Teachers Retirement System of The State of Kentucky Sells 393 Shares of SBA Communications Co. (NASDAQ:SBAC)

Teachers Retirement System of The State of Kentucky decreased its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 4.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,305 shares of the technology company’s stock after selling 393 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in SBA Communications were worth $2,361,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in SBAC. Rafferty Asset Management LLC grew its holdings in SBA Communications by 5.2% during the third quarter. Rafferty Asset Management LLC now owns 12,109 shares of the technology company’s stock worth $2,424,000 after purchasing an additional 600 shares during the period. QRG Capital Management Inc. bought a new position in shares of SBA Communications during the 3rd quarter worth approximately $926,000. Hsbc Holdings PLC increased its holdings in shares of SBA Communications by 8.7% during the 3rd quarter. Hsbc Holdings PLC now owns 140,933 shares of the technology company’s stock worth $28,201,000 after acquiring an additional 11,310 shares during the last quarter. Acadian Asset Management LLC bought a new stake in SBA Communications in the 3rd quarter valued at $270,000. Finally, LPL Financial LLC lifted its holdings in SBA Communications by 12.6% during the 3rd quarter. LPL Financial LLC now owns 61,209 shares of the technology company’s stock valued at $12,252,000 after purchasing an additional 6,829 shares during the last quarter. Institutional investors own 97.35% of the company’s stock.

SBA Communications Stock Down 0.2 %

Shares of SBA Communications stock opened at $190.78 on Friday. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $258.76. The company has a market capitalization of $20.50 billion, a price-to-earnings ratio of 37.41, a PEG ratio of 0.61 and a beta of 0.65. The firm’s 50-day moving average price is $195.20 and its two-hundred day moving average price is $216.26.

SBA Communications (NASDAQ:SBAC) last posted its quarterly earnings results on Monday, April 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.21. SBA Communications had a net margin of 20.61% and a negative return on equity of 10.75%. The business had revenue of $657.86 million for the quarter, compared to analyst estimates of $671.08 million. During the same quarter last year, the business posted $3.13 EPS. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, sell-side analysts expect that SBA Communications Co. will post 12.52 earnings per share for the current year.

SBA Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 19th. Investors of record on Thursday, May 23rd were given a dividend of $0.98 per share. The ex-dividend date of this dividend was Wednesday, May 22nd. This represents a $3.92 annualized dividend and a dividend yield of 2.05%. SBA Communications’s dividend payout ratio is currently 76.86%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SBAC shares. TD Cowen dropped their price objective on shares of SBA Communications from $266.00 to $253.00 and set a “buy” rating on the stock in a research report on Tuesday, April 30th. Citigroup cut their price objective on shares of SBA Communications from $290.00 to $260.00 and set a “buy” rating for the company in a research report on Tuesday, April 30th. Bank of America raised SBA Communications from a “neutral” rating to a “buy” rating and set a $260.00 target price on the stock in a research report on Thursday, March 7th. StockNews.com upgraded SBA Communications from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, KeyCorp lowered their price objective on SBA Communications from $276.00 to $227.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 30th. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, SBA Communications has an average rating of “Buy” and an average price target of $252.17.

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.