DF Dent & Co. Inc. Decreases Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

DF Dent & Co. Inc. decreased its holdings in shares of SBA Communications Co. (NASDAQ:SBAC) by 2.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 261,475 shares of the technology company’s stock after selling 7,132 shares during the quarter. DF Dent & Co. Inc. owned approximately 0.24% of SBA Communications worth $68,263,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Raymond James Trust N.A. lifted its position in SBA Communications by 19.0% in the first quarter. Raymond James Trust N.A. now owns 1,925 shares of the technology company’s stock valued at $662,000 after acquiring an additional 307 shares during the last quarter. Vontobel Holding Ltd. lifted its stake in SBA Communications by 19.6% in the first quarter. Vontobel Holding Ltd. now owns 2,987 shares of the technology company’s stock valued at $1,024,000 after buying an additional 489 shares during the last quarter. Prudential PLC purchased a new stake in SBA Communications in the first quarter valued at approximately $568,000. Sequoia Financial Advisors LLC purchased a new stake in SBA Communications in the first quarter valued at approximately $234,000. Finally, Zions Bancorporation N.A. lifted its stake in SBA Communications by 157.6% in the first quarter. Zions Bancorporation N.A. now owns 322 shares of the technology company’s stock valued at $111,000 after buying an additional 197 shares during the last quarter. Hedge funds and other institutional investors own 92.48% of the company’s stock.

SBA Communications Trading Down 0.6 %

Shares of NASDAQ SBAC traded down $1.27 during trading on Monday, reaching $215.65. The company had a trading volume of 418,978 shares, compared to its average volume of 836,548. SBA Communications Co. has a twelve month low of $213.94 and a twelve month high of $334.52. The stock has a market capitalization of $23.37 billion, a PE ratio of 46.33 and a beta of 0.51. The stock has a 50-day moving average price of $227.00 and a two-hundred day moving average price of $237.70.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings data on Monday, July 31st. The technology company reported $1.87 earnings per share for the quarter, missing analysts’ consensus estimates of $2.91 by ($1.04). The firm had revenue of $678.50 million during the quarter, compared to analyst estimates of $676.87 million. SBA Communications had a net margin of 18.71% and a negative return on equity of 9.68%. The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.07 EPS. On average, sell-side analysts predict that SBA Communications Co. will post 12.15 EPS for the current year.

SBA Communications Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Investors of record on Thursday, August 24th will be given a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 1.58%. The ex-dividend date is Wednesday, August 23rd. SBA Communications’s dividend payout ratio (DPR) is 73.12%.

Insider Buying and Selling

In other SBA Communications news, Director George R. Krouse, Jr. sold 371 shares of the company’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $229.30, for a total transaction of $85,070.30. Following the completion of the sale, the director now directly owns 8,501 shares in the company, valued at $1,949,279.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on SBAC shares. UBS Group reduced their target price on shares of SBA Communications from $335.00 to $315.00 and set a “buy” rating for the company in a report on Tuesday, August 1st. Wells Fargo & Company reduced their target price on shares of SBA Communications from $300.00 to $270.00 and set an “overweight” rating for the company in a report on Tuesday, July 18th. TD Cowen reduced their target price on shares of SBA Communications from $329.00 to $327.00 and set an “outperform” rating for the company in a report on Tuesday, August 1st. BMO Capital Markets decreased their price target on SBA Communications from $260.00 to $250.00 and set a “market perform” rating for the company in a report on Tuesday, August 1st. Finally, Morgan Stanley boosted their price objective on shares of SBA Communications from $308.00 to $311.00 and gave the company an “overweight” rating in a research note on Monday. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, SBA Communications presently has an average rating of “Moderate Buy” and a consensus target price of $301.22.

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 in 16 markets throughout the Americas, Africa and the Philippines, SBA is listed on NASDAQ under the symbol SBAC.