Summit Trail Advisors LLC Increases Holdings in SBA Communications Co. (NASDAQ:SBAC)

Summit Trail Advisors LLC boosted its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 2.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,124 shares of the technology company’s stock after purchasing an additional 105 shares during the quarter. Summit Trail Advisors LLC’s holdings in SBA Communications were worth $1,006,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Ridgewood Investments LLC bought a new stake in shares of SBA Communications in the 2nd quarter valued at about $32,000. Family Firm Inc. bought a new position in SBA Communications in the second quarter worth approximately $36,000. Quarry LP raised its stake in SBA Communications by 400.0% in the fourth quarter. Quarry LP now owns 165 shares of the technology company’s stock worth $42,000 after buying an additional 132 shares in the last quarter. Global X Japan Co. Ltd. purchased a new stake in SBA Communications during the second quarter worth $49,000. Finally, Versant Capital Management Inc boosted its position in SBA Communications by 4,500.0% during the 2nd quarter. Versant Capital Management Inc now owns 276 shares of the technology company’s stock valued at $54,000 after acquiring an additional 270 shares in the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on the company. BMO Capital Markets reduced their price target on SBA Communications from $250.00 to $245.00 and set an “outperform” rating for the company in a research report on Tuesday, July 30th. Wells Fargo & Company lowered shares of SBA Communications from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $230.00 to $220.00 in a research report on Monday, July 15th. KeyCorp raised their price target on shares of SBA Communications from $227.00 to $230.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. The Goldman Sachs Group began coverage on shares of SBA Communications in a research note on Monday, July 1st. They set a “neutral” rating and a $212.00 price objective for the company. Finally, Barclays lowered their target price on shares of SBA Communications from $240.00 to $236.00 and set an “overweight” rating for the company in a research note on Tuesday, July 30th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $240.00.

SBA Communications Trading Up 0.5 %

NASDAQ SBAC opened at $239.47 on Monday. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $258.76. The company has a fifty day simple moving average of $224.12 and a two-hundred day simple moving average of $209.19. The stock has a market cap of $25.73 billion, a P/E ratio of 46.95, a P/E/G ratio of 0.75 and a beta of 0.67.

SBA Communications (NASDAQ:SBAC) last issued its 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). The firm had revenue of $660.50 million during the quarter, compared to analysts’ expectations of $665.21 million. SBA Communications had a negative return on equity of 9.85% and a net margin of 19.22%. The business’s revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the business earned $3.24 EPS. As a group, sell-side analysts forecast that SBA Communications Co. will post 12.53 earnings per share for the current year.

SBA Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Thursday, August 22nd were issued a $0.98 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $3.92 annualized dividend and a yield of 1.64%. SBA Communications’s dividend payout ratio (DPR) is presently 76.86%.

Insiders Place Their Bets

In other news, EVP Donald Day sold 1,500 shares of the company’s stock in a transaction on 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 directly owns 4,998 shares of the company’s stock, valued at approximately $1,213,814.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Donald Day sold 1,500 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $242.86, for a total transaction of $364,290.00. Following the sale, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at $1,213,814.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director George R. Krouse, Jr. sold 325 shares of SBA Communications stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $219.58, for a total value of $71,363.50. Following the transaction, the director now owns 8,084 shares of the company’s stock, valued at $1,775,084.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,590 shares of company stock valued at $11,483,981. 1.30% of the stock is owned by insiders.

SBA Communications 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.