SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC trimmed its stake in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 17.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 131,087 shares of the technology company's stock after selling 28,319 shares during the period. Los Angeles Capital Management LLC owned about 0.12% of SBA Communications worth $33,255,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of SBAC. Nordea Investment Management AB lifted its stake in SBA Communications by 6.3% in the 4th quarter. Nordea Investment Management AB now owns 272,065 shares of the technology company's stock worth $68,854,000 after purchasing an additional 16,244 shares in the last quarter. Legacy Trust acquired a new stake in SBA Communications during the 4th quarter worth approximately $3,256,000. Natixis Advisors L.P. grew its stake in shares of SBA Communications by 18.8% in the third quarter. Natixis Advisors L.P. now owns 36,708 shares of the technology company's stock worth $7,348,000 after acquiring an additional 5,814 shares in the last quarter. Lecap Asset Management Ltd. purchased a new stake in shares of SBA Communications during the fourth quarter worth $2,122,000. Finally, Wakefield Asset Management LLLP raised its stake in shares of SBA Communications by 11.0% in the fourth quarter. Wakefield Asset Management LLLP now owns 13,964 shares of the technology company's stock valued at $3,543,000 after acquiring an additional 1,389 shares in the last quarter. 97.35% of the stock is currently owned by hedge funds and other institutional investors.

SBA Communications Price Performance

SBA Communications stock traded down $0.78 during mid-day trading on Friday, hitting $193.09. 1,072,789 shares of the company were exchanged, compared to its average volume of 1,010,062. SBA Communications Co. has a 12-month low of $183.64 and a 12-month high of $258.76. The business's 50 day simple moving average is $208.78 and its two-hundred day simple moving average is $222.32. The company has a market capitalization of $20.87 billion, a P/E ratio of 37.86, a PEG ratio of 1.16 and a beta of 0.59.

SBA Communications (NASDAQ:SBAC - Get Free Report) last released its earnings results on Monday, April 29th. The technology company reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.21 by $0.21. The company had revenue of $657.86 million for the quarter, compared to analyst estimates of $671.08 million. SBA Communications had a net margin of 20.61% and a negative return on equity of 10.75%. The firm's quarterly revenue was down 2.6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.13 EPS. Equities research analysts predict that SBA Communications Co. will post 12.61 earnings per share for the current year.

SBA Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Thursday, May 23rd will be issued a $0.98 dividend. The ex-dividend date is Wednesday, May 22nd. This represents a $3.92 annualized dividend and a yield of 2.03%. SBA Communications's dividend payout ratio (DPR) is presently 76.86%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on SBAC shares. TD Cowen cut their price target on SBA Communications from $266.00 to $253.00 and set a "buy" rating on the stock in a report on Tuesday. Wells Fargo & Company decreased their price target on shares of SBA Communications from $260.00 to $230.00 and set an "overweight" rating for the company in a research note on Tuesday. Barclays dropped their target price on SBA Communications from $255.00 to $241.00 and set an "overweight" rating on the stock in a report on Tuesday. Bank of America raised SBA Communications from a "neutral" rating to a "buy" rating and set a $260.00 price objective for the company in a research report on Thursday, March 7th. Finally, BMO Capital Markets decreased their target price on SBA Communications from $285.00 to $265.00 and set an "outperform" rating for the company in a research note on Tuesday, February 27th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, SBA Communications presently has an average rating of "Buy" and an average price target of $258.23.

Insider Transactions at SBA Communications

In other SBA Communications news, Director Mary S. Chan sold 1,977 shares of SBA Communications stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $217.99, for a total value of $430,966.23. Following the completion of the sale, the director now owns 4,622 shares in the company, valued at approximately $1,007,549.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.30% of the company's stock.

About SBA Communications

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.

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