Northwestern Mutual Wealth Management Co. Sells 178 Shares of SBA Communications Co. (NASDAQ:SBAC)

Northwestern Mutual Wealth Management Co. trimmed its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 18.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 812 shares of the technology company’s stock after selling 178 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in SBA Communications were worth $159,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Heitman Real Estate Securities LLC raised its position in shares of SBA Communications by 355.4% in the fourth quarter. Heitman Real Estate Securities LLC now owns 102,953 shares of the technology company’s stock valued at $26,118,000 after buying an additional 80,345 shares in the last quarter. GRS Advisors LLC lifted its position in shares of SBA Communications by 796.9% during the 4th quarter. GRS Advisors LLC now owns 124,954 shares of the technology company’s stock valued at $31,700,000 after acquiring an additional 111,022 shares during the period. GSA Capital Partners LLP bought a new stake in shares of SBA Communications during the 4th quarter valued at $3,779,000. Quarry LP grew its holdings in shares of SBA Communications by 400.0% during the 4th quarter. Quarry LP now owns 165 shares of the technology company’s stock worth $42,000 after purchasing an additional 132 shares in the last quarter. Finally, Novak & Powell Financial Services Inc. bought a new position in shares of SBA Communications in the fourth quarter worth $1,278,000. Institutional investors and hedge funds own 97.35% of the company’s stock.

Wall Street Analysts Forecast Growth

SBAC has been the topic of a number of analyst reports. BMO Capital Markets reduced their price objective on shares of SBA Communications from $250.00 to $245.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 30th. Barclays lifted their price objective on shares of SBA Communications from $236.00 to $256.00 and gave the company an “overweight” rating in a research note on Thursday. StockNews.com upgraded SBA Communications from a “hold” rating to a “buy” rating in a research note on Friday, September 20th. KeyCorp lifted their price target on SBA Communications from $227.00 to $230.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, Morgan Stanley upped their price objective on SBA Communications from $232.00 to $252.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, SBA Communications presently has an average rating of “Moderate Buy” and an average price target of $247.42.

Insiders Place Their Bets

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. 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 this link. In other news, Chairman Jeffrey Stoops sold 49,765 shares of the business’s 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 directly owns 109,583 shares of the company’s stock, valued at $24,328,521.83. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director George R. Krouse, Jr. sold 325 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total transaction of $71,363.50. Following the completion of the sale, the director now owns 8,084 shares in the company, valued at $1,775,084.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,590 shares of company stock worth $11,483,981. Corporate insiders own 1.30% of the company’s stock.

SBA Communications Price Performance

SBA Communications stock opened at $233.23 on Friday. The business has a 50 day moving average of $231.10 and a 200-day moving average of $211.20. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $258.76. The company has a market capitalization of $25.07 billion, a P/E ratio of 45.53, a P/E/G ratio of 0.71 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 (EPS) for the quarter, missing the consensus estimate of $2.07 by ($0.56). The business had revenue of $660.50 million for 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%. SBA Communications’s revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the business posted $3.24 EPS. Equities analysts anticipate that SBA Communications Co. will post 12.52 EPS for the current year.

SBA Communications Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Thursday, August 22nd were issued a $0.98 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $3.92 annualized dividend and a yield of 1.68%. SBA Communications’s payout ratio is 76.86%.

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.