Rep. Jefferson Shreve Unloads Shares of SBA Communications Corporation (NASDAQ:SBAC)

Representative Jefferson Shreve (R-Indiana) recently sold shares of SBA Communications Corporation NASDAQ: SBAC. In a filing disclosed on June 22nd, the Representative disclosed that they had sold between $50,001 and $100,000 in SBA Communications stock on May 12th. The trade occurred in the Representative's "CRT - STANDARD UNIT TRUST" account.

Representative Jefferson Shreve also recently made the following trade(s):

• Sold $15,001 - $50,000 in shares of Hubbell NYSE: HUBB on 5/12/2025.
• Sold $50,001 - $100,000 in shares of Trane Technologies NYSE: TT on 5/12/2025.
• Sold $15,001 - $50,000 in shares of RTX NYSE: RTX on 5/12/2025.
• Sold $50,001 - $100,000 in shares of NiSource NYSE: NI on 5/12/2025.
• Sold $50,001 - $100,000 in shares of Johnson & Johnson NYSE: JNJ on 5/12/2025.
• Sold $15,001 - $50,000 in shares of AppLovin NASDAQ: APP on 5/12/2025.
• Sold $15,001 - $50,000 in shares of Fiserv NYSE: FI on 5/12/2025.
• Sold $15,001 - $50,000 in shares of CNO Financial Group NYSE: CNO on 5/12/2025.
• Sold $50,001 - $100,000 in shares of Cboe Global Markets NASDAQ: CBOE on 5/12/2025.
• Sold $15,001 - $50,000 in shares of Lam Research NASDAQ: LRCX on 5/12/2025.

SBA Communications Trading Down 0.5%

Shares of NASDAQ:SBAC traded down $1.20 during midday trading on Friday, hitting $233.92. The company had a trading volume of 500,387 shares, compared to its average volume of 652,192. SBA Communications Corporation has a 12 month low of $192.55 and a 12 month high of $252.64. The firm has a fifty day simple moving average of $231.71 and a 200 day simple moving average of $221.55. The stock has a market cap of $25.13 billion, a price-to-earnings ratio of 32.09, a PEG ratio of 1.95 and a beta of 0.78.

SBA Communications Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Thursday, May 22nd were paid a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend was Thursday, May 22nd. SBA Communications's dividend payout ratio (DPR) is currently 60.91%.

Insider Activity at SBA Communications

In related news, Director Jack Langer sold 5,000 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $240.59, for a total transaction of $1,202,950.00. Following the completion of the transaction, the director owned 10,522 shares in the company, valued at approximately $2,531,487.98. This represents a 32.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.92% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SBA Communications

A number of large investors have recently added to or reduced their stakes in SBAC. NewEdge Advisors LLC grew its holdings in shares of SBA Communications by 23.9% during the fourth quarter. NewEdge Advisors LLC now owns 1,276 shares of the technology company's stock worth $260,000 after buying an additional 246 shares in the last quarter. CWA Asset Management Group LLC acquired a new position in SBA Communications during the 1st quarter worth approximately $302,000. GAMMA Investing LLC boosted its position in SBA Communications by 38.6% during the 1st quarter. GAMMA Investing LLC now owns 1,684 shares of the technology company's stock worth $370,000 after acquiring an additional 469 shares during the last quarter. Praxis Investment Management Inc. bought a new position in shares of SBA Communications during the 1st quarter worth approximately $290,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of SBA Communications by 14.1% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,300 shares of the technology company's stock valued at $3,146,000 after purchasing an additional 1,769 shares during the last quarter. Institutional investors own 97.35% of the company's stock.

Analyst Upgrades and Downgrades

SBAC has been the topic of a number of recent analyst reports. Morgan Stanley raised their target price on SBA Communications from $255.00 to $260.00 and gave the stock an "equal weight" rating in a report on Tuesday. BMO Capital Markets increased their price target on shares of SBA Communications from $230.00 to $240.00 and gave the company a "market perform" rating in a research report on Tuesday, April 29th. Barclays boosted their price objective on shares of SBA Communications from $247.00 to $257.00 and gave the company an "overweight" rating in a report on Wednesday. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $268.00 target price (up previously from $265.00) on shares of SBA Communications in a research note on Tuesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 target price on the stock. in a report on Tuesday, May 20th. Eight investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $257.19.

About Representative Shreve

Jefferson Shreve (Republican Party) is a member of the U.S. House, representing Indiana's 6th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. Shreve (Republican Party) is running for re-election to the U.S. House to represent Indiana's 6th Congressional District. He declared candidacy for the 2026 election. Email editor@ballotpedia.org to notify us of updates to this biography. Jefferson Shreve earned a bachelor's degree from Indiana University in 1989, a graduate degree from the University of London in 1998, and a graduate degree from Purdue University in 2003. Shreve's career experience includes working as a real estate executive. Shreve was elected 7th District Vice Chairman of the Indiana Republican State Committee on January 17, 2018, and was re-elected on March 6, 2021. In 2020, he was selected as a district-level delegate to the 2020 Republican National Convention.

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.