8,068 SBA Communications Corporation $SBAC Shares Sold by Motley Fool Asset Management LLC

Key Points

• Motley Fool Asset Management cut its SBA Communications stake by 17.1%, selling 8,068 shares in the third quarter and retaining 39,134 shares valued at approximately $6.27 million. Institutional investors collectively own 97.35% of SBAC.
• Analyst sentiment remains mixed: the stock has a consensus “Hold” rating from 18 analysts, with a consensus price target of $226.53, despite upgrades from Wells Fargo and Wolfe Research and target-price reductions from several firms.
• SBA Communications reported quarterly earnings of $1.87 per share, slightly ahead of estimates, on revenue of $715.27 million. The company also maintains a quarterly dividend of $1.25, or $5.00 annually, representing a 2.7% yield.

Motley Fool Asset Management LLC lessened its holdings in shares of SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 17.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,134 shares of the technology company's stock after selling 8,068 shares during the quarter. Motley Fool Asset Management LLC's holdings in SBA Communications were worth $6,266,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Raiffeisen Bank International AG raised its position in shares of SBA Communications by 184.8% in the 2nd quarter. Raiffeisen Bank International AG now owns 188 shares of the technology company's stock valued at $34,000 after purchasing an additional 122 shares in the last quarter. CX Institutional grew its position in shares of SBA Communications by 44.2% during the second quarter. CX Institutional now owns 212 shares of the technology company's stock worth $37,000 after buying an additional 65 shares in the last quarter. Eastern Bank bought a new stake in shares of SBA Communications in the second quarter worth $44,000. Root Financial Partners LLC acquired a new stake in SBA Communications in the third quarter valued at $48,000. Finally, IFP Advisors Inc raised its holdings in SBA Communications by 392.0% in the second quarter. IFP Advisors Inc now owns 369 shares of the technology company's stock valued at $65,000 after acquiring an additional 294 shares in the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on SBAC shares. Wells Fargo & Company raised shares of SBA Communications from an "equal weight" rating to an "overweight" rating and decreased their price objective for the stock from $220.00 to $210.00 in a report on Friday, July 17th. Morgan Stanley cut their target price on shares of SBA Communications from $215.00 to $205.00 and set an "equal weight" rating on the stock in a research note on Monday, September 21st. Wolfe Research raised shares of SBA Communications from a "hold" rating to an "outperform" rating in a research report on Tuesday, August 4th. Barclays reduced their price target on shares of SBA Communications from $208.00 to $207.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 30th. Finally, Jefferies Financial Group upgraded SBA Communications to a "hold" rating in a research note on Thursday, October 15th. Eight research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, SBA Communications has a consensus rating of "Hold" and a consensus price target of $226.53.

SBA Communications Stock Performance

Shares of SBAC opened at $184.76 on Thursday. The firm has a fifty day moving average of $179.23 and a 200-day moving average of $189.99. The company has a market cap of $19.60 billion, a price-to-earnings ratio of 19.91, a price-to-earnings-growth ratio of 1.85 and a beta of 1.00. SBA Communications Corporation has a 1 year low of $156.60 and a 1 year high of $224.46.

SBA Communications (NASDAQ:SBAC - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The technology company reported $1.87 earnings per share for the quarter, topping analysts' consensus estimates of $1.85 by $0.02. The business had revenue of $715.27 million for the quarter, compared to analysts' expectations of $706.01 million. SBA Communications had a net margin of 34.51% and a negative return on equity of 20.67%. The company's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the company earned $3.17 EPS. Analysts predict that SBA Communications Corporation will post 11.40 EPS for the current year.

SBA Communications Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 17th. Shareholders of record on Thursday, August 20th were given a $1.25 dividend. The ex-dividend date was Thursday, August 20th. This represents a $5.00 annualized dividend and a yield of 2.7%. SBA Communications's payout ratio is 53.88%.

Insider Buying and Selling at SBA Communications

In related news, Director George R. Krouse, Jr. sold 300 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $182.67, for a total transaction of $54,801.00. Following the completion of the sale, the director directly owned 8,512 shares of the company's stock, valued at $1,554,887.04. This represents a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 9.50% of the company's stock.

About SBA Communications

SBA Communications Corporation is a real estate investment trust that owns and operates wireless communications infrastructure. The company's portfolio primarily consists of wireless communications towers and related sites that support cellular, wireless broadband, and other communications equipment.

SBA Communications leases antenna space on its towers to wireless service providers, government agencies, and other communications companies. It also provides site development services, including zoning, permitting, construction, and project management, as well as tower construction and acquisition services in selected markets.

Founded in 1989 and headquartered in Boca Raton, Florida, SBA Communications serves customers across the United States and in parts of Central and South America.

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