SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Thurston Springer Miller Herd & Titak Inc.

Thurston Springer Miller Herd & Titak Inc. trimmed its holdings in SBA Communications Co. (NASDAQ:SBAC) by 57.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 222 shares of the technology company’s stock after selling 305 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in SBA Communications were worth $45,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new stake in SBA Communications during the third quarter valued at about $26,000. Capital Performance Advisors LLP purchased a new stake in SBA Communications during the third quarter valued at about $35,000. Friedenthal Financial acquired a new position in shares of SBA Communications in the 3rd quarter valued at about $50,000. Farther Finance Advisors LLC increased its holdings in shares of SBA Communications by 32.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock valued at $52,000 after purchasing an additional 53 shares during the period. Finally, Eastern Bank acquired a new position in shares of SBA Communications in the 3rd quarter valued at about $58,000. 97.35% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SBAC has been the topic of a number of research reports. Wells Fargo & Company upped their target price on SBA Communications from $220.00 to $240.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. upped their target price on SBA Communications from $228.00 to $250.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. StockNews.com downgraded SBA Communications from a “buy” rating to a “hold” rating in a report on Monday, January 13th. TD Cowen upped their target price on SBA Communications from $251.00 to $261.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Finally, Barclays dropped their price objective on SBA Communications from $257.00 to $254.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $254.77.

Insider Activity

In other news, EVP Donald Day sold 2,321 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $203.43, for a total value of $472,161.03. Following the completion of the sale, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at approximately $1,016,743.14. This represents a 31.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark R. Ciarfella sold 3,545 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $224.33, for a total value of $795,249.85. Following the completion of the sale, the executive vice president now directly owns 33,588 shares of the company’s stock, valued at $7,534,796.04. This represents a 9.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

SBA Communications Stock Down 0.3 %

Shares of SBAC stock opened at $203.61 on Friday. SBA Communications Co. has a 12 month low of $183.64 and a 12 month high of $252.64. The business’s 50 day moving average is $211.30 and its two-hundred day moving average is $221.16. The company has a market cap of $21.89 billion, a PE ratio of 32.12, a price-to-earnings-growth ratio of 0.68 and a beta of 0.69.

SBA Communications (NASDAQ:SBAC) last announced its quarterly earnings results on Monday, October 28th. The technology company reported $2.40 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.77). SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The company had revenue of $667.60 million for the quarter, compared to analyst estimates of $669.29 million. During the same quarter last year, the business earned $3.34 EPS. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. As a group, equities analysts expect that SBA Communications Co. will post 12.56 EPS for the current fiscal year.

SBA Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th were given a $0.98 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.92 annualized dividend and a dividend yield of 1.93%. SBA Communications’s dividend payout ratio is 61.83%.

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.