SBA Communications Co. (NASDAQ:SBAC) CEO Jeffrey Stoops Sells 45,779 Shares of Stock

SBA Communications Co. (NASDAQ:SBAC) CEO Jeffrey Stoops sold 45,779 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $233.96, for a total value of $10,710,454.84. Following the completion of the transaction, the chief executive officer now directly owns 37,889 shares of the company’s stock, valued at approximately $8,864,510.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

SBA Communications Trading Down 1.0 %

NASDAQ SBAC opened at $233.71 on Friday. The stock’s 50 day moving average is $207.50 and its 200 day moving average is $221.01. SBA Communications Co. has a 12 month low of $185.23 and a 12 month high of $312.34. The stock has a market cap of $25.21 billion, a PE ratio of 51.48, a P/E/G ratio of 1.30 and a beta of 0.55.

SBA Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 16th will be issued a dividend of $0.85 per share. The ex-dividend date of this dividend is Wednesday, November 15th. This represents a $3.40 annualized dividend and a dividend yield of 1.45%. SBA Communications’s dividend payout ratio (DPR) is 74.89%.

Institutional Trading of SBA Communications

Hedge funds have recently modified their holdings of the company. Raymond James Trust N.A. grew its position in shares of SBA Communications by 19.0% during the 1st quarter. Raymond James Trust N.A. now owns 1,925 shares of the technology company’s stock worth $662,000 after buying an additional 307 shares in the last quarter. Vontobel Holding Ltd. grew its position in shares of SBA Communications by 19.6% during the 1st quarter. Vontobel Holding Ltd. now owns 2,987 shares of the technology company’s stock worth $1,024,000 after buying an additional 489 shares in the last quarter. Prudential PLC bought a new position in shares of SBA Communications during the 1st quarter worth $568,000. Sequoia Financial Advisors LLC bought a new position in shares of SBA Communications during the 1st quarter worth $234,000. Finally, Zions Bancorporation N.A. grew its position in shares of SBA Communications by 157.6% during the 1st quarter. Zions Bancorporation N.A. now owns 322 shares of the technology company’s stock worth $111,000 after buying an additional 197 shares in the last quarter. 92.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SBAC. TD Cowen cut their price target on SBA Communications from $329.00 to $327.00 and set an “outperform” rating for the company in a research note on Tuesday, August 1st. Morgan Stanley cut their price target on SBA Communications from $311.00 to $227.00 and set an “overweight” rating for the company in a research note on Monday, October 16th. JPMorgan Chase & Co. cut their price target on SBA Communications from $275.00 to $229.00 in a research note on Wednesday, September 27th. Barclays cut their price target on SBA Communications from $296.00 to $251.00 and set an “overweight” rating for the company in a research note on Wednesday, October 18th. Finally, Citigroup cut their price target on SBA Communications from $260.00 to $235.00 and set a “buy” rating for the company in a research note on Tuesday, October 17th. Four research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $279.12.

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.