California State Teachers Retirement System Has $25.95 Million Stock Holdings in SBA Communications Corporation $SBAC

California State Teachers Retirement System lessened its holdings in SBA Communications Corporation (NASDAQ:SBAC - Free Report) by 13.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 147,041 shares of the technology company's stock after selling 23,339 shares during the period. California State Teachers Retirement System owned 0.14% of SBA Communications worth $25,946,855 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. J. Safra Sarasin Holding AG raised its position in shares of SBA Communications by 4.0% in the first quarter. J. Safra Sarasin Holding AG now owns 1,596 shares of the technology company's stock valued at $275,000 after purchasing an additional 62 shares during the period. CX Institutional boosted its holdings in shares of SBA Communications by 44.2% in the second quarter. CX Institutional now owns 212 shares of the technology company's stock valued at $37,000 after purchasing an additional 65 shares during the period. GAMMA Investing LLC raised its holdings in shares of SBA Communications by 5.7% during the second quarter. GAMMA Investing LLC now owns 1,289 shares of the technology company's stock worth $227,000 after purchasing an additional 70 shares during the last quarter. Larson Financial Group LLC boosted its stake in shares of SBA Communications by 47.6% in the fourth quarter. Larson Financial Group LLC now owns 248 shares of the technology company's stock worth $48,000 after acquiring an additional 80 shares during the last quarter. Finally, Everhart Financial Group Inc. lifted its holdings in shares of SBA Communications by 5.6% in the 2nd quarter. Everhart Financial Group Inc. now owns 1,525 shares of the technology company's stock worth $269,000 after acquiring an additional 81 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors.

SBA Communications Stock Down 0.6%

SBAC stock traded down $1.18 during midday trading on Tuesday, hitting $181.89. The company's stock had a trading volume of 334,694 shares, compared to its average volume of 1,033,767. The firm has a market capitalization of $19.30 billion, a P/E ratio of 19.60, a PEG ratio of 1.85 and a beta of 0.99. The firm has a 50-day simple moving average of $183.76 and a 200-day simple moving average of $193.54. SBA Communications Corporation has a 52-week low of $162.41 and a 52-week high of $224.46.

SBA Communications (NASDAQ:SBAC - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The technology company reported $1.87 EPS for the quarter, beating the consensus estimate of $1.85 by $0.02. SBA Communications had a net margin of 34.51% and a negative return on equity of 20.67%. The firm had revenue of $715.27 million for the quarter, compared to analyst estimates of $706.01 million. During the same quarter last year, the firm posted $3.17 earnings per share. SBA Communications's revenue for the quarter was up 2.3% compared to the same quarter last year. On average, sell-side analysts expect that SBA Communications Corporation will post 11.41 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 17th. Shareholders of record on Thursday, August 20th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $5.00 dividend on an annualized basis and a yield of 2.7%. SBA Communications's payout ratio is currently 53.88%.

Wall Street Analyst Weigh In

SBAC has been the subject of a number of recent research reports. Royal Bank Of Canada lowered their price target on shares of SBA Communications from $245.00 to $210.00 and set an "outperform" rating for the company in a report on Friday, July 10th. UBS Group downgraded shares of SBA Communications from a "market perform" rating to a "hold" rating in a report on Monday, August 24th. Weiss Ratings restated a "hold (c)" rating on shares of SBA Communications in a research note on Monday, July 20th. Citigroup reiterated a "market perform" rating on shares of SBA Communications in a report on Tuesday, August 4th. Finally, Truist Financial lowered their price target on SBA Communications from $248.00 to $238.00 and set a "buy" rating on the stock in a report on Wednesday, August 5th. Seven analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, SBA Communications currently has an average rating of "Hold" and an average target price of $225.53.

Insider Transactions at SBA Communications

In other news, Director George R. Krouse, Jr. sold 300 shares of SBA Communications stock in a transaction on Monday, August 17th. The shares were sold at an average price of $182.67, for a total value of $54,801.00. Following the completion of the sale, the director owned 8,512 shares in the company, valued at $1,554,887.04. The trade was a 3.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 9.50% of the stock is currently owned by insiders.

SBA Communications Company Profile

SBA Communications Corporation NASDAQ: SBAC is a real estate investment trust that owns and operates wireless communications infrastructure. The company provides the sites and facilities that wireless service providers use to support cellular networks, including traditional macro towers, small cells and distributed antenna systems.

SBA's primary business is leasing space on its communications infrastructure to wireless carriers and other communications companies. It also develops, acquires and manages wireless sites, helping customers expand network coverage and capacity.

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