year, the company earned $3.24 EPS. Research analysts expect that SBA Communications Co. will post 12.52 earnings per share for the current year.

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.