SBA Communications Co. (NASDAQ:SBAC) Shares Bought by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC raised its holdings in SBA Communications Co. (NASDAQ:SBAC) by 15.1% during the third quarter, HoldingsChannel reports. The firm owned 3,653 shares of the technology company’s stock after buying an additional 480 shares during the period. Sequoia Financial Advisors LLC’s holdings in SBA Communications were worth $879,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of SBAC. Sunbelt Securities Inc. increased its stake in SBA Communications by 20.8% in the first quarter. Sunbelt Securities Inc. now owns 441 shares of the technology company’s stock valued at $96,000 after purchasing an additional 76 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in SBA Communications by 6.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,722 shares of the technology company’s stock valued at $807,000 after purchasing an additional 237 shares during the period. Cullinan Associates Inc. acquired a new position in SBA Communications in the first quarter valued at $217,000. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of SBA Communications by 1.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 229,677 shares of the technology company’s stock worth $49,771,000 after acquiring an additional 3,758 shares during the period. Finally, State of Alaska Department of Revenue increased its stake in shares of SBA Communications by 0.3% during the first quarter. State of Alaska Department of Revenue now owns 62,987 shares of the technology company’s stock worth $13,647,000 after acquiring an additional 201 shares during the period. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Stock Performance

Shares of SBAC opened at $241.79 on Friday. The company’s 50 day moving average price is $236.37 and its 200 day moving average price is $213.35. SBA Communications Co. has a 52 week low of $183.64 and a 52 week high of $258.76. The company has a market capitalization of $25.99 billion, a PE ratio of 51.16, a PEG ratio of 0.73 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings data on Monday, July 29th. The technology company reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.56). The firm had revenue of $660.50 million during the quarter, compared to analyst estimates of $665.21 million. SBA Communications had a negative return on equity of 9.85% and a net margin of 19.22%. SBA Communications’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.24 earnings per share. On average, equities analysts forecast that SBA Communications Co. will post 12.52 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Thursday, August 22nd were issued a $0.98 dividend. This represents a $3.92 annualized dividend and a dividend yield of 1.62%. The ex-dividend date was Thursday, August 22nd. SBA Communications’s payout ratio is 82.70%.

Insider Transactions at SBA Communications

In other news, EVP Donald Day sold 1,500 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $242.86, for a total value of $364,290.00. Following the sale, the executive vice president now owns 4,998 shares of the company’s stock, valued at approximately $1,213,814.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other SBA Communications news, EVP Donald Day sold 1,500 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $242.86, for a total transaction of $364,290.00. Following the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at approximately $1,213,814.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director George R. Krouse, Jr. sold 325 shares of the company’s stock in a transaction dated 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 trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,590 shares of company stock valued at $11,483,981. 1.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

SBAC has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a research note on Friday, September 20th. BMO Capital Markets dropped their price target 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. Morgan Stanley boosted their price target on shares of 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 boosted their price target on shares of SBA Communications from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Finally, Barclays boosted their price objective on shares of SBA Communications from $236.00 to $256.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, SBA Communications presently has an average rating of “Moderate Buy” and a consensus price target of $251.58.

SBA Communications Company 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.