Dimensional Fund Advisors LP sells 27,365 shares of SBA Communications Co. (NASDAQ:SBAC)

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Dimensional Fund Advisors LP reduced its stake in SBA Communications Co. (NASDAQ:SBAC – Free Report) by 1.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,503,497 shares of the technology company’s stock after selling 27,365 shares during the quarter. Dimensional Fund Advisors LP owned about 1.40% of SBA Communications worth $295,140,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of SBAC. Ridgewood Investments LLC bought a new stake in shares of SBA Communications in the second quarter valued at about $32,000. Quarry LP boosted its stake in SBA Communications by 400.0% in the fourth quarter. Quarry LP now owns 165 shares of the technology company’s stock worth $42,000 after purchasing an additional 132 shares during the last quarter. Family Firm Inc. purchased a new position in shares of SBA Communications in the second quarter valued at about $36,000. Global X Japan Co. Ltd. acquired a new stake in shares of SBA Communications in the second quarter valued at about $49,000. Finally, Versant Capital Management Inc boosted its holdings in shares of SBA Communications by 4,500.0% in the second quarter. Versant Capital Management Inc now owns 276 shares of the technology company’s stock worth $54,000 after purchasing an additional 270 shares during the period. 97.35% of shares are held by hedge funds and other institutional investors.

SBA Communications price performance

Shares of NASDAQ SBAC opened at $245.00 on Wednesday. The company has a fifty day moving average price of $222.13 and a 200 day moving average price of $208.68. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $258.76. The stock has a market cap of $26.32 billion, a P/E ratio of 48.04, a price-to-earnings-growth ratio of 0.74 and a beta of 0.67.

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SBA Communications (NASDAQ:SBAC – Get Free Report ) last posted its quarterly earnings results on Monday, July 29th. The technology company reported $1.51 earnings per share for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.56). The firm had revenue of $660.50 million during the quarter, compared to the consensus estimate of $665.21 million. SBA Communications had a net margin of 19.22% and a negative return on equity of 9.85%. The company’s quarterly revenue was down 2.7% year-over-year. In the same quarter last year, the company posted earnings of $3.24 per share. As a group, equities research analysts anticipate that SBA Communications Co. will post 12.53 earnings per share for the current fiscal year.

SBA Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Thursday, August 22nd will be issued a dividend of $0.98 per share. The ex-dividend date is Thursday, August 22. This represents an annualized dividend of $3.92 and a dividend yield of 1.60%. SBA Communications’ dividend payout ratio is currently 76.86%.

Analysts on Wall Street are forecasting an increase

Several equities analysts have commented on SBAC shares. KeyCorp boosted their price objective on SBA Communications from $227.00 to $230.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. TD Cowen cut their price target on shares of SBA Communications from $253.00 to $251.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Wells Fargo & Company cut shares of SBA Communications from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $230.00 to $220.00 in a report research on Monday, July 15. Goldman Sachs Group initiated coverage on shares of SBA Communications in a research report on Monday, July 1st. They set a “neutral” rating and a $212.00 price target on the stock. Finally, Royal Bank of Canada upped their price objective on SBA Communications from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th . Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Moderate Buy” and a consensus price target of $237.92, based on data from MarketBeat.com.

See the latest stock analysis on SBAC

Insider trading at SBA Communications

In related news, Chairman Jeffrey Stoops sold 49,765 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the transaction, the chairman now directly owns 109,583 shares of the company’s stock, valued at approximately $24,328,521.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other SBA Communications news, Chairman Jeffrey Stoops sold 49,765 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $222.01, for a total transaction of $11,048,327.65. Following the sale, the chairman now owns 109,583 shares of the company’s stock, valued at approximately $24,328,521.83. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC’s website. Also, EVP Donald Day sold 1,500 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $242.86, for a total transaction of $364,290.00. Following the completion of the transaction, the executive vice president now directly owns 4,998 shares of the company’s stock, valued at approximately $1,213,814.28. The disclosure for this sale can be found here. Insiders sold 51,590 shares of company stock worth $11,483,981 in the last quarter. 1.30% of shares are currently held by corporate insiders.

SBA Communications Company Profile

(Free Report)

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 in the Americas, Africa and Asia, SBA is listed on NASDAQ under the symbol SBAC.