Bokf Na Sells 11,540 Shares of SBA Communications Co. (NASDAQ:SBAC)

Bokf Na decreased its stake in SBA Communications Co. (NASDAQ:SBAC) by 67.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,532 shares of the technology company’s stock after selling 11,540 shares during the period. Bokf Na’s holdings in SBA Communications were worth $1,086,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in SBAC. Oregon Public Employees Retirement Fund grew its holdings in shares of SBA Communications by 0.6% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 9,265 shares of the technology company’s stock valued at $1,819,000 after purchasing an additional 53 shares during the last quarter. Ballentine Partners LLC grew its holdings in shares of SBA Communications by 2.7% during the 1st quarter. Ballentine Partners LLC now owns 2,068 shares of the technology company’s stock valued at $448,000 after purchasing an additional 55 shares during the last quarter. Checchi Capital Advisers LLC grew its holdings in shares of SBA Communications by 4.1% during the 2nd quarter. Checchi Capital Advisers LLC now owns 1,457 shares of the technology company’s stock valued at $286,000 after purchasing an additional 57 shares during the last quarter. Industrial Alliance Investment Management Inc. grew its holdings in shares of SBA Communications by 3.9% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 1,560 shares of the technology company’s stock valued at $338,000 after purchasing an additional 58 shares during the last quarter. Finally, Warwick Investment Management Inc. grew its holdings in shares of SBA Communications by 6.1% during the 4th quarter. Warwick Investment Management Inc. now owns 1,061 shares of the technology company’s stock valued at $269,000 after purchasing an additional 61 shares during the last quarter. Institutional investors own 97.35% of the company’s stock.

Insider Activity at SBA Communications

In other SBA Communications news, Chairman Jeffrey Stoops sold 49,765 shares of SBA Communications stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $222.01, for a total value of $11,048,327.65. Following the completion of the transaction, the chairman now directly owns 109,583 shares of the company’s stock, valued at $24,328,521.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other SBA Communications news, Director George R. Krouse, Jr. sold 325 shares of SBA Communications stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total value of $71,363.50. Following the completion of the transaction, the director now directly owns 8,084 shares of the company’s stock, valued at $1,775,084.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Jeffrey Stoops sold 49,765 shares of SBA Communications stock in a transaction dated 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 completion of the transaction, the chairman now directly owns 109,583 shares of the company’s stock, valued at $24,328,521.83. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SBAC shares. Deutsche Bank Aktiengesellschaft raised their price target on shares of SBA Communications from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Barclays cut their price target on shares of SBA Communications from $240.00 to $236.00 and set an “overweight” rating on the stock in a report on Tuesday, July 30th. Royal Bank of Canada raised their price target on shares of SBA Communications from $235.00 to $245.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. KeyCorp raised their price target on shares of SBA Communications from $227.00 to $230.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Finally, TD Cowen cut their price target on shares of SBA Communications from $253.00 to $251.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $237.92.

SBA Communications Price Performance

Shares of NASDAQ SBAC opened at $242.95 on Monday. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $258.76. The stock has a market cap of $26.11 billion, a P/E ratio of 47.64, a price-to-earnings-growth ratio of 0.74 and a beta of 0.67. The firm has a 50-day moving average of $220.11 and a 200 day moving average of $208.17.

SBA Communications (NASDAQ:SBAC) last issued its quarterly earnings results on Monday, July 29th. The technology company reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.56). SBA Communications had a net margin of 19.22% and a negative return on equity of 9.85%. The business had revenue of $660.50 million for the quarter, compared to analysts’ expectations of $665.21 million. During the same period last year, the business earned $3.24 earnings per share. The company’s revenue was down 2.7% on a year-over-year basis. Research analysts expect that SBA Communications Co. will post 12.53 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Thursday, August 22nd will be given a dividend of $0.98 per share. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $3.92 dividend on an annualized basis and a yield of 1.61%. SBA Communications’s dividend payout ratio (DPR) is currently 76.86%.

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.