Central Pacific Bank Trust Division Grows Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Central Pacific Bank Trust Division raised its position in shares of SBA Communications Co. (NASDAQ:SBAC) by 10.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 700 shares of the technology company’s stock after buying an additional 65 shares during the quarter. Central Pacific Bank Trust Division’s holdings in SBA Communications were worth $168,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Ridgewood Investments LLC acquired a new position in shares of SBA Communications during the second quarter valued at about $32,000. Quarry LP increased its holdings in SBA Communications by 400.0% in the 4th quarter. Quarry LP now owns 165 shares of the technology company’s stock worth $42,000 after buying an additional 132 shares during the period. Family Firm Inc. acquired a new position in SBA Communications in the 2nd quarter worth approximately $36,000. Global X Japan Co. Ltd. acquired a new position in SBA Communications in the 2nd quarter worth approximately $49,000. Finally, Versant Capital Management Inc increased its holdings in SBA Communications by 4,500.0% in the 2nd quarter. Versant Capital Management Inc now owns 276 shares of the technology company’s stock worth $54,000 after buying an additional 270 shares during the period. Institutional investors and hedge funds own 97.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft increased 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. Wells Fargo & Company downgraded shares of SBA Communications from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $230.00 to $220.00 in a report on Monday, July 15th. KeyCorp increased 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. TD Cowen lowered their price objective on SBA Communications from $253.00 to $251.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. Finally, StockNews.com upgraded SBA Communications from a “hold” rating to a “buy” rating in a research report on Friday, September 20th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $244.08.

SBA Communications Stock Down 1.9 %

Shares of SBAC opened at $235.37 on Friday. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $258.76. The company has a market capitalization of $25.29 billion, a PE ratio of 46.15, a price-to-earnings-growth ratio of 0.72 and a beta of 0.67. The stock has a fifty day simple moving average of $229.97 and a two-hundred day simple moving average of $210.77.

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). SBA Communications had a negative return on equity of 9.85% and a net margin of 19.22%. The company had revenue of $660.50 million during the quarter, compared to analyst estimates of $665.21 million. During the same period last year, the business earned $3.24 earnings per share. The firm’s revenue was down 2.7% compared to the same quarter last year. As a group, equities analysts anticipate that SBA Communications Co. will post 12.52 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Thursday, August 22nd were paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date was Thursday, August 22nd. SBA Communications’s dividend payout ratio (DPR) is presently 76.86%.

Insider Buying and Selling

In related news, Director George R. Krouse, Jr. sold 325 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total transaction of $71,363.50. Following the completion of the sale, the director now directly owns 8,084 shares of the company’s stock, valued at approximately $1,775,084.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director George R. Krouse, Jr. sold 325 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $219.58, for a total transaction of $71,363.50. Following the completion of the sale, the director now directly owns 8,084 shares of the company’s stock, valued at approximately $1,775,084.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Jeffrey Stoops sold 49,765 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $222.01, for a total value of $11,048,327.65. Following the sale, the chairman now directly owns 109,583 shares of the company’s stock, valued at $24,328,521.83. The trade was a 0.00 % decrease in their ownership of the stock. 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 currently owned by insiders.

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.