SBA Communications Co. (NASDAQ:SBAC) CAO Sells $382,626.00 in Stock

SBA Communications Co. (NASDAQ:SBAC) CAO Brian D. Lazarus sold 1,466 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $261.00, for a total value of $382,626.00. Following the sale, the chief accounting officer now owns 17,829 shares of the company’s stock, valued at $4,653,369. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Shares of NASDAQ SBAC opened at $260.53 on Friday. SBA Communications Co. has a 12-month low of $146.13 and a 12-month high of $263.04. The company has a market cap of $29.44 billion, a P/E ratio of 34.28, a P/E/G ratio of 3.33 and a beta of 0.69. The stock has a fifty day moving average price of $243.03 and a 200 day moving average price of $212.52.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, July 29th. The technology company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $1.86 by ($1.58). The business had revenue of $500.10 million for the quarter, compared to analyst estimates of $489.09 million. SBA Communications had a net margin of 6.75% and a negative return on equity of 4.12%. The firm’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.50) earnings per share. As a group, equities analysts predict that SBA Communications Co. will post 7.83 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, August 28th will be paid a dividend of $0.37 per share. The ex-dividend date is Tuesday, August 27th. This represents a $1.48 annualized dividend and a dividend yield of 0.57%.

Several brokerages recently issued reports on SBAC. ValuEngine upgraded SBA Communications from a “hold” rating to a “buy” rating in a report on Wednesday, May 8th. Raymond James downgraded SBA Communications from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. They noted that the move was a valuation call. New Street Research downgraded SBA Communications from a “buy” rating to a “neutral” rating and set a $236.00 price target for the company. in a report on Thursday, June 13th. KeyCorp increased their price target on SBA Communications from $259.00 to $292.00 and gave the company an “overweight” rating in a report on Monday. Finally, SunTrust Banks increased their price target on SBA Communications to $255.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $230.85.

Institutional investors have recently made changes to their positions in the company. Advisory Services Network LLC grew its stake in shares of SBA Communications by 65.4% during the second quarter. Advisory Services Network LLC now owns 129 shares of the technology company’s stock valued at $29,000 after acquiring an additional 51 shares in the last quarter. Redhawk Wealth Advisors Inc. acquired a new stake in shares of SBA Communications during the second quarter valued at about $29,000. Certified Advisory Corp acquired a new stake in shares of SBA Communications during the second quarter valued at about $31,000. Berman Capital Advisors LLC grew its stake in shares of SBA Communications by 103.9% during the second quarter. Berman Capital Advisors LLC now owns 155 shares of the technology company’s stock valued at $34,000 after acquiring an additional 79 shares in the last quarter. Finally, Next Capital Management LLC acquired a new stake in shares of SBA Communications during the second quarter valued at about $43,000. Institutional investors own 93.54% of the company’s stock.

About SBA Communications

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America. By “Building Better Wireless,” SBA generates revenue from two primary businesses – site leasing and site development services. The primary focus of the Company is the leasing of antenna space on its multi-tenant communication sites to a variety of wireless service providers under long-term lease contracts.

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